Condominiums at Square One Distrikt . The reason for the hot property market. Wu Shusheng, vice president of the Ontario Chinese Real Estate Professional Association, said in an interview with Sing Tao Daily yesterday that it led to a record-breaking boom in the property market in July.Please Visit: Condominiums at Square One Distrikt to Get Your VVIP Registration Today!
It is related to the fact that buyers are expected to flock to the market this spring after the economic deregulation, and they hope that the sooner they enter the market, the more they can find a good market. When asked whether the situation in Hong Kong is unknown, whether property buyers have returned from Hong Kong or planned immigrant families, Wu said that in recent months, there are indeed Hong Kong families who plan to return or emigrate to Hong Kong to absorb local buildings. I believe that the situation will be more obvious in the next one to two months.
He described that the epidemic in Ontario improved in June and July, and the property market immediately rose. Wu Shusheng said that for many home buyers who had planned to enter the market in March or April, they were afraid that they might miss out on some high-quality properties with high prices and chose to enter the market as soon as possible. as a result, potential buyers also flocked out to see the surge in property sales in June and July.
At present, the property market in the Greater Toronto area tends to be in short supply. Wu refers to the small number of new developments and the release of second-hand properties, resulting in the buyer’s mentality of “buying as soon as possible”. He said that in the past July, when the transaction volume of buildings in the Greater Toronto area was more than 9000, but last month’s transaction volume exceeded 11000, and the figure did exceed the forecast.
When asked about the unstable political situation in Hong Kong, many Hong Kong families are planning to emigrate, and there is no shortage of people from Hong Kong who plan to return to their homeland. Last month, local property transactions broke records, and whether Hong Kong people who want to return or emigrate to Hong Kong should take credit. Wu Shusheng believes that Hong Kong people who plan to return and emigrate to Toronto should consider how to borrow mortgages and other arrangements.
However, he pointed out that in the past month, there were indeed more buyers from Hong Kong planning to buy homes in Hong Kong, and some people even actively entered the market, hoping to absorb local buildings while they were low. Wu Shusheng believes that the impact of returning and immigrant local buyers from Hong Kong on transactions in the local property market may gradually surface in one to two months’ time.