How Is Canada Real Estate Market Doing Recently?
According to experts, the prices of houses and apartments in Canada have increased tremendously in the last couple of months. More and more people choose to buy rather than renting, which is quite understandable. Perhaps the large interest is one of the reasons why the real estate prices have hit the ceiling. After all, Canada is believed to be one of the best countries in the world because of its scenery, health care, and overall lifestyle quality. In the succeeding paragraphs, we’ll focus more on the Canadian real estate market in 2021, and we’ll discuss the possible reasons why thousands of individuals buy homes in America’s hat.
What Actually Happens with the Canada Real Estate Market Today
Many Canadians will agree that not long ago, houses in the country were not that expensive. Of course, buying a home is almost never a small investment. Most people need to save money for a couple of years before they’re able to buy not a house but an apartment. Others rely on bank credits they’ll be obliged to pay for the rest of their lives.
However, we can all agree that buying your very own home is surely one of the most satisfying things a person can do. Unfortunately, residents of Canada were unhappy to find out that this endeavor may now be a bit harder. The reason being is that, according to the latest statistics, the prices of real estate in Canada have grown immensely.
The most considerable changes can be noticed in the sale signs in Toronto. The capital of Ontario, which is a province in Canada, is a major and well-liked city in the country. Therefore, it’s logical for lands’ prices to be higher. Nevertheless, it was estimated that they are now 40% higher than they were last year. Plenty of people cannot afford to buy a home there, so many of them search premises in other cities, such as:
- Montreal
- Stratford
- Vancouver
- Kelowna
- Corner Brook
Canada’s real estate market prices have gone up due to several reasons. However, specialists believe that the most significant one is the fact that many individuals consider Canada the best country to live in. They also say that during the Covid pandemic, people who were working from home have managed to save a lot of money because of the lockdown. In the next section, we’ll list the top benefits of investing in a house in Canada.
Perks of Buying a Home in Canada
As we’ve mentioned earlier, Canada is considered one of the best countries in the world. Thousands of people buy a home in a certain city due to numerous reasons. Not only is the quality of life simply amazing, but the country is incredibly beautiful with its mountains, lakes, rivers, islands, and valleys.
- Excellent job opportunities – Canada is one of the countries offering the best job opportunities. Many young people immigrate there so that they can find a stable and well-paid occupation. Express Entry helps thousands of newcomers to Canada find a job quickly.
- An English-speaking country – In most parts of Canada, English is the official language. Unquestionably, this is quite beneficial considering that English is the most commonly spoken language on a global scale.
- Great health-care system – In Canada, most healthcare services are entirely free because taxes paid by residents cover all costs. Even if you don’t have a government health care card, in a case of an emergency you will be assisted immediately, without having to pay anything.
- Lovely climate – In this country, you will have the chance to enjoy warm sunny days while exploring some of the many breathtaking destinations. Winter, on the other hand, is thought to be the coziest and most magical season.
- Friendly people – It is said that Canadians are super friendly and will always do their best to assist you, even if they don’t know you. Many new people share that getting along with residents of the country is quite simple due to the fact that they’re open-minded and polite.
- Fresh air – Canada is not only mesmerizing with its scenery, but it’s a country where the air is clean and fresh. According to a survey conducted by the Fraser Institute, Canada takes the 9th 33 places for the cleanest country in the world.
The Future of Real Estate Market in Canada
Unfortunately, nobody can predict what will happen with the prices of the real estate market in Canada. Some experts believe that the houses and apartments will become even more expensive due to the huge interest from people not only from Canada, but from many other parts of the world, as well.
On the other hand, not a small percentage of specialists say that the prices are expected to drop down due to the Covid pandemic that is still going. Even though the number of infected residents is not as high as it used to be, many people’s incomes are still reduced. This would mean that those who wish to buy a home will have to postpone it for a longer time due to the increased prices.
