m city 5 condos for sale.Foreigners are prohibited from buying houses in Canada! Prime Minister Trudeau led the Liberal Party to reverse its approval rating, from 2% behind the Conservative Party to more than 4% now. According to CBC, Trudeau has a 73% chance of winning the general election and is likely to be re-elected as prime minister.Please Visit: m city 5 condos for sale to Get Your VVIP Registration Today!
It seems that Trudeau’s promise to voters on a range of livelihood issues has begun to have an effect. One of the most eye-catching is the problem of housing prices.
The Liberal Party’s new housing plan. These include the construction of 1.4 million new homes over the next four years and a total ban on foreigners from buying Canadian homes for a period of two years.
Trudeau said that soaring house prices and insufficient housing supply have put great pressure on the younger generation in Canada, more potential homeowners have been forced out, and the growing housing problem has long been the number one problem facing Canada.
The highlights of his plan include banning foreigners from buying homes for the next two years, a measure aimed at curbing rampant property speculation driven by offshore funds.
A vacancy tax will be levied on houses and land already purchased by non-residents. Trudeau also said he would expand the upcoming tax on vacant homes owned by non-residents and non-Canadians to include vacant land owned by foreigners in big urban areas.
At the same time, levy a “property speculation tax”. Buyers are required to hold the property for at least 12 months, otherwise they will face heavy taxes.
It is not easy to build a house in North America. Even if you get financing, you will encounter the risk of environmental protection, neighborhood ism and other risks that lead to the construction of a house. The most tragic case in the book is the development and construction of a graveyard, but it will take decades to sell, because the graveyard can only be self-occupied and cannot be rented. The newly deceased have no family members buried in other cemeteries.
The Chinese have carried out impressive real estate development in most areas, adding many chapters to the negative example. A friend of the financial business group said that he once participated in an investment aimed at real estate development, and the shares of the development company went public, but the share price fell 90% +. The history of real estate development in China is only 30 years. With such pitiful experience and sufficient funds, the Chinese come to Canada to do real estate development. Their courage is commendable, but there is no need to pay so much tuition. Cooperate with local developers, step by step, so as not to lose everything.
