Tridel new condos . Ontario property appreciation of 37 billion which cities rose the most? According to the annual report released by the Municipal property Evaluation Company (Municipal Property Assessment Corporation), property values in Ontario increased by more than 37 billion yuan in 2020, while Wanjin City increased by 966 million yuan, ranking seventh in the top 10 rankings. Toronto tops the list with 11.65 billion yuan.
According to the news website yorkregion.com, more than 60 per cent of the new property price increases are located in 10 cities, of which Wanjin ranks seventh and other cities, Toronto, 11.65 billion yuan, while Ottawa is 2.68 billion yuan, Mong City 1.49 billion yuan, Hamilton 1.15 billion yuan, Missouri 1.14 billion yuan and Binton 1.11 billion yuan.
As for $951 million in Oakville, $901 million in Meaton and $706 million in the City of London, it is not on the list.
Nicole McNeill, the company’s president and chief executive, said that even during the outbreak, Ontario properties continued to grow in value, earning 37.3 billion yuan from new buildings and renovations of existing properties.
She said that in 2020, Ontario will add more than 360000 residential units and 16000 co-managed residential units. As people spend more time at home and invest in improving the decoration of their houses, the number of decoration permits has increased by 28 per cent.
The above figures come from the renovation of new housing estates and existing properties. Because in March last year, the provincial government postponed the original provincial property evaluation and renewal work.
At present, the province’s property prices and new estimates are based on January 1, 2016, which is the date of the latest provincial assessment. Once every four years, the company assesses the current value of properties in various parts of the province in order to understand the changes in the property market, and on the basis of the assessment, the municipal government sets the property tax required to pay for community services.
However, not everyone thinks that soaring house prices is a bubble. In Montreal, Goetzel refuted the idea that he decided to buy a house for fear of missing an opportunity or “missed phobia” (FOMO). He believes that the current housing demand is driven by buyers who are interested in leaving downtown apartments in pursuit of larger houses and green space, and because the epidemic limits spending on vacations, entertainment, clothing and other expenses. Helped Canadians save money. He thinks this is the biggest difference from the market in 2016-2017, when real estate investors flocked to the hottest markets.