festival condos menkes.House prices hit a new high? Canada’s red-hot property market became even hotter in November, with average prices hitting an all-time high of C $720850, according to data released by the Canadian Real Estate Association on Wednesday.Please Visit: festival condos menkes to Get Your VVIP Registration Today!
Cliff Stevenson, chairman of CREA, said in a press release that the unseasonally adjusted figure exceeded the previous record of C $716828 set in March as the disconnect between supply and demand for housing continued to push up prices. “even if it is traditionally a slow period of the year for housing, conditions and price trends are the same as the record levels we saw this spring. Things may be calmer for the rest of December and January, but Xiao Zhu believes that next year’s spring market will undoubtedly be a very interesting market. ”
During the domestic epidemic, the value of real estate has seriously shrunk, and the special period when cash flow is king has dealt a heavy blow to the real estate industry in first-and second-tier cities. On the contrary, in Montreal, Canada, the epidemic is still serious, but local property supply still exceeds demand, perhaps because the local real estate bubble is relatively small, or the demand for independent houses by investors during the epidemic. It may also be the sudden rise in prices in Canada, which is thought-provoking.
There is a huge difference between Canada and the United States, and the strength of the United States is mainly reflected in its balanced development. apart from the well-known New York, Los Angeles and Chicago, a large number of second-and third-tier cities are economically well developed. infrastructure and cultural development are relatively balanced, population distribution is also very scattered, not absolutely concentrated in a certain region.
Canada is different, the climate is cold, sparsely populated, coupled with historical and economic development reasons, the limited population is mainly moving to big cities, resources are often concentrated in big cities. Not to mention the factor of immigration, at present, almost all of the 400000 immigrants in Canada every year choose to settle in big cities, and only big cities have more employment opportunities and educational resources, so that new immigrants can integrate and settle down more quickly.
For immigrant families, my advice is to “buy”. Of course, there is a premise for everything. Under the premise of sufficient down payment, it is a wise choice to buy your own house after immigration.
First of all, from an economic point of view, the rent in Canada is higher and it is not cost-effective to rent. In Vancouver, for example, the monthly rent for a $800000 townhouse, townhouse, is between 2600 and 2800. If you buy a house with a loan, new immigrants can borrow 65%, and the interest rate is 2.5%. We have a loan of 550000 for 25 years, and the monthly payment is 2400 per month. Of course, their own house also need to consider property fees and land tax, but all plus will only be a little more expensive than renting, basically at the same level. We all know which is better to pay rent VS monthly payment.
Of course, we can rent a cheaper house at a lower price, such as a basement in a detached house for 1500 Canadian dollars, but at the expense of quality of life. This is the second point I want to make. We tend to overlook another important factor in buying a house, the quality of life. Your own house can be decorated, decorated and purchased according to your wishes. If you want to get a video room, piano room, game room, billiards room and studio, there are many restrictions on renting. After all, it is not your own house, and you don’t know how long you can stay. Most of the time you can make do with it.
Even if it is the same house, the mentality of what you own and what you rent will be different. For immigrants, a comfortable and stable home is the basis for integrating into the new environment, their own house, big or small, is a haven from the wind.