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Buying Property in Canada
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The Canadian property market is very different to your stereotypical European market, although on further investigation it seems to be a lot simpler. Generally houses are more spacious with basements the norm - which can often double the floor space of your property. Not generally seen as a first port of call for relocating your life, Canada really does have a lot to offer Expats wanting to live in Canada . Beautiful and varied landscapes, together with a totally different way of life to many European countries, are some of the main attractions to foreign nationals. The economy is heavily dependent on natural resources such as oil, gas and minerals and while obviously tied in the main to commodity prices, the economy has performed very well of late. Contents: Real Estate Market Performance in Canada | Immigration in Canada | Mortgages inCanada | Real Estate Costs in Canada Real Estate Market Performance in CanadaThere have been a number of reports of late which have highlighted the great potential for future growth in the Canadian housing market, with some experts suggesting that house prices could double over the next 20 years. This generous assumption is actually based upon a number of factual issues which are happening within Canada, including :- Immigration in CanadaCanada is starting to see a growing interest in immigration with 2/3rds of the rise in the population since 2001 due to immigration - a trend which many see continuing. This will in itself create a need for new housing, thereby feeding the economy, taxes, inward investment, etc - which will then attract more immigrants. The Canadian Mortgage MarketThe Canadian mortgage market is yet to develop in line with many of the developed world, with such mortgage types as interest only, etc only just becoming available to the masses. It is forecast that the increased flexibility of the situation will result in more of the population buying their homes outright. Real Estate Costs in CanadaThe Canadian property market makes use of Realtor’s which are basically Property Agents who will help you find your dream property, arrange viewings and follow the process through from offer to final agreement. Unlike the UK and other countries, the seller will normally pick up the fee for the Realtor, on a commission only basis, if they cannot find you a house they will not get paid.
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