Real estate agents, Canadian citizens and foreign investors interested in the Canadian property market are all in agreement – as Canada becomes a more desirable place to live year on year so property investment in Canada becomes a more attractive prospect year on year.
Furthermore, because property in Canada is high quality, plentiful, incredibly affordable and easy to purchase, real estate in Canada is good value across the board.
If you need more proof, consider comparing what you can still buy for your real estate dollar in Canada to what you can currently purchase in the UK, the US, France or Spain for example.
You’ll quickly realise that the strong Canadian dollar (CAD) has not damaged the real estate market in Canada in the slightest. In fact, as the Canadian economy strengthens and more people move to the country, the demand for property will continue to rise which in turn will push up the value of any property investment.
And you simply still get more in Canada than you can elsewhere because property in Canada is less expensive overall – land is less expensive, the cost of living is lower, the standard of living is high…
This all adds up to the fact that non Canadian resident buyers are likely to be in an enviable position when it comes to investing in real estate, chances are they can afford a far higher quality purchase that they can ‘back home’ and they don’t have to become resident to buy in Canada if they don’t want to.
Add the fact that overcrowding is never going to be an issue in Canada as there are 30 million people sharing 38 million square miles of land, and the fact that Canada has a wealth of diverse property available in many stunning locations country-wide to fuel the imagination and satisfy the desires of even the hardest to please purchaser, and you’ll quickly realise why Canada remains such an attractive prospect for so many people.
And by remaining non resident you can benefit further from the property market – you don’t have to go through the rigmarole of applying for immigration acceptance, and yet you can still benefit from all Canada has to offer for up to 6 months of every year – you are even free to open a Canadian bank account, buy a car or land there for example.
Alternatively, you can join the ranks of foreigners choosing to emigrate to Canada including the 3.3 million Brits who have chosen to make Canada home permanently already. Canada is actually the third most popular place to emigrate to from the UK and more and more British citizens are being attracted to this land of opportunity, space and freedom.
This means that as Canada becomes more attractive as a destination of choice, property there will be more in demand which in turn will allow real estate prices to continue to rise making any property investment a good bet!
Whether you’re considering property in Canada from a non resident, investment stand point, with a view to letting it out before cashing in your investment in X number of years, or you’re thinking of purchasing a second home in an enviable location – or you’d like to go the whole hog and up sticks and emigrate to Canada, you will find the buying process a relatively easy and hassle free affair which can only add even more value.
Bureaucratically speaking the whole purchase process is often a lot less tricky than ‘back home’ – especially if you come from red tape rich Europe – and it takes a fraction of the time to complete the property sale process in Canada than in certain other countries where escrow periods are applied to real estate purchases.
And if you would like some cold, hard facts about past performance of the Canadian property market, an average single family home in the Vancouver area sold for CAD 13,500 in 1961, CAD 48,000 in 1974, CAD 120,000 in 1982 rising to around CAD 475,000 today.
It’s true what they say – where people want to live, property values will always continue to rise…and more and more people are choosing to live in Canada making Canadian real estate good value for property investors!