Property in Canada

Property in Canada

Property in Canada is according to the deputy manager of the Bank of Canada in a favourable position, the economy broadly speaking is looking good to. In Canada property investment is largely concentrated along a wide strip close to the US border.

There are of course opportunities elsewhere in the holiday home market in the north of the country. It is easier and safer to concentrate your efforts in the population belt if you want to see good returns on your investment. The strip I mentioned earlier is about one hundred miles wide and is easily the biggest growth area in terms of property in Canada, there are of course opportunities in both the domestic and industrial sectors. Most of the major cities in Canada have not been overdeveloped which still allows room for wise investment.

The tourism industry remains buoyant in Canada ensuring that there is Buy to let potential throughout most of residential Canada. Supply and demand as ever fuels prices and therefore an overseas investor may want to look at the more rural areas of Canada where property prices have not gone so high. Also for the typical holiday retreat the rural areas are often more suitable.

Holiday property is being snapped up for two different reasons one set of people are buying just for their own use and others are taking a purely investment approach taking good holiday returns while appreciating in value at the same time.

Property in Canada

If you are hoping to get a mortgage in Canada you should be aware that the rules are stringent, they check histories carefully and require large deposits sometimes as much as 35% is required. A twenty five year period is normal and the sum should be paid before retirement age or in exceptional circumstances by the age of seventy.

In Canada surety will not be accepted on property outside of Canada in other words if you have property in another country and want to use the collateral on that property to fund the purchase of a property in Canada you will not be permitted to do so.

All things being equal Canada is a fantastic place to live and a wonderful place to visit it is vast and offers winter sports and summer vacations alike.