Scarborough town centre condos . The real estate market in Mandike is very hot. Mandike was one of Canada’s hottest real estate markets last year and recorded the region’s best sales growth in a decade in 2017.
The total sales of (Greater Montreal Area) in Mandike region increased by 8% to 44448 units, of which apartment sales and overall condition of (Island of Montreal) in Mandike Island are good. Sales in Mandike’s five most popular districts grew by more than 20%.
Unlike Toronto and Vancouver, there is no tax on foreign buyers. By contrast, sales in the greater Toronto area fell by 18% and those in the greater Vancouver area fell by 10%. According to professionals, the last time Mandike’s sales growth surpassed Toronto and Vancouver was in 1998.
The increase in the number of foreign buyers, especially from China, has also provided great convenience for direct flights to China’s two major cities, but they are still secondary as a whole, mostly concentrated in affluent neighborhoods and downtown areas.
Experts say Mandike is attractive to foreign buyers. The city, which offers high quality of life, affordable housing, low pollution and university system, was named the best city in the world last year.
According to a study on its website, the most popular cities in Canada for Chinese buyers are Toronto, Vancouver, Manchuria and Calgary, claiming that about 72% of Chinese buyers are for self-occupation, and 17.5% of buyers buy because of their children’s education. She claimed that although it is not possible to estimate the desire of local buyers in the Dawen region to enter the market in 2018, the demand of Chinese buyers can at least maintain the level in the second half of last year, but should not return to the peak in 2015. As for the continued rise in property prices in British Columbia, she quoted the data recently released by the British Columbia Real Estate Association to explain that the data showed that the number of housing orders was less than the previous level, or even about 1 / 3 less than the average figure over the past 10 years. Sellers are worried about the continuing shortage of supply, and the difficulty in buying new properties makes property owners even less willing to sell, and low supply is also the reason for the rise in property prices.