Since August 2nd, 2016 foreigners who buy residential property in the Metro Vancouver area have to pay an additional 15% property transfer tax. It is part of a B.C. government plan to cool down real estate market in Vancouver. Some experts believe that it will shift the foreign buyer to other parts of B.C like Victoria or even to Toronto or Ottawa. Toronto real estate market is the second hot market in Canada, the average home price for some areas like Richmond Hill is above 1 million dollar.
People constantly ask me this question is going to go higher than what it is right now ? how is Real Estate Market Growth in Canada is going to be in future and I always answer with some simple economic indication that has a huge impact in Real Estate Market Growth in Canada.
Real Estate Market Growth in Canada
If you’ve been keeping up with Canada’s real estate news, then you know that the market is very hot right now, and there has been a huge growth in home value and development across the country. But as an investor or potential home buyer you’re probably thinking – how far will the real estate market grow? While there’s no 100% certain way of telling how much further the market can go, these are some major factors that will influence the real estate market in Canada this year. Read more
When it comes to big decisions like buying a home, you need to really take the time to think about what you’re doing, and take deliberate, planned steps from start to finish. Houses provide a sense of ownership and free you from the pains of renting, but it’s a huge monetary investment, and there’s also the hassle of moving and upkeep to consider. While you could simply ‘bide your time’ with a rental and wait for the lease to be up, buying a home has a level of moderate permanence that needs to be considered as well. Read more
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Buying or selling real estate is one the most important financial transaction in your life. It has to be handled with care, professionalism, love and knowledge. Meet FARAH your dedicated real-estateohlic expert in York region, North York and surrounding areas. Contact me any time to find out more about my comprehensive marketing plan.