The economic forecast for Canada in the New Year paints an overall favorable picture. The projections are especially encouraging since the real estate market is set to grow in 2015. One factor fueling positive expectations for the general economic landscape for Canada is its trading partner, the United States (U.S), posted robust job results for the final quarter in 2014.
The market conditions in Canada will facilitate modest job growth and increase activity in the housing market. According to the RE/MAX 2015 Market Outlook Report the country’s region will see modest gains for average residential sale price and economic performance will be steady.
“The economic outlook for Canada in 2015 is stable. The Bank of Canada has projected GDP to grow by approximately 2.5 per cent, a rate that is roughly on par with 2014’s growth,” according to the RE/MAX analysis.
Foreign investment in Canada’s real estate market makes perfect sense and something to look forward to. As it turns out the country’s laws are lenient and somewhat liberal when it comes to owning a house.
So whether you are looking to relocate, visit or buying land in Canada you will be surprised as to what the requirements are. You do not have to be a resident or a have Canadian citizenship in order to buy or own property.
Investopedia.com noted that you can occupy a Canadian residence temporarily without dealing with too many restrictions. Make sure you comply with Canada’s immigration and tax laws.
Investment tips for buying land and technology trends within the real estate industry
Whether looking into purchasing, buying or investing in anything, for starters educate yourself before spending. Learn the ins and outs of the Canadian real estate industry first of all.
A MoneySense article acknowledges that investing in land is not always a walk in the park. The advice or insights for these types of transactions include:
- Proximity to urban infrastructure
- Road access and allowances
- Your timeline
- Environmental issues
These points are more than just a starting ground, but really the foundation into making sound investments in land. These will remove a lot of headaches and the criteria will eliminate investments out there that may sound at times too good to be true.
Canada has embraced technology in a very big way, indeed drones are being being used within real estate at an astonishing rate. Unmanned aircrafts are increasingly utilized for potential buyers out of the country.
A CBCNews report confirms drones are indeed aiding the process of selling Canadian property. The usage of them reduces costs of using a helicopter and hiring an expensive photographer. The aerial photography provides a unique perspective and offers more value to buyers.
Finally, it is an exciting time to be investing in Canada’s market. There are just a handful of requirements to fulfil when buying a home and as you can see the market is set for healthy growth.