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The housing market in Canada has a variety of opportunities for investment. Canada has been a place to emigrate for British families for a long time. Although culturally quite similar to the USA, there are major differences which are more like Europe - less crime and more welfare state support and healthcare. The country is bilingual as well of course, so it's a good idea to brush up on your French - and especially so in Quebec.
Toronto, Montreal and Vancouver are the cities that draw in most foreign visitors. The huge open spaces and unspoilt countryside are very hard to beat - anywhere in the world. As in the USA the real estate business is highly competitive.
The top 30 Canadian cities with populations: 1 Toronto Ontario 4,263,000 2 Montréal Quebec 3.327.000 3 Vancouver British Columbia 1,832,000 4 Ottawa Ontario 1,010,000 5 Edmonton Alberta 863.000 6 Calgary Alberta 822,000 7 Quebéc Quebec 672,000 8 Winnipeg Manitoba 667,000 9 Hamilton Ontario 624,000 10 London Ontario 399,000 11 Kitchener Ontario 383,000 12 St Catharines-Niagara Ontario 372,000 13 Halifax Nova Scotia 333,000 14 Victoria British Columbia 304,000 15 Windsor Ontario 279,000 16 Oshawa Ontario 269,000 17 Saskatoon Saskatchewan 219,000 18 Regina Saskatchewan 194,000 19 St John's Newfoundland 174,000 20 Sudbury Ontario 160,000 21 Chicoutimi Quebec 160,000 22 Sherbrooke Quebec 147,000 23 Kingston Ontario 143,000 24 Trois-Rivières Quebec 140,000 25 Kelowna British Columbia 137,000 26 Abbotsford British Columbia 136,000 27 Saint John New Brunswick 126,000 28 Thunder Bay Ontario 126,000 29 Barrie Ontario 119,000 30 Sydney Nova Scotia 118,000 [source: CityMayors.com]
Ask a ProfessionalThere are investment prospects in Canada, but it is essential that you seek independent expert professional advice before undertaking any property purchase. There are lots of things to bear in mind, including local laws and regulations, taxes, surveyor's assessments of the building, financial currency exchange, dealing with interbank transfers, volatility of the housing market, etc. etc. Any property purchase is a major undertaking. It may seem obvious but it's well worth going on holiday to a country several times to see if you like it.
Surge in InterestThe interest in purchasing property abroad has increased at an amazing rate in the past five years, fuelled in the UK by a booming domestic housing market making overseas properties seem good value for money. Also, TV programmes like Channel 4's `A Place in the Sun' have made everyone realise that owning a property abroad is no longer just for the rich and famous. People are interested in purchasing a home overseas for a variety of reasons - enjoyment, investment, buy-to-let, a new life, retirement, and more.All links and text on this site have been provided for information purposes - they are not recommendations. |