Canada Real Estate Market

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  For foreigners buying an apartment in Toronto, what’s the capital gain tax and additional tax I would need to pay?
  foreigner apartment tax canada toronto • • josefin1990  

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  0.5% up to and including the first $55,000 1% of the value which exceeds $55,000 up to and including $250,000 1.5% of the value between $250,000 and $400,000 2% of the value between $400,000 and $2,000,000 2.5% of the value over $2,000,000
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  I am a Canadian but I don’t live in Canada. Would I be subject to be a foreigner when I purchase property in Canada?
  foreigner canada purchase property canadian • • josefin1990  

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  No, you wouldn't.
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  I want to buy a 1 to 2 bedroom apartment in the Greater Toronto Area with a steady income. Which will you suggest?
  apartment canada toronto gta income • • josefin1990  

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  North York, Downtown, or Etobicoke
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  Which downtown area would you suggest looking into to buy my first apartment in Vancouver?
  apartment buy vancouver downtown first • • josefin1990  

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  Yaletown
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  What are the taxes in purchasing and selling Canada real estate for foreigners (especially for an American investing abroad)?
  foreigner tax canada american abroad • • josefin1990  

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  Same as any other non-Canadian
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  Why are the houses in Vancouver (Canada) expensive?
  canada expensive vancouver houses • • andre914  

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  Vancouver has a very unique geography that constrains the availability of develop able land (mountains to the north, water to the west, USA border to the south, farmland to the east). Most North American cities can expand in every cardinal direction to create more houses.
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  Are properties in Toronto and/or Greater Toronto Area too expensive now?
  canada expensive toronto greater toronto • • andre914  

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  Residential is definitely at an all-time high. Commercial properties still offer good yield in comparison.
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  What is it like to live in Vancouver? Where are the up-and-coming areas to invest in real estate?
  vancouver up-and-coming • • andre914  

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  Definitely anything on rapid transit. This includes future expansions including Broadway & Surrey / Langley.
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  As a new immigrant, what do you need to rent an apartment in Toronto, Canada?
  rent apartment canada toronto immigrant • • franklucasking  

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  Background credit and criminal check, first and last month cheque ready, and sometimes even references from employers or former landlords. There are limited spaces for affordable rentals in this expensive town, so be prepared to be interviewed and go up against others vying for the same area. Make sure when applying your look neat and presentable, every bit helps. === It depends on your income, but I can tell it is expensive here. === As a new immigrant, what do you need to rent an apartment in Toronto, Canada? Much money. Toronto’s rentals are costly. Also, you might learn to stop referring to it as “Toronto, Canada.”
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  Are Canadians too practical regarding their homes?
  • janicebeanllc  

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  I don’t know where you are going with this question—please clarify. Interior design you say—OK -if by practical you mean having enough room for bedrooms for your kids, more than one washroom, a living area, kitchen, eating and play areas and a garage for storage and maybe for your car then I guess we’re practical. Why would we want an impractical house, implying discomfort? If you mean homes and gardens type interiors, those can be fine but not practical if you have kids. I sold furniture for a while, and a couple came in with a dog and a one-year-old and asked for an all-white living room with glass tables and a white carpet. I tried to talk them out of it as likely to be destroyed by their dog and child unless they weren’t going to use the room. They went with white and costly furnishings. A year later, they came back to me and bought much darker and cheaper furniture saying they would wait till their children; second on the way by then; were older before going for anything like that again.
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  5 years now in Canada, should I go to school first or buy a house first?
  house canada future school • • sross_the1  

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  The most functional answer will depend on establishing a balance between short-term and long-term needs. Your current income possibilities, and the cost of housing which might interest you must always be taken into consideration to develop functional strategies. If you have adequate money for a down-payment and future mortgage payments to buy a house without stretching your finances past the point of comfort, then go for it. So age and your current realities are undoubtedly critical elements to consider. If, however, I was stuck in a dead-end job, with little possibility for increasing my income in the long-term, then enhancing my employability would become my priority. For example, I earned my undergraduate degree before entering the workforce with a steady job but worked through Christmases and summers to make money for my next semesters. Such assets allowed me to work in a job that I enjoyed while also financing my Master's degree, which facilitated earning enough money to buy my first house comfortably. Fifteen years later, having moved to even more satisfying employment, I earned my Doctorate. So it depends on where you are at your current stage of life, and what your long term plans might be. Short-term pain can facilitate long terms gains if you pardon my sports cliche. Whatever you decide, resisting immediate gratification must always be something to consider. I wish you well whatever you decide.
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  As Global warming is now an accepted concept should savvy real estate investors be buying up property in places like Northern Canada, Alaska and Greenland?
  alaska global warming greenland northern canada • • liu_s_liu8  

