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Canada is one of the most unaffordable countries in the world for house prices, thepaper.citing the BBC reported on January 3. As of the summer of 2022, the average price of a home in the country was 777200 Canadian dollars (3.93 million yuan), more than 11 times the median annual after-tax income of Canadian households.
Although house prices in Canada fell slightly in 2022, they are still much higher than they were 10 years ago, the report said. The average house price in the country was C $522951 in 2013, compared with a 48 per cent rise in 2022. At the same time, average household income in Canada has been struggling to keep pace with rising house prices. The latest figures show that the country’s median after-tax income grew by only 9.8 per cent from 2015 to 2020.
Toronto and Vancouver, the two largest cities in Canada, are often among the top 10 most affordable cities in the world, according to an analysis of the price-to-income ratio by Statista, a German data analyst.
Canadian Immigration Minister Sean Fraser (Sean Fraser) said on January 3 that Canada had 431645 new permanent residents in 2022, breaking the record of more than 401000 new permanent residents set in 2021, CCTV News reported.
The previous immigration record was set in 1913, when Canada welcomed more than 400000 new immigrants, according to Statistics Canada. The record was broken for two consecutive years in 2021 and 2022.
According to a comprehensive foreign report on the website of Singapore’s Lianhe Zaobao on the 4th, Canadian authorities said that new immigrants play an important role in filling the labor shortage, bringing new talent to the community, and enriching the whole community.
According to the report, the Canadian government has gradually increased its annual target of absorbing new immigrants in recent years, with plans to increase the number of permanent residents by 465000 in 2023 to 500000 by 2025.
It is reported that as the population continues to age and the fertility rate is lower than the replacement level, immigration has become the main driving force of Canada’s population growth.
According to the 2021 census, immigrants account for about 23% of Canada’s total population, which will reach nearly 1/3 by 2036.