Kings landing condos concordcondos . Some owners do not know where to go after taking advantage of the high property market to sell their own properties. Domestic property prices soared during the COVID-19 pandemic, and many sellers hope to make a profit by selling houses when property prices are high.Please Visit: Kings landing condos concordcondos to Get Your VVIP Registration Today!
However, after selling self-occupied houses at high prices, some sellers failed to buy houses again in the hot property market, and they did not know where to go.
Clement (Garry Chalmers), 71, sold his house in (Kelowna), Kilona, British Columbia, for 875000 in early April, 370000 yuan more than he paid six years ago. Clement thought he would make a lot of money from the sale, but he and his wife later found that they could not find a second self-contained apartment after the sale of their own property. As house prices soar, our final bids always fail, so I can only change my buying strategy. At present, I buy two uncompleted apartments, one for self-occupation and the other for rent, says Mr Clement. At the same time, look for your ideal house.
Clement said that because the renovation of the old house is expensive, he has always wanted to move to a newer house with his family. The old house was sold soon after it was listed, but at present the couple have to wait nine months before they can move into a new residence.
Clement’s experience is not unique. According to CTV News, many sellers living in hot cities with a hot property market have decided to sell their homes at a profit, but it takes a long time to reconsider the issue of housing after sale, and some sellers even have to change their original housing demand in order to find a new home as soon as possible.
Romana King, head of content at Zolo.ca, a real estate website, believes that many sellers are worried about missing out on making a profit when property prices are high, while some are worried that interest rates will rise, when the property market will cool down and fail to get a piece of the pie this time.
In the Dawen area, for example, as many as 8287 new houses were put up for sale in March, setting a record for the largest number of listings in the region. In Toronto and Calgary, new listings grew by 50% between February and March and moderated relatively in April.
Sobel (Phil Soper), chief executive of Royal Real Estate, said that in the summer of 2020, most young people were the main force in the property market, hoping to buy the first property, but now more and more different types of buyers are bidding. Generally speaking, the increase in the number of listings can ease the pressure on the market and provide rare housing for thousands of potential buyers, but the number of homes for sale is still below demand.
Su Bo believes that the current real estate market is very strong, not so-called illogical. Property prices continue to soar in many parts of the country, and the housing boom has spread to the province, making the real estate market in many cities in the province booming, he said.
Between March and April alone, prices in Vancouver rose 2.6 per cent, Calgary in Asia rose 2 per cent, and Edmonton, the capital of Asia, rose 7 per cent, according to data from regional real estate boards. In Ontario, house prices in Toronto are more stable, with prices up 9 per cent from last year, but apartment prices have risen only slightly, while detached house prices have risen more than 18 per cent.
Semelak (David Semerak), financial adviser to Meridian Credit Union, an Ontario credit union, said that some sellers of houses in big cities planned to sell and move to the suburbs, but found that the money they had received from the sale did not live up to expectations.
Because mortgages are likely to be more expensive, sellers may choose places close to their original location after the sale of their own homes, Semelak said. Some sellers prefer houses in the suburbs, but house prices in the suburbs are also rising, and many people have to readjust their financial plans or reconsider their retirement plans. After selling their homes, some sellers take a wait-and-see attitude and temporarily choose to rent, in the hope that interest rates will rise and property prices will return to normal levels.
Su Bo said that due to the smooth progress of vaccine promotion in the country, buyers are more optimistic about the post-epidemic era, making more sellers willing to participate in the property market, but high housing prices will also pose a challenge to sellers. At present, the Canadian real estate market has become a seller’s market, but if the seller does not have a backup residence after the sale of his own house, then the seller immediately becomes a buyer.