Forma condo prices. Fundamentals of the Canadian real estate market. As the time has entered into March, the global COVID-19 epidemic does not seem to be under effective control. Even in addition to Chinese mainland, other countries are still getting worse, and it has obviously had a considerable impact on the global economy.Please Visit: Forma condo prices to Get Your VVIP Registration Today!
However, this incident has led us to discover an important value that has rarely been mentioned in the past-to be prepared in advance.
First of all, novel coronavirus is no longer a big trouble that only belongs to China. Japan, South Korea, India, Italy, Australia, the United States, Canada and other countries are all immune.
Under the influence of this epidemic, governments and people of various countries have made different official and private instinctive reactions to China. In some countries, Chinese are prohibited from entering the country, and there are even acts of beating Chinese and sabotaging Chinese restaurants.
By contrast, Canada immediately spoke out in support of China’s fight against the epidemic. It has donated 16 tons of materials to China free of charge, showing great love and tolerance to the virus carriers who have arrived in Canada. This makes the Chinese people and overseas Chinese living in Canada deeply feel the friendliness of Canada, and adds another tradeoff to those who are still applying for immigration and studying abroad.
In terms of the epidemic, more than 30 people have been diagnosed in Canada, of which 13 are infected in Toronto, the largest city. Although we all understand the seriousness of the virus, not many people really wear masks to go out, and the Government has not put forward a first-level alert, but only suggests that we should stock up some food in advance. On the whole, the impact of the current epidemic on our lives is limited.
Virus aside, the Toronto real estate market began to heat up after November last year and continues to this day, with transaction volume and house prices rising much faster than expected in just a few months.
In February, for example, sales in the Toronto market soared 45.6% in February compared with February 1919. At the same time, the price also rose 16.7% compared with February last year! The average price is 910000 Canadian dollars.
The immigrant population has greatly increased, the market funds are in place, the interest rates on bank loans have been reduced, and the market supply is insufficient, which has become the common situation in Canada, especially in Toronto, which is also the core reason for the continuous refresh of Toronto real estate market data.
If the epidemic does not break out, the market will continue to accelerate. More money will quickly choose to enter Toronto. If the epidemic really breaks out in a short period of time, it will immediately affect the maneuverability of housing inspection and the trading volume in the market. But wait until the summer at the latest, the outbreak of early demand accumulation will once again quickly push up prices and trading volume in the Toronto property market. The rich all over the world who want to emigrate to Canada will bring money into the country through various channels. Especially Toronto, an international metropolis with rich education and medical resources, convenient transportation and many employment opportunities.
Some time ago, I saw a joke from my colleague. Say yes, don’t think that only Chinese people are buying houses. At the same time, there are Mohamed, Tchaikovsky, Smecta and so on. This also reflects a characteristic of immigrant countries: when the market is on the rise, all the money will be quickly targeted here.
Therefore, in the long run, the epidemic can only make more people around the world realize that at a time when finance is becoming more fragile and money is more and more difficult to earn, it is necessary to hoard some of the funds to a country with stable national policies and improve the financial system. Countries and cities with room for development are necessary.
In short, more and more money will flow into Toronto for a foreseeable time. And buying real estate is the consensus of investors.
In Toronto, the fastest-yielding real estate investment is the sale of uncompleted flats.
The transfer of uncompleted flats is similar to the purchase of uncompleted flats, but there is no need to wait for the completion of the project in 3-4 years. Basically, after the purchase, you can collect the rent with the key from March to June and transfer the property right from the developer directly to the buyer, saving about 4% of the land transfer tax. In addition, the house price is usually about 5-10% cheaper than the new second-hand houses around, which can be said to be earned.