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Investing In Property In Canada

Investing In Property In Canada
Tem Pearson:Canada has long been recognised as a cheap yet secure country in which to buy property.

Although Canada is often overlooked as a suitable location for investment purposes, those looking for an investment away from the usual European options should certainly delve deeper into what this beautiful country has to offer.

Canada offers a unique blend of cultures which incorporate a bit of British, North American and even French influences which appeals to many investors and holidaymakers alike. Due to the vast expanses of land that Canada boasts, house prices are incredibly variable, starting at a very reasonable £45,000/US$85,000.

Weather in Canada is certainly not as warm as some of the Californian areas but it more than makes up for it with glorious winters perfect for ski fanatics!

With such a sprawling country it is not surprising that there is a wide variety of property opportunities including lakeside rural properties and downtown apartments in some of the largest and most cosmopolitan cities in the world.

Prices are substantially higher in the cities where job prospects and affluence are generally much greater. In some of the larger cities such as Toronto and Montreal, a two bedroom property can cost as much as £200,000/US$390,000.

On top of the higher purchase price, there are also high maintenance fees that have to be taken into account. Despite these added costs, it is still worth considering investing in city properties in Canada.

Vancouver, in particular, is recognised as a beautiful location and is regularly voted the best city in the world for quality of life, with a wonderful mix of ski resorts, national parks and even the world’s most photographed lake, Lake Louise.

The Canadian real estate property market is extremely well established and is often seen as a great way to diversify a portfolio with a long-term low risk investment. Generally, Canadian property is considered to be a long-term investment, although it is possible to make gains quickly, depending on the position of the property cycle.

As with many of the more developed property markets, one of the best ways to make a short- term profit is to anticipate where the next geographical boom area is likely to be.

Some investors make a point of purchasing off-plan properties in developing areas and then selling them on as soon as the properties are completed. By flipping properties in that way, it is possible to make annual gains of over 20 percent in some of the faster growing regions.

One of the main driving forces of the Canadian market is actually the number of wealthy ex-pats who are moving to take up employment opportunities as part of the skilled workers’ programme or moving to Canada to enjoy their retirement.

In total, 3.3 million British citizens have already moved to Canada, permanently. These people bring a considerable amount of wealth to the property market and tracking the regions that are popular with this group of individuals will assist in ensuring that you achieve maximum returns.

Article Source: http://www.articlesnatch.com

About the Author:
Providing essential information on buying property abroad, Tem Pearson is dedicated to offering all the necessary information for people looking to buy property in different countries. Visit www.buying-property-abroad.info for all the best info.