Bravo festival condos in vaughan. Chris, a Canadian real estate agent for ten years, talks about real estate. Many real estate markets around the world have gone crazy.Please Visit: Bravo festival condos in vaughan to Get Your VVIP Registration Today!
The real estate market is booming in both the United States, the United Kingdom and Canada. Global property market valuations are soaring at their fastest pace since 2006, with double-digit annual price increases, according to the latest global house price index (Global House Price Index) from Knight Frank, the international real estate brokerage.
The drivers of the frenzied housing market are strikingly consistent: low-cost home mortgages, post-epidemic hunger for more space, new telecommuting phenomena that allow urbanites to bring cash to the suburbs and, above all, there is a widespread concern that if you don’t buy it now, you may never be able to afford it.
Chirs Li Li, a native of the late 1960s, emigrated from Hunan to Vancouver in 2001, the predecessor of the golden immigration period in Canada. He first emigrated and then studied abroad, majoring in BCIT surveying at the British Columbia Institute of Technology. 10 years + Vancouver real estate agent.
Under the epidemic, Canada pays out benefits every month, and everyone is worried about inflation, so people who have some spare money tend to invest, not only in the real estate market, but also in the stock market (you can buy some stocks if you have money). Mortgage rates in Canada are at an all-time low, with the top five Canadian banks (not that kind of small banks), such as the five-year floating rate offered by Imperial Bank of Canada, which is 0.99%. If you do the math, you tend to buy a house, and even a five-year fixed interest rate can get 1.8%, which is already very low. Canada’s inflation rate is generally maintained at 2%, which almost means that the Bank of Canada lends you money to make a steady profit.
This wave of house price rise is actually brought about by the increased intention and ability of the middle class and the working class to buy a house. Dozens of people may bid for a house in the range of C $100 to C $1.5 million and need to increase the price to buy it. This is because the amount of loans available to everyone is within this price range, more than C $1.5 million, fewer bidders, less interest in houses with more than C $1.8 million, and even a drop in the price of luxury homes.
If you can buy a 3-bedroom tandem Townhouse in Surrey and Langley, the land is about 2500 to 2800 square feet.
I think the current trend is difficult to sustain. although the Fed says that inflation is only temporary and will not raise interest rates in the near future, inflation is really too high. once interest rates are raised, the repayment ability of home buyers will be affected, and the expectation of buying a house will be different. House prices will fall.
It’s not good to invest in an apartment in Vancouver, and the rate of return on rent is not high. In Canada, residential rental, management fees, maintenance and insurance premiums are borne by landlords, while commercial leases are borne by tenants. So unless the investment in Canadian housing is an apartment in an excellent location that ensures a stable lease, a detached house is better. The real increase in house prices is the price of land. Houses on the ground will be depreciated, but the land will not be depreciated. The old house was bought for C $2 million, of which the land may be worth C $1.5 million. Some people in Canada really buy this kind of old house, tear it down and store it there, waiting for the land to appreciate. I know it’s impossible for China to do this.
Office buildings are still a good business in Vancouver. Amazon, Apple and Microsoft have all built parks in Vancouver, driving up rents and businesses around them. After all, labor and real estate in Canada are cheaper than those in Silicon Valley.
The film industry in Vancouver is also very good, with Deadpool filming in Vancouver all the time (the mansion handled by Chris and borrowed by domestic TV crews. ).
The net return on office buildings is about 5%. Compared with residential investment projects, commercial real estate investment tends to bring a higher return on investment. I am acting for an office building is good, in the downtown seaside very good location, next year will hand in the room. Nearby is the Skytrain Heavenly Station Terminal, the commuting is very convenient, 3000 Canadian dollars per square foot.
Right. The overseas buyer tax is 20% in Vancouver and 15% in Toronto. If you are very optimistic about the subsequent upward trend, of course, it is better to have immigration status and then buy a house. If you become a permanent resident or citizen of Canada within one year after the transfer of ownership of the property, the overseas buyer tax can be refunded.
If you buy a short-term house, you actually have plenty of time to enjoy the dividend of rising house prices. In Canada, the future house is paid according to the construction progress. For example, the office building mentioned above pays 10% down payment this year, the final payment is only paid when the house is handed over next year, and the overseas buyer tax is also paid when the transfer of ownership is handled. So you actually have two years to settle your immigration status.