33 yorkville condonow . The Canadian real estate market is strong. Over the past month, talk of a “subprime crisis” has made people worried about the Canadian housing market.Please Visit: 33 yorkville condonow to Get Your VVIP Registration Today!
However, the latest figures show that Vancouver real estate prices hit another record high last month, with all kinds of home prices breaking through record highs.
The benchmark price of apartments in the region was C $571300, up 17.8% from a year earlier, up 3.1% from a month earlier; the benchmark price of a multi-family house rose 13.1% from a year earlier, up 1.9% from a month earlier to C $715400; and the benchmark price of a single-family house rose 3.1% from a year earlier, a month-on-month increase of 2.9% to C $1561000.
As shown in the figure below, the blue line represents the price trend of single-family houses, which have broken through last year’s highs; the prices of multi-family houses represented by the red line and apartments represented by the green line are both at record highs.
In August last year, British Columbia imposed a 15% transfer tax on overseas buyers in an effort to cool the housing market. Since then, Vancouver property prices have fallen, when the market thought that the Vancouver real estate market was beginning to normalize and turned its attention to Toronto, where prices are also booming, but recent data show that the Vancouver real estate market has begun another strong rebound.
The only decline in May was in the number of transactions, which fell 8.5 per cent to 4364 units from a year earlier, according to the data.
In other words, a 15% foreign property tax only curbs the pace of property transfers, and a new wave of more aggressive buyers have emerged who don’t seem to care about the 15% property tax at all.
According to Wall Street news, the average selling price of new homes in Canada is 51.8% higher than that in the United States, while in the same period last year, the average selling price of new homes in Canada was only 36% higher than that in the United States.