Cielo condos price list. Sooner or later, the house price of Toronto will surpass that of Vancouver? In total, Canada has absorbed 45040 new immigrants, setting a record for attracting new immigrants in a single month in the past century.Please Visit: Cielo condos price list to Get Your VVIP Registration Today!
This figure is 19% higher than in August 2021 and 200% higher than in September 2020.
But as a real estate agent, Huang Sanshui is not concerned about the total amount but the distribution.
Canadian government data show. In September 2021, Ontario absorbed a total of 21730 new immigrants, an increase of 20 per cent from the previous month, while BC province absorbed 8300 new immigrants in September, an increase of 10 per cent from the previous month.
Through the comparison of figures, it can be found that Ontario is more attractive to new immigrants than BC province, and its ability to snatch new immigrants is obviously stronger than BC province.
This may explain why, in October 2021, the benchmark price of a house in the Greater Toronto area was only C $70,000 less than the Big temperature.
For example, Wanjin City, which has a status equivalent to Richmond City in Greater Toronto, is densely populated with ethnic Chinese, and Richmond City, which is more concentrated with another Chinese resident, is regarded as a weather vane of local house prices.
In September 2021, the average transaction price of Wanjin detached house was as high as C $1.876 million, while that of Richmond Hill was as high as C $1.927 million.
So the Canadian Housing and Mortgage Corporation (CMHC) described Toronto as a “highly fragile” real estate market, while Vancouver is the safest and most valuable real estate market in Canada. The reason is simple. Dawen residents feel that house prices have gone crazy over the past year, but compared with other hot spots in Canada, the Vancouver real estate market is calm.
Look at the median transaction prices of Manjin and Richmond Hill detached houses, which are C $1.68 million and C $1.7025 million respectively. At this rate, most house prices are likely to be overheated by 2022.
Huang Sanshui said that the current round of Canadian house prices, BC province is undoubtedly holding back. But considering that BC province has the highest benchmark housing prices in Canada, the increase in net worth is still ahead of other provinces.
From the perspective of self-occupation, you can buy a house where you settle down, but from an investment point of view, Ontario, Quebec and Ontario may be the more active and potential markets.
Huang Sanshui pointed out that the Canadian government’s release of new immigration data also specifically mentioned that the record number of new immigrants is not the “culprit” driving up house prices.
Because the vast majority of new immigrants approved in September 2021 are “old” residents who have lived in Canada for a long time. They have only completed the immigration approval procedures and changed the types of residents.
Therefore, the new immigrants are not the cause of the record trading volume in the Canadian housing market, and it is not easy to draw a conclusion as to who is buying and buying.
According to Huang Sanshui’s analysis, assuming that all the 8300 new immigrants absorbed by BC Province every month live in the Dawen area, according to the calculation of three people in each family, that is, less than 2800 families, if they all plan to buy a house in the month when they land, that is not a small purchasing power.
It is just not enough that the growth rate of purchasing power is less than 20% of Ontario, 29% of Quebec, 30% of Mann and 36% of Australia.
All in all, the attractiveness of BC province to new immigrants may be declining, and the high cost of living and house prices may be important reasons.
The next few months will be a major test of the ability of BC province to snatch new immigrants, with ordinary people having to choose between living environment and cost of living, except for the rich.