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Canadian Real Estate - An ever popular destination of choice The Canadian housing market as predicted recovered faster than most westernised mature markets with the average resale price of residential properties sold through the Multiple Listing Service® having risen by 11.3% to CA$324,779 (US$303,614), according to the Canadian Real Estate Association (CREA). 2008, resale house prices dropped by 0.7% 2006 and 2007 prices rose by an annual average of 11%. 2010 onwards - full recovery of the housing market is expected Canadian economy is projected to grow by about 3%. Note: There are virtually no restrictions on foreigners buying properties in Canada. Property in Canada saw growth of around 10% per annum between 2002 and 2007 and the property market in Canada has been reasonably well protected from the tubulence created by the international credit crisis mainly due to the fact that Canada has not been substantially overvalued as other markets in part due to very little speculative buying by investors for a quick profit. Due to lower level of household debt in Canada - the Canadian homeowner was able to remain in their homes and continue to pay their mortgages. The Canadian Banking system, now seen as one of the most strong worldwide also had smaller exposure to bad debt levels and therefore was able to maintain a healthier economic platform for business to continue – all good news for investors in Canada. Canada's Property Market Outlook
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