Living in Canada and the Canadian Property Market

Taking a look at going to live in Canada and investing in Canadian real estate or buying a home

Real estate investors drawn to the Americas might want to give Canada a very close look right now.  Buying property in Canada is becoming a very attractive undertaking because although prices are considered rather low by European standards, they are rising - and rising fast.  At the same time, retirees and would be expats looking for a great country to live in should also consider Canada…

The upward turn in the Canadian property market is very good for investors who want to see strong returns.  How high the market will climb is anyone’s guess, but the reality is the recent trends have shown some major increases.  And there are plenty of indicators to show the boom will continue for at least a while into the medium term future.  This article looks at living in Canada and the Canadian property market…

According to Montreal’s The Gazette newspaper, prices are climbing in all parts of the country.  In Saskatoon in Saskatchewan for example, the average price for a basic condominium is now at CAD 207,500 - this is a 75.8% jump since last year alone!  Other regions are also seeing prices climb quickly, from Alberta and Vancouver to Toronto double-digit gains in property prices are not at all uncommon.

The recent boom is being driven by the increase in Canada’s population and its ever-growing workforce.  Canada’s natural resources such as oil and wheat are fueling the economy and helping drive the pricing increases as well and the overall upward trend is supported by relatively low interest rates too.

If you’re considering real estate in Canada you’ll find there are a number of draws that this country has to offer expatriates and investors – for example Canada has a strong tourism base which is driven by such destinations as Montreal, Toronto and the Canadian Rockies – but it does also have major extremes in living conditions and environments driven by climate!

In some parts of Canada buyers will find very metropolitan landscapes - major cities like Toronto and London offer a lot of the comforts and familiarities that European buyers are used to whereas the wilder regions, such as those on the west coast, and on the islands along the east, offer pristine views with very low population densities and are popular with people who, when dreaming of living in Canada picture themselves in the great outdoors!

Homes available within Canada run the gamut.  From condominiums in the bigger cities to detached homes and even rambling estates, they can all be found in Canada.  The available market does depend a lot on the region of Canada you’re looking at of course, in some areas new construction is booming and in other areas you’re going to find more resale properties than anything.

Relocating to Canada involves a relatively simple process.  British retirees for example need only go through a few basic steps before they leave their homeland to receive resident status in Canada.  The country has a propensity to look rather favourably on immigrants and even temporary residents which is good news – but do plan to start all the paperwork well in advance of your preferred relocation date just in case you hit on any problems.

The Canadian property market’s upswing is making prices jump really high.  While the real winners are the investors who purchased a few years ago, the costs involved are still more than reasonable by European standards.  If living in Canada or investing in the Canadian real estate market are of interest to you then the time to look is now while the prices are well within reach of most buyers.