2024

1. Increased Housing Demand Population Growth: Immigration is a primary driver of Canada’s population growth. With higher immigration levels, the demand for housing—whether rental or ownership—rises significantly. More people require places to live, leading to an increase in housing demand. Urban Concentration: Immigrants tend to settle in major metropolitan areas like Toronto, Vancouver, and...

1. Government Measures: Foreign Buyer Taxes: In recent years, several provinces, including British Columbia (BC) and Ontario, have introduced taxes aimed at reducing foreign investment in real estate. For example, BC has implemented the Foreign Buyers Tax, which levies a higher property transfer tax on properties purchased by non-residents of Canada. Ontario also introduced a similar measure,...

The Canadian housing market has seen its fair share of twists and turns over the past few years. As we head into the final quarter of 2024, potential homebuyers are faced with new challenges and opportunities. Whether you’re a first-time buyer or looking to upgrade, it’s essential to stay informed about the latest trends and factors shaping the housing landscape. Here’s what you need to know...

In a significant move, the Bank of Canada has reduced its benchmark interest rate by 25 basis points to 4.5%. This decision, signals the start of an easing cycle, making the Bank of Canada the first major central bank to lower rates amidst the current global economic conditions. The reduction comes after a period of aggressive rate hikes aimed at curbing high inflation. The Bank of Canada had raised...

Buying a pre-construction home in Canada offers several benefits for homebuyers. Here are some of the advantages: Customization: One of the primary benefits of buying pre-construction is the ability to customize your home according to your preferences. You can often choose finishes, fixtures, and layouts to suit your taste, resulting in a personalized living space. New Home Warranty: In Canada,...