Many new immigrants are concerned about Canada's real estate. The Canadian real estate industry started early and has a history of nearly a hundred years. In recent years, the Canadian real estate market has generally shown a steady and healthy growth trend, remaining stable.
The Canadian real estate market is relatively open and competitive. In Canada, there is a unique real estate intermediary management system and operational methods, with over 85% of transactions conducted through intermediary services.
The Canadian government does not directly intervene in regulating the real estate market. The Canada Real Estate Association (CREA) supervises and influences the implementation of policies related to the real estate market. The Canada Real Estate Association is one of the largest single-industry trade associations in Canada. Its main task is to represent and protect the interests of its members, strive to enhance the professionalism and integrity of the industry, and oversee the implementation of policies to ensure the public's property rights.
Currently, the average price of a house in Canada is approximately CAD 300,000, which is 13% higher than historical records. Ottawa, the capital of Canada, has housing prices that are close to the national average, indicating significant potential for price increases. A survey by Mercer Human Resource Consulting of the cost of living index in 143 major cities shows that Ottawa ranks 109th in the consumer price index, making it the most affordable, cost-effective, and cheapest major city in Canada.
