daniels mpv condos for sale.Some foreigners are prohibited from buying houses for two years. Canada officially banned some foreigners from buying more homes in the next two years in an effort to curb soaring house prices in the country since the COVID-19 pandemic.Please Visit: daniels mpv condos for sale to Get Your VVIP Registration Today!
According to the British Broadcasting Corporation (BBC) on January 3, Canada is one of the most unaffordable countries in the world. 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.
According to CNN reported on the 1st, some Canadian politicians believe that the country’s soaring house prices should be attributed to foreign buyers snapping up homes and real estate investment. Canadian Prime Minister Trudeau’s Liberal Party said, “Canadian housing is attracting speculators, wealthy companies and foreign investors, causing problems such as underutilization and vacancy, rampant speculation and soaring prices.” The house is for people to live in, not for investors. ”
Reported that the ban issued by the Canadian government on January 1, since the same day, prohibit non-Canadian citizens or non-permanent residents of the country from buying homes. International students, applicants for refugee status and people with temporary work permits who have resided in the country for at least five years are not bound by the law, and those who violate the ban will be fined C $10000.
In response, Ahmed Hussen, Canada’s federal minister for housing, diversity and inclusiveness, said in a statement that the ban was aimed at preventing buyers from treating property as a commodity rather than a place to live and start a family. “through this legislation, we are taking action to ensure that homes are owned by Canadians, which is in the interests of everyone living in this country,” Husen said in a statement.
The Canadian Real Estate Association (CREA) expressed concern about the law, saying that “Canada has always welcomed people from all over the world and is known as a multicultural country.” Under the current proposal, banning non-Canadians from buying homes may affect our reputation as a hospitable country, and the potential benefits of the ban may be small. “