Buying Intentions Are Strong Despite Rising Prices of Homes
The weather in December and January was not the only thing that was unseasonably warm! The Toronto real estate market continued its hot pace with the sale of 4,672 residential transactions in January, up 8.2 % over January of 2015. The average price in January was $631,092, up 14.1% over January 2015’s average price of $552,925.
This upward trend will continue in 2016 as a recent polling conducted for TREB by Ipsos suggested that 12 % of GTA households were seriously considering the purchase of a home in 2016. Buying intentions are strong despite rising prices of homes. With low interest rates, home ownership continues to be seen as an affordable long-term investment.
Here are some reasons why Canada is so popular an investment opportunity for so many foreign investors.
|
# Expensive in the world |
City |
Cost of 1300 Apt per sq. Ft |
Monthly Rental Rate of 1300 sq. Ft Apt |
|
# 2 |
London |
$3,227 US Dollars |
$11,089 US Dollars |
|
# 3 |
Hong Kong |
$2,132 US Dollars |
$ 6,431 US Dollars |
|
# 4 |
New York |
$1,728 US Dollars |
$ 7,225 US Dollars |
|
# 6 |
Moscow |
$1,497 US Dollars |
$ 5,158 US Dollars |
|
# 7 |
Singapore |
$1,425 US Dollars |
$ 4,332 US Dollars |
|
# 10 |
Mumbai |
$1,070 US Dollars |
$ 2,540 US Dollars |
|
# 12 |
Tel Aviv |
$950 US Dollars |
$ 2,318 US Dollars |
|
# 15 |
Toronto |
$775 US Dollars |
$ 3,047 US Dollars |
Source: http://www.globalpropertyguide.com/most-expensive-cities#most-expensive-cities
We know the above are “averages”. Prices are dependent on location, condition etc. However this gives you a general idea why so many foreign investors are purchasing in Canada. We are a BARGAIN!
If you or a friend are considering purchasing an investment property, (yes, 2016 is a great time) please give us a call, there are some great opportunities in Toronto!
Phone number: 416-992-7972
Email: info@teamamador.ca
Website: www.teamamador.ca
