South Forest Hill Residences reviews.How much is the house price per square meter in Canada? Unlike in China, Canadian houses are not sold by how much per square meter, but by how much a house or an apartment costs.Please Visit: South Forest Hill Residences reviews to Get Your VVIP Registration Today!
According to the November 2018 MLS (multiple listing Services system) housing benchmark price data released by the Canadian Real Estate Association, the national average house price in Canada is 618800 Canadian dollars (about 3.164 million yuan). The house price data of major Canadian cities familiar to the Chinese are as follows:
The picture is divided from top to bottom: black: comprehensive house price green: single-story independent room red: double-layer independent room brown: townhouse purple: apartment.
Greater Vancouver is the region with the highest house prices, with the composite benchmark price of the MLS house price index reaching C $1,042,100 in November, down 1.4% from the same period last year and 1.9% from October this year. Victoria, which also belongs to British Columbia, costs C $686400.
Benchmark price trend of various types of housing in Greater Vancouver from January 2005 to January 2019.
Take the following typical apartment in Vancouver as an example, the two-bedroom, two-bathroom and one-bedroom garage, with a floor area of 79 square meters, sells for 649000 Canadian dollars (about 3.32 million yuan), which translates to 42000 yuan per square meter.
Prices in Greater Toronto, Ontario, another popular city for Chinese families to buy homes, were C $763600 in November, down 2.7% from a year earlier and 0.36% from October. During the same period, the house price in Hamilton, Ontario is C $581900 and Ottawa C $393600.
In the Greater Toronto area, the median price of two-story independent houses is expected to grow by 4.5% year-on-year to 1027200 yuan in 2020. This is due to insufficient supply and population growth, and the market tends to be tight, which continues to affect house prices in the core areas and many districts. In terms of more affordable apartments for salaried families, the median price of apartments in Toronto will rise 6% to 600000 yuan next year, 5% in Montreal and 3.5% in Ottawa, and the total property price is expected to exceed 500000 yuan. In Vancouver, apartments rose by about 3% to 666900 yuan.
It is said that house prices will rise next year, even if not by much, but there are cities across the country that expect prices to fall. There are two cities, Winnipeg and Regina, where prices in Winnipeg will fall 0.25% to $322600 based on two-story detached houses, while Regina will fall 0.5% to $386000, the only drop in the survey of these nine cities. The reason is simple: supply exceeds demand. As said at the beginning, Phil Soper said that last year many potential home buyers were put off because of several government policies that clearly targeted overseas buyers (buyer tax or speculative vacancy tax), or stress tests and stricter mortgage rules, and then planned to re-enter the market this year because of increased immigration and rising demand. Phil Soper believes that the central bank’s cut in interest rates will stimulate new housing demand. A healthy job market (5.5% of the national unemployment rate is as low as 4.7% in BC province) is also a factor in rising house prices.