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  Savvy real estate investors would be wise to avoid locations that might become more susceptible to the effects of global warmings, such as coastal properties that are not significantly above sea level, properties exposed to forest fire risk or flooding, and areas that might experience more significant water shortages. All the other economic fundamentals that a savvy investor should consider remaining the same. With that said, properties in southern Canada and even a bit north of that have good potential to be more attractive if average temperatures keep rising in the summer. === Not because global warming happens more in the Arctic than in the tropics, more in winter than during the summer. So a 2°C rise in temperature will be 6°C in the Arctic (for example) and 0.2°C at the equator. The numbers are a guess. The warmer the local climate, the less global warming will affect it, according to the theory.
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  Are houses in Mississauga cheaper than Milton?
  house canada milton mississauga • • leonad3dzk  

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  Check with http://realtor.ca for the prices because it’s really weird that few buildings will be more than a million while neighbouring building will be less than half a million. It all depends on the age of the building and maintenance fees every month.
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  How has the COVID-19 impact the Canada real estate market at large, especially in Toronto and Vancouver?
  • nateal_0711  

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  Definitely has. In March & April, there was a distinct lack of transactions happening. All pens left the table. Everyone was trying to understand the implications on their real estate. First off, hats off to the government. In my mind they have had fantastic leadership through this. Federally, provincially and municipally. They really did a great job preserving stability. However, since then things have definitely begun a return to normalcy. There is a general sentiment among everyone here to get back to business. Generally speaking, most real estate has survived unscathed. However, there have been some shakeups.
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  Are you seeing a shift in investors preference in terms of mandate due to COVID-19 and economic impacts?
  • nateal_0711  

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  Yes absolutely. The best know how to pivot. I’d say there are three major trends. There is a greater need than ever before for stability. Multifamily. Grocery. And Industrial continue to prove themselves to be COVID-19 proof. People want deals; but can’t find them. I was one of those people who immediately pivoted my business in COVID-19. Targeted receiverships. Currently working on 3 deals like that. However, the reality is, it’s not the gold rush people were thinking of. Debt is cheap. And I don’t think people realize that. A lot of private players are chasing 20% returns. However, the reality is that there is too much money out there. And some groups have access to it.
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  You’re quite involved with Asian investors, such as from Hong Kong and China. How has demand for Canadian assets fared during 2020?
  • gwyn_dr1  

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  Travel definitely makes doing deals overseas harder. It really benefits those who already have assets or a platform in Canada already. That being said, right now I’m seeing a lot of new groups from the US active in Canada. I recently did an episode titled “Canada Real Estate Outlook 2020 With Robert Veerman” you should check it out if you would like to learn more: https://youtu.be/rUXPvrwy6Do
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  What’s your outlook for the remainder of 2020?
  • dariaishere_c  

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  Thankfully I’ve closed 3 deals so far during COVID. And I am well positioned with a pipeline of product. We are going to see some big deals happen in the next 6 months. A lot of deals are being cut right now. It’s a rare time in which there are no strong market forces yet; and everyone is using this time to strategically sell, buy and reposition their assets. I recently did an episode titled “Canada Real Estate Outlook 2020 With Robert Veerman.” You should check it out if you would like to learn more! https://youtu.be/rUXPvrwy6Do
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  What are some Macro influence you think investors should be aware of in the next few years which will impact the attractiveness of investors investing in Canada?
  • loriloridear  

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  Interests rates will remain low for the foresable future The government needs to collect more taxes somehow; watch out for increases in the capital gains tax rate. This will kill transaction activity and make existing real estate more valuable. Watch for immigration led growth. This is a very easy way for Canada to raise capital I recently did an episode titled “Canada Real Estate Outlook 2020 With Robert Veerman” you should check it out if you would like to learn more: https://youtu.be/rUXPvrwy6Do
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  Can you give me a brief introduction of the Greater Vancouver Area and where overseas investors tend to invest?
  • crys0147auyeung  

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  The Greater Vancouver Area is approx. 3000 sq kms and includes many cities and districts such as Vancouver East, Vancouver West, North Vancouver, West Vancouver, Richmond Burnaby, and the Tri Cities (Coquitlam, Port Coquitlam and Port Moody), etc. Overseas investors tend to focus on the City of Vancouver (and parts of Richmond + Burnaby) since this area is most densely populated and offers the best amenities. For example Richmond has a large Chinese culture and presence. Downtown Vancouver is the main city center and central business district of Metro Vancouver (we can go into the different neighbourhoods within Downtown if you like). Find more: https://youtu.be/MsgcS6XmJLw
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  The Vancouver real estate market has become a very hot topic among a few circles I am in. What is the reason behind this trend and how do you think it will evolve in the coming years?
  • fox_5_5q  

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  The Vancouver real estate market has always been attractive to overseas investors because of our diverse culture and natural surroundings. Also real estate prices are fairly stable compared to other parts of Canada where there is less density and population. This creates an attractive package for investors and immigrants to the city currently and in the coming years. (we can elaborate on this during our chat). Find more: https://youtu.be/MsgcS6XmJLw