Investing in real estate is a worthy pursuit that can appreciate over time. Many investors are turning their attention and wallets over to Canada, and for good reason. Due to its flourishing economy and low tax rates, now is an opportune time to invest in Canadian real estate. Continue reading for a concise compilation of reasons to invest in this incredible country, and more specifically in the City of Toronto.
Canada’s economic future is brighter than ever, with prospects ranking high among the world’s G7 and a projection of being second highest second-highest in 2019-2020. This incredible nation boasts a predictable, diverse, and inclusive economy. Being highly developed and one of the largest in the world, it’s easy to see why people are taking note and investing here. Real GDP saw a 0.3% increase in the first quarter of 2021, primarily due to low mortgage rates, rising housing demand, and government transfers to households and businesses. In addition, solid employment rates, a steady political outlook, and a welcoming immigration policy make Canada a land of opportunity investors are lining up to partake in.
Since January 2015, Canada has created over 1 million jobs, an increase of nearly 6%, with over 85% of them being full-time positions. Teeming with job opportunities in various exciting fields, investors and immigrants alike choose Canada for its fair salaries and excellent quality of life. Canadians are hard-working, passionate people and Canada is always looking to add more educated and dedicated workers to their payrolls. In 2018 alone, Canada admitted 321,121 permanent residents, a commendable reflection of how Canada treats immigrants seizing opportunities and improved lives.
Employment opportunities for these new residents and locals are quite vast. For instance, Canada’s tech sector is making tremendous strides. With over 41,500 tech companies to choose from, highly-skilled and experienced tech workers are in high demand. In addition, Canada ranks seventh in the EIU global business rankings for 2019-2023. Given its wide-ranging industry opportunities, market opportunities, foreign trade and exchange, and low tax rates, it’s easy to see why real estate investors choose Canada.
You may be thinking, “Canada is such an expansive county. What sets Toronto apart as a great city to invest in?” Toronto remains one of the best cities to invest in due to its incredible lifestyle amenities. It is a cultural and entertainment haven and Canada’s financial capital. Everyone savors Toronto’s plethora of museums, theaters, art galleries, festivals, sports teams, restaurants, parks, and waterfront.
Toronto is home to many iconic festivals and recreational opportunities, and being a resident means never experiencing a dull moment. On any given night, you can delight in a memorable show performed by The National Ballet of Canada, the Canadian Opera Company, or the Toronto Symphony. Be sure to catch the Toronto International Film Festival (TIFF), enjoy Pride Week, or sit on the edge of your seat at the Grand Prix. Show your local pride at a Toronto Maple Leafs, Toronto Blue Jays, or the 2019 NBA Champions, Toronto Raptors game. Take your family to Ripley’s Aquarium to glimpse an underwater world of wonder or head to the CN Tower for a spectacular bird’s-eye view of this marvelous city. Toronto has a beloved pastime suitable for you, no matter your age or taste.
Ranked seventh as 2018’s Most Liveable Cities out of 140 cities, being the most eclectic city globally, and proliferating each day, there’s never been a better time to invest in Toronto. If you have fallen hopelessly in love with Toronto and wish to invest in Toronto real estate, contact the Penthouse Queen today.
With more than a decade of experience, Claudine Montano possesses a strong business acumen of Toronto’s constantly evolving real estate market. Claudine Montano is a Broker of Record with RE/MAX Hallmark Montano Group Realty affiliated with RE/MAX Hallmark.