Canada real estate – The growing industry

The Canada real estate market presents a wide and untapped opportunity to the prospective investor both for the short terms as well as the long term. The market is still not saturated and is growing at a healthy rate which is in sharp contrast to the US market. This has been fueled by the performing economy and a presence of a sizable immigrant population that is actively saving and investing to build up their real estate portfolios. Canada offers its inhabitants nice comfortable homes along with a stable employment and an admirable standard of living.

Canadian property prices have climbed up gradually since the economic and financial crisis ended, even though the U.S. real estate prices had resumed their decline. The Canadian real estate market has made a quicker economic recovery than its US counterpart helped by a sounder banking industry combined with low interest rates and increased buyer confidence.

The Canada real estate market offers a number of entry points catering to a wide range of budgets ranging from the small apartments to the large farms and ranches including properties with their own water bodies.

The presence of Oil sands in Alberta and the increased commercial exploration activity has resulted in boom in property prices. Edmonton being the capital of Alberta has benefited immensely from the increased investor boom and new inhabitants. Even though prices have increased, they are within manageable and affordable levels compared to the national market.
The market is driven by the end buyer and not by speculation so the price spike has not been too sharp unlike in other regions like Vancouver where the boom cycle has been fueled by intense speculation. This makes the current scenario interesting and enticing for the end home buyer who wants to own their first home or upgrade or buy an extra property for rental income.

According to RBC Economics Research, Edmonton remains the most affordable city in Canada. The affordability measure is rated at 31.5 %. That means only 31.5% of the monthly income is required to afford an average separate bungalow in Edmonton. This includes taxes, utilities and mortgage payments.