Cielo condos urbantoronto . House prices remain high. Canada has traditionally been a country dominated by self-owned houses, self-owned houses and independent and semi-detached houses, and the main force of home buyers is relatively young.Please Visit: Cielo condos urbantoronto to Get Your VVIP Registration Today!
This is because the house tax and land tax in Canada are very high, and self-owned houses still need to be taken care of, otherwise they will face a variety of fines, and the middle-aged and elderly often feel powerless. In addition, the country’s inheritance and gift taxes are also high, and there is no tradition of “raising children to guard against old age”. They are generally accustomed to “changing big houses for small houses” or simply selling their houses to live in nursing homes and apartments for the elderly, while young people have high expectations for the future and future income. Sustainable affordability, and there are general needs for marriage, fertility and housing improvement, they are more willing to buy houses and big houses, and banks are more willing to lend them money.
Because of this, the survey feedback, which is not unusual in other industrialized countries, has almost immediately aroused widespread concern, concern and different interpretations in Canada.
Many people believe that millennials are more likely to rent because of changes in income expectations and bank interest rates, as well as soaring house prices in Canada.
Since the beginning of this century, Canadian house prices have experienced at least three rounds of crazy increases, but there have been only two negligible small adjustments. In most areas, house prices have risen to a staggering level. Vancouver, Toronto and other first-tier cities are “horror”: in 2013, the Royal Bank of Canada Economics Institute released a report that the price of the Canadian real estate market is about 10% overvalued. The problem in the Greater Vancouver area is particularly prominent. in the report entitled “Housing Market Trends and residents’ affordability”, the average price of independent bungalows in Greater Vancouver was as high as C $783000 (the national average price was 363000). A family’s annual income needs to reach C $147000 to be easily affordable (the national average annual household income is 77200). The affordability index is as high as 82.2% (refers to the ratio of such housing to household income before tax, with a national average of 42.1%). Standard two-story detached house, the average price of large temperature is 833000 (national average 411000), the required annual household income is 157000, and the affordability index is 87.8% (national 47.8%). The average price of a standard two-bedroom apartment is 389000 (national average 238000), the required annual household income is 74800, and the affordability index is 41.8% (national 28.0%). In the view of financial institutions and rating units, they are all deep above the “red line” of “high bubble”. On the other hand, the average price and affordability index of warm houses are much higher than the national average prices, and there is a big gap compared with the second and third cities (such as the standard two-story independent house, Greater Toronto, which ranks second. The above three figures are 641000 yuan, 131000 yuan and 62.2% respectively).