After investing and immigrating to Canada, many new immigrants plan to purchase property and settle down in the country. Recently, foreign media reported on the latest prices and future development trends of the Canadian housing market, providing the following references for new immigrants looking to buy property in Canada:
According to the latest Teranet-National Bank House Price Index, property prices in Vancouver in January 2017 have risen compared to December. On a national level, prices have increased by 0.5% since December, marking the fastest January growth in 18 years.
Price growth in several major cities is as follows:
Hamilton +1.1%
Toronto +0.8%
Montreal +0.8%
Vancouver +0.3%
Victoria +0.2%
Calgary +0.1%
Quebec City +0.1%
Halifax Flat
Winnipeg -0.7%
Ottawa-Gatineau -0.7%
Edmonton +0.1%
Year-over-year, national prices have risen by 13%. Toronto leads the way at 20.9%, followed closely by Hamilton at 17.6% and Victoria at 17.1%. Vancouver is somewhat surprising, at only 16.4%.
Ottawa-Gatineau rose by 4%, Montreal by 2.8%, Winnipeg by 2.4%, Halifax by 1.6%, Calgary by 1.4%, Edmonton rose by only 0.5%, and Quebec City saw a slight decline of 0.2%.
Analysts predict that after three consecutive months of decline, Vancouver's growth rate has begun to slow in 2017, though prices remain at a high level. Meanwhile, the explosive growth in the Toronto market will also likely cool down. Overall, domestic housing inflation in Canada will remain high in the short term, but because investment mania is currently driving home sales in Toronto, this boom may not be sustainable in the long run.
Worldway Immigration experts remind you: Investing in Canadian property after obtaining immigration status is a popular choice for global asset allocation today. By starting a business and purchasing property in Canada, you can enjoy the various benefits brought by Canadian immigration status; one person immigrates, and the whole family benefits. Worldway's Ottawa office in Canada can provide professional, end-to-end assistance for your successful immigration to Canada and your property investment. For more details, please call: 400-138-2929