forma condo location.More than 20% of houses in Canada are bought by new immi...

forma condo location.More than 20% of houses in Canada are bought by new immigrants.New residents account for 1/5 of all home buyers in Canada, according to a new data report released by the Royal website.Please Visit: forma condo location to Get Your VVIP Registration Today!

Royal Lepage defines new residents as residents who have lived in Canada for less than 10 years, including immigrants, students, refugees and citizens from other countries. According to the report, 31 per cent of new residents are with their families, 25 per cent are students and 20 per cent are living alone.

According to the survey report titled “Royal Lepage newcomer 2019” released by Royal Lepage, new residents will buy a house in about three years after coming to Canada. Among them, 75% of the new residents will use personal savings or cash to pay for the expenses required for house purchase, and 86% think that real estate is a good investment.

The survey interviewed about 1500 new residents who came to Canada in the past 10 years.

Phil Soper, President and CEO of Royal Lepage, said that new residents accounted for about 21% of all home buyers in Canada. Soper said that this figure shows that new residents have a “significant” contribution to real estate demand.

Soper said, “it is well known that Canada is a country of immigration, and new residents in Canada are also an important part of economic growth. This data proves the importance of new residents to the Canadian real estate market.”

Royal Lepage estimates that if the current level of international migration remains unchanged, new residents are expected to buy 680000 houses in Canada in the next five years. According to Statistics Canada (statsca), international migration accounted for 80.5% of Canada’s population growth in 2018.

Soper said that there are two or three million new residents in Canada, and the total population of Canada is about 37million. He pointed out that about 300000 people come to Canada as immigrants every year.

And the number of new residents will continue to increase. In November last year, Ahmed hussen, Minister of immigration of Canada, announced that 1million new immigrants would be added in the next three years; Moreover, from 2021, the annual number of immigrants in Canada will increase by another 40000, that is, 350000, almost equivalent to 1% of the total population of Canada.

Soper said it was surprising that so many new residents came to Canada and wanted to own their own houses. According to different regions, almost all new residents can provide the necessary funds to buy a house.

However, the proportion of new residents holding real estate is not very high. The survey shows that about 32% of new residents in Canada own houses, while 68% of all Canadians own their own houses.

The survey shows that among the new immigrants who bought houses, 51% bought independent houses, 18% bought apartments, 15% bought urban houses and 13% bought double apartments.

Soper said that within Canada, the Greater Toronto area, the low land plain of BC Province and Montreal are the three main residential areas that new residents generally choose.

According to the report, BC Province is the third most popular destination for international immigrants in Canada. The housing ownership rate of new immigrants living in the Da Wen area is 32%, which is similar to the average level of BC Province and the country.

Randy Ryalls, general manager of Royal Lepage Sterling realty, said: “Dawen is one of the most ideal places to live in the world, which is enough to make new immigrants optimistic about the city’s lifestyle and employment needs.”

In BC Province, 72% of new immigrants choose to rent their first house, 9% buy a house, and 13% live with family or friends after arriving in Canada.

Raylls said that new residents are promoting the demand for various types of housing. New residents with families are trying to find a community suitable for families, while those who come to Canada alone prefer to choose apartments because of their more convenient geographical location, more affordable prices and lower maintenance costs.

At the same time, new residents in BC Province are full of confidence in the real estate market, because 85% of respondents in BC Province believe that buying a house is a good way of financial investment.

In BC Province, 86% of new residents choose to stay in their first city or residence. At present, new residents account for 15% of all home buyers in the province. According to the current rate of international migration, new residents are expected to buy 91000 sets of housing in the next five years.

To buy 91000 houses, according to the latest data released by BC provincial real estate association on Tuesday, as of September this year, there were only 39000 listed houses in BC Province.

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