You want to settle in one of Canada’s major cities but are worried about the real estate market? Just looking to invest in real estate? Or your goal is to shine at parties with a ton of knowledge on trends in Real Estate in Canada?
Here is a quick overview of real estate trends in Canada and city by city:
The Canadian real estate market 2013 remains in good health in the context of a declining world economy. This is due to a perfect combination of three factors:
- A low interest rate
- A price stabilization
- An healthy Canadian economy
Montreal: Real estate’s outlook in Montreal, following economic development, is moderate now, but really optimistic over the long term. Some audit firms prescribe to hold you property. Only condos prices decreased slightly during the last quarter of 2012 (-4%).
Average price of properties: 331,594 $.
Vancouver: Vancouver’s economy has soared and will continue this way in 2013. Specialists suggest buying office, apartment and industrial. You have to be careful! Vancouver is the second most inaccessible city in real estate in the world, just behind Hong-Kong (ratio income of households / average price of properties).
Average price of properties: 772,569 $.
Toronto: This is clearly a real estate hotspot in Canada. Toronto has a truly international market and a lot of sovereign funds invest in the city. Specialists prescribe to focus on the apartment sector. Despite some negative aspects in its economic situation, Toronto still has strong positive investor sentiment.
Average price of properties: 542,174 $.
Calgary: The town is in full expansion. Calgary seems to be the best place in Canada to buy a property and make an investment at the moment. Demand is high and you can choose any kind of strategy (hold, sell or buy) in any sectors (condos, apartments, offices, etc.).
Average price of properties: 440,675 $.
You are looking for a property in Canada? View up-to-date pricing and listings from the Canadian Real Estate Association.
Photo Credit: Wikipedia