Real Estate's Directory

Canada is the most favourable country in the world. This has been stated in the United Nations annual reports since 1994. You can find fresh air, clean water and healthy environment conducive to healthy lifestyle from coast to coast. Real Estate in Canada is a very attractive area of investment at the moment. Greater Toronto Area is especially interesting area as it is the most promising in terms of invested funds return.

Canadian laws allow buying land and housing for both residents and citizens of other states on equal footing, with a few exceptions related to recreational areas. But foreign citizens, if they do not have a proof that they will soon move to Canada, do not have the possibility of obtaining a preferential bank loans for the purchase of housing. This is due to the fact that Canadian bank cannot control or somehow affect the people in other countries. In principle, it is possible to obtain a loan for housing purchase in some financial institutions specializing in real estate transactions. But as a rule, the loan percentage is rather high in such organizations.

It should be noted that the share of property acquired by foreigners in Canada, including residents of Russia, is quite large. Basically real estate is acquired as a safe investment and then the housing is leased in order to direct rent payments on loans repayment and home maintenance costs coverage.

Another factor that makes investments in Toronto real estate market attractive is the continuous increase of prices. In particular, the average prices on the market have recently grown by 11%. If we talk about a similar situation in North America, it is one of the highest indicators. In addition, the cost per square meter in Toronto compared to other similar cities of the world is much lower and almost all experts say that this situation will soon change. It should be noted that Toronto is one of the world’s leading financial centres with attractive climate for business and one of the fastest growing cities in North America. Therefore, the opinion of experts about the costs rising is well-grounded.

Very often, we face with the opinion that buying real estate is advantageous for immigration and entry visa. In fact it is not. Buying property can be considered as a good investment, but not as a tool to facilitate the entry into Canada, as it gives no advantage for immigration.

Buying and selling real estate transactions on Canadian market are carried out with the help of licensed agents. This does not mean that you cannot make a real estate transaction without the involvement of an agent, but the likelihood that you can do without an agent is very small. Seller uses the services of an agent, because it is extremely difficult to sell the property without professional help. The seller pays the agent a commission – about 5% of total deal. If the buyer attracts an agent, he pays nothing to him: in this case, the agent gets his commission from the agent representing the seller. Since when buying a property, you do not pay your agent, then it makes no sense for you to deal with all the issues on your own. Thanks to agent’s knowledge, experience and rapid access to a database of property for sale, he can help you choose the most suitable option.

The research is carried out by Corey Allen for www.prepareforcanada.com about Canadian housing market trends and prospects.