Steven Maislin Broker

Steven Maislin Broker

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Condominium Guide

 

 

February 2016.

Dear Friend,

The weather in December and January was not the only thing that was unseasonably warm! The Toronto real estate market continued its hot pace with the sale of 4,672 residential transactions in January, up 8.2 % over January of 2015. The average price in January was $631,092, up 14.1% over January 2015’s average price of $552,925.

This upward trend will continue in 2016 as a recent polling conducted for TREB by Ipsos suggested that 12 % of GTA households were seriously considering the purchase of a home in 2016. Buying intentions are strong despite rising prices of homes. With low interest rates, home ownership continues to be seen as an affordable long-term investment.

Here are some reasons why Canada is so popular an investment opportunity for so many foreign investors.

 

# Expensive in the world

City

Cost of  1300 Apt

per sq. Ft

Monthly Rental Rate of 1300 sq. Ft Apt

 #  2

London

$3,227  US Dollars

$11,089    US Dollars

#  3

Hong Kong

$2,132   US Dollars

$ 6,431     US Dollars 

#  4

New York

$1,728   US Dollars

$ 7,225     US Dollars

#  6

Moscow

$1,497   US Dollars

$ 5,158     US Dollars

#  7

Singapore

$1,425   US Dollars

$ 4,332     US Dollars

# 10

Mumbai

$1,070   US Dollars

$ 2,540     US Dollars

# 12

Tel Aviv

$950      US Dollars

$ 2,318     US Dollars

# 15

Toronto

$775      US Dollars

$ 3,047     US Dollars

http://www.globalpropertyguide.com/most-expensive-cities#most-expensive-cities

I know the above are “averages”. Prices are dependent on location, condition etc. However this gives you a general idea why so many foreign investors are purchasing in Canada. We are a BARGAIN!

 If you or a friend are considering purchasing an investment property, (yes, 2016 is a great time) please give me a call, there are some great opportunities in Toronto!

Have a great February,

Your Friend in Real Estate.

Steven Maislin, R.E.B.B., I.R.E.S.

Broker
Direct: 416-410-6000
1-800-567-LIST (5478)
Text/Cell: 416-518-7701
Office: 416-782-8882
Twitter: @stevenmaislin

 

 

 
RE/MAX Realtron Realty Inc., Brokerage
2815 Bathurst St., Toronto, ON M6B 3A4, Canada

 

 

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