Artform condos . The benchmark price of an apartment in Canada has soared by 14000 a month. That is, Canadian apartment prices rose by C $14600, or 2.94%, to C $511500 in April 2021.Please Visit: Artform condos to Get Your VVIP Registration Today!
This means that the monthly increase in apartments has caught up with Canada’s annual inflation rate, with an annualized increase of more than 40%.
CREA said that the Canadian average is not a big deal, because the monthly price increase in the apartment market in southern Ontario has reached 8.23%. For local buyers, it costs an average of C $31800 more to buy an apartment a month later, which is a year’s income for many people. Take, for example, a C $500000 apartment bought by locals, which starts with a down payment of C $175000 in March 2021 and then sells it for $531800 in April 2021. Excluding transaction costs, it is equivalent to buying a fund product of C $175000, making a profit of 18% for that month.
Apartments are like small-cap stocks in Shenzhen. Once there is a strong moneymaking effect, even if many people know the hidden risks, speculators will be very willing to speculate in uncompleted flats because of their low total price, fast trading and sufficient leverage. Money never sleeps, speculation is not a derogatory term, some people buy a house is a rigid demand for self-occupation, some people buy a house is for profit. Judging from the current situation, the hot spots in the Canadian housing market are switching, the fire of independent houses is gradually extinguished, and apartment prices are ready to move.
According to CREA, the benchmark price of Canadian apartments rose 8.48 per cent year-on-year, with a net worth of C $40,000 as of April 2021, while Oakville, southern Ontario, led Canada with a 20.30 per cent year-on-year rise in benchmark prices and a C $116700 increase in net worth as of April 2021.
The benchmark price of an Oakville apartment is C $691600, while that of an apartment in Toronto, a hot real estate area, is only C $627000, and Vancouver claims to be the most expensive at C $729600. So investing in apartments should not be limited to Vancouver and Toronto. Some little-known cities are more suitable for making a fortune, especially in Ontario.
On a month-on-month basis: South Georgia Bay, Ontario, ranked first with a benchmark apartment price of C $418100 in April, up 8.23% from March; Barrie in Ontario ranked second, with a benchmark price of C $447800 in April, up 6.11% from a month earlier; and Niagara, Ontario, ranked third, up 4.94% from C $431500 in April.
Year-on-year: the benchmark price of Oakville apartment in southern Ontario was C $691600 in April, up 20.30% from April last year and third in Canada; Cambridge, Ontario ranked second, with a benchmark price of C $586200 in April, up 22.48% from April last year; and Niagara in Ontario ranked first, with a benchmark price of C $431500 in April, up 30.56% (US $101000) from a year earlier. And the net worth of apartments in all three places has increased by more than C $100000 a year, while only 15 per cent of Canadian households have an annual income of more than 100000.