Design district.Canadian real estate rents rose 15.4%. Statistics Canada and the Canadian Housing Mortgage Corporation jointly released a report revealing the proportion of Canadian properties owned by overseas residents.Please Visit: Design district to Get Your VVIP Registration Today!
The results show that properties purchased by overseas buyers in Toronto and Vancouver are more expensive than those of local residents. Data show that among all types of residential properties, there are the largest number of overseas buyers who own apartment buildings. Statistics Canada believes this has something to do with the fact that apartments are cheap, regularly managed and easy to manage.
Data show that 3.4% of residential properties in Toronto are held by overseas residents, accounting for 3% of the total property value. In Toronto and surrounding areas, the average price of a detached house owned by overseas residents is C $944100, 12.3% higher than the average price bought by local buyers ($840600). In terms of the median rent for an one-bedroom apartment (condo), Toronto costs an average of $2ji020, up 15.4% from a year ago, while Vancouver’s average is $2ji0000, the third highest is BC’s Burnaby, with an average of $1jue 430, Montreal $1jue 310 and Ontario’s Barrie $1260.
Figures released earlier this month by Urbanation, a Toronto-based real estate consulting firm, also showed that in the fourth quarter of last year, the average monthly rent for an apartment (condo) in the GTA area was $21,166, compared with $2392 in the city of Toronto. Over the past year, apartment rents in Toronto have risen 9.1%, while the number of available rental units has fallen by 11%, while the number of newly listed apartments has fallen by 16%, indicating that the Toronto rental market has become increasingly tight, according to Urbanation’s analysis.
Toronto property in Canada increased by 26% last year, with great investment potential. Sales figures released by TREB of the Toronto Real Estate Bureau in January 2017 show that overall house prices in the Toronto area this year are 22.3% higher than in the same period in 2016, while sales are up 11.8%. While house prices are rising, housing inventory is falling, with new housing falling by 17.6% and existing housing by 49.5%. This means that the current Toronto real estate market has been in short supply, real estate still has a huge room for appreciation.
And the vacancy rate in Toronto is extremely low, only 1.3%. The extremely low vacancy rate is also the guarantee of real estate rental income to a certain extent. The return on rent in the Toronto area can be up to 6%, thanks to a stable rental market. Real estate projects in high-quality school districts will bring higher rental income.
At present, there are road platforms that are also available for high-quality real estate in the Toronto area, such as the Concord Canada House project recommended to you today as a gift for Canada’s National Day.
The project is located in Spadina Ave, next to CN Tower in Toronto, one of the noblest and richest areas along the lake in the city center, only 3 minutes from Chinatown and 10 minutes from Financial Street. The project is close to the Gardiner highway and is a few minutes’ drive to the Lake Island Airport. The transportation is extremely convenient. 1 minute walk to CN Tower and Bremner Blvd Stop,2 minutes walk to future RailDeck Par, and only 3 minutes walk to Ontario Lakeside area.
