The real estate investment process in Canada is witnessing a big boom today in the world, and because real estate investment may be one of the doors that can bring you to Canada, make you closer to it, and facilitate the process of approving the immigration application.
We know that the subject of real estate investment in Canada is something that may interest you and the interest of many investors and businessmen in the world, so we will try to get to know him with you now.
How to start real estate investment in Canada
To start with, you must know that it is not easy, and it may be a little complicated, as the costs of buying a home in Canada are not small, especially in recent years, and with the rise in real estate prices.
For foreigners, there are real estate taxes that they must pay when they own homes or real estate in Canada.
As for the costs of buying a property in Canada, it varies depending on your choice of particular to the region in which you want to invest.
What we will try to provide today is a set of information that non-Canadian foreigners need about the real estate investment process in Canada.
A group of Canadian banks offer standard mortgage programs, a program package to assist new investors.
But first you have to hire a professional real estate accountant to support you in the real estate investment process in Canada, as it will help you a lot, give you advice, and also calculate the value of the tax deductions available to you, which are discounts on
- Insurance fees.
- Legal fees.
- Property taxes.
- Land transfer fees.
And others, as this real estate accountant will provide you
Your tax returns are legal and more professional, and can relieve you of many legal problems that you may face as a result of your lack of good knowledge of Canadian real estate law.
House prices in some cities of Canada
There are some Canadian cities that have witnessed a rise in real estate prices during the past year 2018, and these cities
- The city of Victoria, which last year achieved the largest percentage of annual increases, as its real estate prices increased by 5.95%.
- The city of Ottawa, which achieved an annual increase of 5.87% in real estate prices in 2018.
- The city of Hamilton, has achieved an annual increase of 4.4% in real estate prices in 2018.
Also, the rise in real estate prices affected both cities; Montreal, Toronto, Vancouver and others, to varying degrees.
While there are other cities that have achieved a decline in real estate prices, such as:
- The city of Calgary, which achieved a decrease in house prices and real estate by up to -2.64%.
- Edmonton city, which achieved a real estate price decrease of 1.87% from its normal price for 2018.
- Winnipeg, has achieved a 0.49% decrease in its property prices from 2018.
Also, other cities have witnessed a wave of decreases in real estate prices, such as the city of Quebec and Halifax, with slight decreases, but they are influential to a large extent in the real estate investment field in Canada.
This matter shows that the real estate investment market in Canada is a rich and highly mobile market, and it needs to benefit from studying before investing in it, but it is also an excellent market, and one of the largest real estate markets in the world.
In the end, the real estate investment process in Canada remains a process that needs more topics that we will work to present to your nursery through our website, so follow us well.