Bravo Festival Condos Floor Plans.Canadian real estate investment strategy. The long-running epidemic has not affected the Canadian real estate market. Canadian real estate prices have been on a rising trend since 2020, constantly setting new highs.Please Visit: Bravo Festival Condos Floor Plans to Get Your VVIP Registration Today!
More importantly, with bank interest rates continuing to fall and a growing population (vigorously introducing new immigrants), experts estimate that Canadian house prices will continue to rise in the next three years. For overseas buyers, it is undoubtedly a good time to invest. Next, we will introduce the main points of investment in buying a house in Canada from three aspects: looking at the latest housing prices, understanding the general situation of the housing market, and mastering the operation process.
According to the latest data released by Canadian professional real estate agency CREA in June 2021, the national average price in May was as high as C $688208, up 38.4% from the same period last year, while the average prices of the two hot cities Vancouver, BC and Ontario were C $916741 and C $866307 respectively, up 26.2% and 37.6% from the same period last year.
In terms of monthly sales data, sales fell 7.4% in May from the previous month, a slight decline for two consecutive months, indicating a moderation in activity in the housing market. It is worth noting that from April to May, the number of newly listed real estate fell by 6.4%, and the current national inventory is only 2.1 months, well below the long-term average (5 months).
Everyone knows that Canadian house prices have been skyrocketing, but few people really know how fast the rise is. Data from the Federal Reserve show that during the Great Recession, US house prices plummeted, while Canadian house prices not only did not fall, but also rose 30 times as much as the United States due to the government’s multi-pronged household lending stimulus policies.
CREA expects Canadian real estate sales to maintain their current momentum in 2021, which has been on an upward trend since February and is likely to hit another record high, with average house prices in Canada rising by about 16.5 per cent.
After reading the latest Canadian house prices, let’s take you to the second step of home investment: to find out the basic situation of the local housing market, especially the housing property rights, the rate of return on investment and the areas where you should buy.
As we all know, the property rights of domestic general civil housing is 70 years, while in Canada, real estate is generally traded in the market is permanent property rights, land property rights can also be privately owned. Common types of property rights in Canada include permanent property rights (Freehold), free co-ownership rights (Freehold Condominium), and Native Lands (aboriginal reservations), which are similar to those in the United States, which are subject to a property tax of 0.5-1 per cent a year.
It is worth noting that property tax is an important source of revenue for Canadian municipal governments. Most houses pay a certain proportion of property tax every year, and the tax rate may vary from year to year due to differences in various factors. but the range of fluctuations will not be too large. The property rights of other types of real estate are different, and there are also differences in the payment of property tax.