Canada has a vast land area covering up to almost 10m million square kilometres, considered as the second largest country in the world. Canadian government invites and encourages migrant workers and residents from other countries to fill up jobs and occupy uncovered areas in the country. This is in response to the rising economic status of the country.
Canada’s Federal Economic immigration platform has been recruiting a number of migrant skilled workers to accommodate demand for workers on Canada’s local job vacancy and manpower needs either as temporary workers or permanent residents. The country is also trying to attract foreign investors as an additional government funds and government profit opportunities.
Check out reasons why you need to invest and purchase real estate as soon as possible. There are a lot of positive and optimistic expectations this year, 2018.
There are 7 things that Canadian residents should count on in investing in land, property, house and real estate this year.
#1 Growing Population
As the Canadian government allow express entry for foreign skilled workers to augment job vacancies for different industries, the number of population in the country proportionately grows as well. Demand for housing is growing rapidly.
| 2006 | 2011 | 2016 | 2006 to 2016 | |
|---|---|---|---|---|
| number | % change | |||
| Canada | 31,612,897 | 33,476,688 | 35,151,728 | 11.2 |
| Newfoundland and Labrador | 505,469 | 514,536 | 519,716 | 2.8 |
| Prince Edward Island | 135,851 | 140,204 | 142,907 | 5.2 |
| Nova Scotia | 913,462 | 921,727 | 923,598 | 1.1 |
| New Brunswick | 729,997 | 751,171 | 747,101 | 2.3 |
| Quebec | 7,546,131 | 7,903,001 | 8,164,361 | 8.2 |
| Ontario | 12,160,282 | 12,851,821 | 13,448,494 | 10.6 |
| Manitoba | 1,148,401 | 1,208,268 | 1,278,365 | 11.3 |
| Saskatchewan | 968,157 | 1,033,381 | 1,098,352 | 13.4 |
| Alberta | 3,290,350 | 3,645,257 | 4,067,175 | 23.6 |
| British Columbia | 4,113,487 | 4,400,057 | 4,648,055 | 13.0 |
| Yukon | 30,372 | 33,897 | 35,874 | 18.1 |
| Northwest Territories | 41,464 | 41,462 | 41,786 | 0.8 |
| Nunavut | 29,474 | 31,906 | 35,944 | 22.0 |
| Source: Statistics Canada, 2016, 2011 and 2006 Censuses of Population. | ||||
#2 Value of Housing, Land and Property Estate May Drastically Increase in the Coming Years
Every year the land and real estate appraisal increases by months or by years. It is inevitable market pricing for all commodity and realty. Purchase and invest in property and housing estate as earliest as possible this year to skip paying an increased value on real estates. Even after retirement, your house and land’s price increases. It never stops increasing day by day.
#3 Interests Rates Are Expected to Increase
Due to demand for housing and land development in the past years (and is expected to continue this year), real estate loan interests are expected to increase. In line with the increase on the value of land, property and housing prices, as well.
Canadian banks are expected to increase their rate target up to 1.25% interest rate (and will possible surge more) from the start of this year, 2018. So, it is wise to invest as early as possible.
#4 Diversity of Permanent Residence in Canada
Since the new Federal Immigration project has been implementing, competition with owning a land or a house per family has been a race. Cities like Toronto, Montréal, Vancouver, and Ottawa have been now occupied pretty much by a lot of working migrants and their families. The diversity of residents and the surge in population limits the chances of getting the best area around town or cities, because you get to compete with the purchasing of the real estate of your choice.
Purchase a piece of land or a house now, or let just have what area remains. It has now been a race to who will get the best location and best house to purchase.
#5 Expectation on Real Estate Long Term Trend Increase
Definitely, a real estate and properties price increases, every year. With the promising business opportunities and job vacancies in whole Canada including those from other far flung regions, expectations in competitive economy, country’s increased GDP rate and job vacancies can ploy buying and sales capacity; thus inducing increase in prices and higher interest rates, depending on location and economic progress of the area.
#6 House, Land and Property Ownership can be used as Leverage
Bank loans, purchasing another property, authentication of documents, and legal certification often requires land and housing ownership. Investing in real estate can open great deal of opportunities for you and your family. It is an asset you can use to gain another asset, property or gain connections, and work / business chances.
#7 Real Estates is a Good Legacy
The house and lot you purchased now can surely gain profit in the coming years, despite of the property tax, renovation and maintenance costs; Can be passed on to your children, or your children’s children. Do not wait till the whole Canada is crowded and there are no left space for you to purchase.