forma condos.Housing sales set a new monthly record for more than 40 years. Canada recorded more than 62000 housing transactions in July, the highest monthly record in more than 40 years, according to statistics released by the Canadian Real Estate Association on Aug. 17.Please Visit: forma condos to Get Your VVIP Registration Today!
Home sales across Canada rose 26% in July from a year earlier, and transaction volumes rose for the third month in a row.
Of this total, sales in Greater Toronto, Greater Vancouver and Montreal increased by 49.5%, 43.9% and 39.1% respectively.
Costa Polopoulos, president of the Canadian Real Estate Association, said that as life is getting back on track, the real estate industry has ushered in a very busy summer.
The number of new homes listed in July rose 7.6% from June, with the main contribution coming from the Greater Toronto area.
The ratio of national home sales to new listings rose to 73.9% in July from 63.1% in June. Nationwide inventory months fell to an all-time low of 2.8 months.
The average price of a home sold nationwide in July was C $571500, a record high and 14.3 per cent higher than the same period last year. The main markets driving up average prices are Greater Vancouver and Greater Toronto.
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.