Leftbank condos prices. House prices are rising crazily? At present, the mortgage rates of major Canadian banks have fallen to a new historical point.Please Visit: Leftbank condos prices to Get Your VVIP Registration Today!
For example, the interest rates on real estate loans currently implemented by rbc (Royal Bank of Canada), BMO (Bank of Montreal) and HSBC are basically between 1.5% and 2.0%, which obviously reduces the cost of debt borne by Canadians, reduces the cost of buying a house, and makes it easier to stimulate market demand.
Canada still works from home since the COVID-19 outbreak last year, and moving away from the city center to work in remote areas has led to a sharp increase in demand for single-family homes. This is especially true in the suburbs and towns where the population density is small and the environment is comfortable, and the market in short supply has contributed to the inevitable rise in house prices.
Canada usually absorbs more than 300000 new immigrants every year, but with the global outbreak last year, various countries began to “close the door”, making it impossible for new Canadian immigrants to enter the country. At the same time, in order to deal with the labor shortage caused by the epidemic, the Canadian government has relaxed its immigration policy and plans to absorb at least 400000 immigrants in the new year. Therefore, the market expects that after the epidemic is effectively brought under control in the second half of 2021, the number of new immigrants landing will show retaliatory growth, adding to the “home buying fever” fire, property prices will be further pushed up. The rapid growth of population, the shortage of housing and the market conditions that supply exceeds demand will naturally push up prices.
It has become an indisputable fact that the market is in short supply and housing prices are soaring, which attracts more and more speculators to start and then sell at high prices. Grabbing offer has also become a common occurrence. Under such circumstances, people’s concerns began to increase. In this regard, the Canadian Real Estate Association (CREA) believes that housing supply will slowly return to the market, but it will still take some time to ease.
From the skyrocketing property prices, we can also see that Canada has been gradually relaxing its immigration policy since last year, hoping that more new immigrants will land to make up for the local labor shortage. The new policies introduced by the provinces are particularly beneficial to local international students and skilled migrants. According to the analysis of the immigration lawyer at Xinqi Point, the favorable policies of the provinces will remain stable in the next three years, which is the best time to apply for study in Canada and skilled immigrants.