Bravo festival condos vaughan. House prices in Canada set a record. During the COVID-19 pandemic, money was flooded and house prices around the world rose to varying degrees, including Canada. Prices of new homes continued to hit record highs in July, with single-family homes taking the lead.Please Visit: Bravo festival condos vaughan to Get Your VVIP Registration Today!
Benchmark prices in this category, including freestanding, semi-detached and townhouses, surged 28.4 per cent year-on-year to an average of $1.52 million last month. The benchmark apartment price also rose by an average of 10% to $1.1 million, according to the construction industry and land development association (BILD), which represents homebuilders.
In addition, according to the survey, the average price of an apartment in the Toronto area reached a record $1141 per square foot (79000 yuan per square meter) in July. So far this year, sales of single-family homes and apartments are still above the 10-year average. Compared with a 10-year average of five to eight months of inventory, the inventory of single-family homes is only about one month, and that of apartments is about 4.1 months, compared with a 10-year average of 8.7 months.
While prices are rising wildly, Canada is facing a housing crisis, especially in Vancouver, where house prices and housing supply have always been a problem.
This is partly due to serious delays by property developers, who are reported to have built only 54 of the 234 social housing units contracted by developers in 2008.
On the other hand, there is the issue of distribution. according to the South China Morning Post, a secret study conducted by the Canadian Inland Revenue Service in 1996. Wealthy immigrants buy 90% of luxury homes in the greater Vancouver area and declare their incomes extremely low, according to the study.
In response, Trudeau, who is sure to be prime minister again, was worried. In the early days of his administration, Trudeau was looking for wealthy speculators from China, Russia and the United Arab Emirates to help push up Canadian real estate prices to dizzying heights.
On the national average, the final price of a house is close to C $700,000 (480000 euros)-an increase of 38 per cent from a year ago. The front-runner is the West Coast metropolis of Vancouver, which is particularly popular with Chinese investors.