Ranked as one of the safest countries in the world, Canada’s elements of multiculturalism, reliable healthcare system, and strong economy make it a popular destination for many immigrants who are thinking of relocating. More than that, this also makes Canada a considerable choice for investors alike to purchase properties in the area.
There are no specific citizenship or residency requirements for owning and buying property in Canada. You can opt to situate in a Canadian residence temporarily; however, you will have to comply with the necessary immigration requirements for either a permanent residency or an extended stay. For this, it’s best if you find a Canadian immigration specialist to help walk you through the entire process and make the entire thing convenient for you.
Even so, it can be challenging for an immigrant to decide whether or not it’s worthwhile to pursue such investment, especially if you’re fairly new to the area.
For this reason, the article will list five reasons why investing in real estate in Canada is a good choice for you to make. Furthermore, it will also cover some essential things to keep in mind if you decide to follow through with this venture.
- Safety and Security
Canada is reputable for being one of the safest countries across the globe. Such a fact is backed by the Global Peace Index, ranking Canada as one of the most secure places for people to live in, with the place almost being synonymous with peaceful living. This is mostly accounted for by its low rates of gun ownership alongside low crime rates — particularly violent crimes, as compared to the United States. Its political stability is also a good reason why the place is generally safe for everyone, making it a realistic option for many to opt for permanent residency.
- Accessible and Attractive Prices
Montreal is one of the cities in Canada that has accessible prices per square meter. Compared to Paris, where the price per square meter goes up to at least 10,000 euros, Canada prices range between 2,000 to 3,000 euros, depending on the sector of real estate.
Furthermore, Canada also prides itself on a free and transparent market. As an investor, all the information and data you will need to make an investment and income in its real estate sector is accessible and available. It also offers favorable options for foreign investors. When you decide to invest or own real estate, you should know that the law does not mandate any special obligations. You’re merely subject to similar obligations as Canadian landlords, which means you don’t have to spend your time navigating through complex and tricky laws. One of these obligations is to ensure that you maintain the value of your property; as a landlord, you won’t want your real estate to fall into housing disrepair which could only cause potential problems in the future.
- Healthcare is a top priority
Investing in real properties in Canada grants you access to the country’s exceptional healthcare system — one which is highly lauded in all parts of the globe due to its accessibility and fairness when rendering services to patients.
Here, treatment is often free since it’s primarily funded through taxes, with each province being provided an ample budget to utilize locally. Those who are permanent residents of Canada have unbridled access to its healthcare, ensuring the well-being and health of you and your loved ones.
- High Demand for Rental Real Estate
Montreal is among Canada’s main immigration centers, which naturally has caused the spike in statistics due to the constant demand for rentals. With a broad range of higher education institutions and universities, Canada is also a country where students’ demands for rental accommodations are increasingly growing.
Because of this reason, Canada makes for a very appealing option for real estate investments because of its growth potential and economic stability. Apart from a favorable tax system, its real estate sector is also thriving, making rental management more convenient on your end.
- Diversified investments
One of the keys to success in the real estate industry is diversifying your investment. Diversified investments guarantee a net return in case of a potential drop in prices of one or more real estate locations. This is the reason why most investors are usually recommended to think of geo-diversifying their real property ownership through the means of leverage.
Leveraging can be a useful source of income, allowing investors to create exponential returns on investments by taking on extra debt. It is a reasonable alternative for real estate developers who aim to create investments and build their legacies along the way.
Investing in real property in Canada enables you access to an advantageous tax system and great leverage effect. This gives you more room to invest more with refinancing — a process where you replace an existing mortgage with a brand new loan.
