According to 2016 census data, Canada’s population hovers around 35 million people, with two-thirds of the growth between 2001 and 2016 attributed to immigration. A growing population will also have a positive effect on housing activity and prices. The rental market is already experiencing multiple offers and bidding bars, and inventory is low. It’s expected that the rental market will heat up even more, because most new immigrants rent before they buy and this can mean great news for real estate investors.
There’s a very good reason that Canada is in the spotlight on the world stage. Immigrants are attracted to Canada for its bustling economy, high standard of living and affordability – yes, that’s right, affordability. When compared to other world-class destinations like Hong Kong, London, Paris, New York, L.A. and others, and despite Toronto’s affordability woes, the city is still competitively priced!)