Sugar wharf condos phase 3 . Ranking of cities with the heaviest housing burden. Cities such as Hong Kong, Vancouver, Sydney, Auckland and Toronto are considered “seriously unaffordable”, according to a report released by the Urban Reform Institute and the Center for the Frontier of Public Policy.
Canada is the only country with two cities in the top five. The report is based on a rating that measures the relationship between income and house prices in the third quarter of 2020. The survey involved 92 major cities in eight countries.
If the housing price burden from low to high ranking, many cities in Canada are in the second half of the ranking, that is, the region with heavy housing burden. Ottawa ranks 57, Montreal 62, Toronto 88, Vancouver 91, Hong Kong at the bottom and 92 is considered to be the city with the heaviest housing burden.
The most affordable city on the list in Canada is Edmonton, ranked 17th. The cities at the top of the list are all American cities.
“since 2004, the number of housing markets in the United States and Canada has grown steadily but become unaffordable,” the report said. ”
This view is partly supported by another recent report, which says that you have to earn more than 127000 yuan a year to afford a house in Toronto more comfortably.
According to the analysis of real estate agents, the continuous popularity of the property market is affected by the low-cost housing loans brought about by today’s low interest rates. In the fast-growing market, how to set the price can not be determined by the government valuation, which also poses a challenge for sellers and seller brokers, so we can see that the final selling price is much higher than the asking price.
On the other hand, low lending rates are stimulating sales and prices, and many homeowners take the opportunity to raise money at low interest rates and invest in new properties. First-time buyers also take the opportunity to enter the market, but for them, in the face of bidding, their price increase is limited, making them at a disadvantage, and even have to risk giving up house inspection and other risks as bargaining chips.
Apart from self-contained houses, the Pak Man market is also very active. Take a 965 sq ft Pak Man flat in the Kitsilano community as an example, the asking price is 899900 yuan, and the final sale price is 207000 yuan higher, reaching 1.107 million yuan.