Canada has a high standard of living, and housing prices are more affordable than in America or European countries. However, according to the data for 2020, each year the cost of housing on average grows by 11%. The country is attractive for foreign investment in real estate. Earnings on real estate in Canada Canadian laws do not restrict foreigners in acquiring housing. The exception is recreational areas. Buying a property is profitable if the buyer decides to sell it after a few years. It is worth remembering only the difference in resale, which is taxed. Another popular way to make money on real estate in Canada is to buy low-cost housing in order to rent it out. This does not even require a trip to the country. A non-resident needs to issue a power of attorney in the name of a person who lives in this country. He will represent interests.
According to the Housing Corporation of Canada, the average cost of housing in the country is $ 940 per month. Property rental is also popular due to the large influx of immigrants. According to the immigration plan, the Canadian government for 2019-2021 will constantly increase quotas for foreigners. In 2020 alone, about 330,000 thousand people will receive a residence permit. Types of housing Condo – an inexpensive apartment in a multi-storey building. Its area usually reaches 80-130 m² (700-1200SF). The condo includes a living room, 1 to 3 bedrooms, a kitchen, 1-2 bathrooms. Communications and the surrounding area are considered the collective property of all residents.
Townhouse. A type of house that includes 3-4 buildings. Semi-detached house Private property with a personal plot that belongs to two owners. Private housing. Such houses are mainly built in the suburbs. Its area is an average of 350 m².
Duplex. Each owner has his own floor. Common to all the owners are the adjacent plot and garage.
Prices are shown on the websites of foreign real estate rew.ca, realtor.ca, antoninabc.com.
More Vancouver and suburbs. The house will cost 1,500,000 CAD, and the apartment is about CAD 500,000. Features of the purchase of real estate Law firms are involved in all real estate transactions. Transactions of the seller and the buyer are protected by the laws of the country, so the risk of becoming a victim of fraud is minimized. Additional costs include: Payment of a law firm. Insurance. Monthly and utility bills. The transaction is carried out by bank transfer. For the implementation, special trust accounts are used, to which a deposit is paid only for the sale of real estate. The owner will receive the money after re-issuing documents to the buyer. The price of real estate in Canada is affected by the number of rooms, the size of the living space, and the location. In the country, housing is purchased not only for life, but also for subsequent resale or rental. Buying housing in Canada is more profitable than America and Europe, therefore Canada is considered an attractive country for acquiring real estate.