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Condomania market CanadaForbes magazine rankedCanadaas the best place on the planet to do business. TheU.S.came in 10th. As the economic hub of the country, responsible for fully 20 per cent of its GDP,Torontobenefits greatly from such global attention.

 “Canadais seen as a safe haven for foreign investment, especially for middle eastern and Asians,” said Navtaj Chandhoke, founder of World Wealth Builders, a Canadian Real Estate investors training centre. “The appreciation and rental demand also got the attention of Canadian & international Real Estate investors.”

“The average home price inCanadahas increased by 160% since 1990, mortgage interest rates have decreased by 60%.As a result, over the past decade, the average mortgage payment has increased by approximately 25%,“ said Navtaj Chandhoke.

The attraction for investors is simple math: with a market that in recent years has appreciated 8 to 9 percent annually, even the smallest units are an attractive investment. Bought “pre-construction,” condos are worth considerably more by the time they’re built. It’s estimated that fully 60 percent of the units sold in theToronto market are snapped up by international investors, many fromChina andSouth Asia.

There were132 high-rises under construction inTorontoin September 2011 with another 120 projects in phases of “preconstruction”. That is far more than the next most-active centers, Mexico Citywith 88 on the way andNew York Citywith 86.

The city is also a major immigration destination. An estimated 100,000 new residents move into the greaterTorontoarea each year. The growth rate is closer to that of cities in Asia than any in North America. Immigration rules favor migrants with assets. This means that many jump quickly into a housing market that, despite rising prices, is still a bargain by international standards.

Bank ofCanadaGovernor Mark Carney warned earlier this year that too much inventory could lead to “the possibility of an overshoot in the condo market” inToronto. Canadian Real Estate analysts have been predicting for years the end of theTorontoboom, and so far they’ve been wrong.

Your success is our Passion!

Navtaj Chandhoke

Navtaj Chandhoke is a veteran Canadian Real Estate investor, Master Coach/Mentor/Speaker
& Canadian hard money lender . Join now
Canadian REI Club membership
to attend upcoming
No $$ Down Canadian Real Estate Seminar LIVE
in Canada and become next

Canadian Real Estate Apprentice

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