Langstaff Gateway Condos price list.More than 20% of houses in Canada are bought by new immigrants. Royal Real Estate in Toronto released the latest statistics on the same day, accounting for 1/5 of all home buyers in Canada, becoming a significant driving force for Canadian real estate.Please Visit: Langstaff Gateway Condos price list to Get Your VVIP Registration Today!
The study defines new immigrants as immigrants who have been in Canada for less than 10 years and are currently immigrants, international students, work visa holders and refugees. The study interviewed 1500 new immigrants who had lived in Canada for an average of more than four years.
Within Canada, the Greater Toronto area, the lowland plains of BC Province and the Montreal area are the three main areas of choice for new residents, Soper said.
According to the data of Statistics Canada in 2018, the number of new immigrants in Canada now ranges from 200 to 3 million, contributing 80.5 per cent of Canada’s population growth. Phil Soper, chief executive and chairman of Royal Real Estate, said that in addition to supporting Canada’s economic growth, new immigrants are a vital driving force for Canada’s real estate industry. The Royal Real Estate report estimates that new immigrants across the country will need 680000 homes in the next five years and 91000 in BC province alone to meet their needs to settle down. But only if the existing immigration policy remains the same.
The survey found that 86 per cent of new immigrants from BC province would eventually settle in the city where they landed. The study also found that 72% of new immigrants chose to rent a house when they first landed in BC, Canada, only 9% chose to buy a house immediately, and 13% chose to live with relatives and friends to reduce housing expenses.
But with a firm foothold, 85% of new immigrants from BC province feel that buying a house is a very good way to invest. This figure is very close to the national statistics of new immigrants in Canada.
86% of new immigrants think that buying a house is an investment; 75% of new immigrants use their original savings when buying a house; and most people will consider buying a house three years after landing.
Across Canada, about 86% of new immigrants think that buying a house is a good way to invest, 75% of new immigrants buy a house with savings, and on average, new immigrants begin to consider buying a home three years after landing. CEO Phil Soper of Royal Real Estate also points out that many new immigrants do not simply regard real estate as an investment project.
Take BC province as an example, among the new immigrants from BC province interviewed, 32% are immigrant families with children, 28% are international students, 20% are independent immigrant applicants and 14% are childless immigrant families. These interviewees generally believe that the rent in Dawen area is too high, so it is better to use the money as a down payment instead of continuing to pay the rent. “they are actually investing in the future of the family,” Soper said in an interview with the media.
From the perspective of Canada as a whole, although new immigrants have strong purchasing power, only 32% of new immigrants can successfully buy the property they want. Native Canadians, by contrast, have a home ownership rate of 68%. This shows that new immigrants are restricted by many factors when they buy real estate.
Soper believes that Canada can improve the home ownership situation of new immigrants in many ways. “the overall demand for affordable housing for young people and new immigrants in Canada can be met by encouraging scientific and sustainable housing policies, with a focus on protecting and developing green spaces in our urban centres. Canada’s economy and labour market are expanding, and it is essential to maintain the pace of housing supply. “