Canada, or the Great White North, is a country in North America’s continent. The huge territory extends from the Atlantic to the Pacific ocean. On the north is the Arctic Ocean. It is the second-largest country in the world covering 9.98 million square kilometers. The capital is Ottawa, and the three most significant cities are Toronto, Montreal, and Vancouver. With many different unique real estate investing in Canada. Population: 38 million people.
Before British and French colonization and later decision to settle there, Canada was inhabited by indigenous people, and those circumstances are a guarantee for colorful cultural heritage.
Some parts of Canada are extremely cold, especially the northern part. Summer is short, approximately two months. The majority of all Canadians are settled near the southern border. Whether there is warmer and more comfortable than in the north. The West coast is rainy and temperate. The climate near Toronto is continental. Winters all around Canada are cold and snowy because of the geographical position of the country. Challenging conditions for Real Estate in Canada? Not really, on the contrary. Canada is a land of opportunity, so much fun, and more.
Canada is famous for hockey, the pride, and the joy of every Canadian. Everybody knows about maple syrup, Canada’s amazing landscapes, Northern lights, poutine, and the most recognizable thing of all, the national flag, unofficially known as the Maple Leaf. Showing their hospitality like any proud Canadian would, Real Estate in Canada is a business where those principles are displayed in the same manner. Let’s look into recent history.
From 2003 to 2018, Real Estate in Canada had an increase in home and property prices of up to 337% in some cities. From 2018, home-owning costs exploded in the middle of the housing bubble burst. Canada is considered to be the second-largest housing bubble in 2019 and 2021.
Real Estate in Canada is a gold mine. Canada as a real estate hub definitely continues to be so. From 1981 until 2021, the housing Index in Canada averaged 69.59 points which shows the stability of the market. Things are slightly different in 2021. The index reached an all-time high of 118.50 points in September.
The Canadian Real Estate Association predicts more increase, up to 5.6 percent. The average home price will go as far as $718,000 in 2022. The number of home sales is rising in 2021 ( 656,000 properties traded), but forecasts predict it will fall to 577 000 in 2022. Opportunity is there, and waiting for you to grab it!