As you guys might already notice, our team is back to working on the Pre-construction development. Today I want to introduce How immigration is shaping the real estate market specifics in Pre-construction development.
For the last 40 years, immigration has played an integral role in the Canadian real estate market. Homeownership is often the single largest investment that a household or individual makes in their life. The decision to buy a home has an impact on consumer behavior, income, wealth, and economic well-being. Homeownership marks a significant investment and is a goal for many people at different stages of their life.
For immigrants, it can also be an important milestone in their settlement in Canada.
Immigrant settlement is often viewed through the lens of economic integration, employment indicators, and income levels. But looking at integration in terms of homeownership rates reveals an important milestone towards social and economic integration among Canada’s immigrant population.
Canada’s Immigration Levels Plan 2021-2023 is the most ambitious effort to welcome newcomers in the country’s history.
Immigration, Refugees and Citizenship Canada (IRCC)
Canada will aim to welcome over 400,000 new immigrants each year to support the country’s high living standards. Despite the coronavirus pandemic, Canada is on track to achieve its high immigration targets in 2021.
This comprehensive CanadaVisa page outlines everything that you need to know about the plan, why Canada welcomes high levels of immigration and the impact of COVID-19.
Over the next 3 years, Canada will seek to welcome over 1.2 million new immigrants.
The insight:
We all know, for everyone. Find a place to live will be the most important thing. For immigrants, it can also be an important milestone in their settlement in Canada.
Therefore, the realty market will bounce back. With Canada expected to increase immigration levels, and millennials and remote workers looking for new homes, the country will need to build more single-family homes. So we can see the benefit of purchasing the Pre-construction development.
FIRST TIME PURCHASING PRE-CONSTRUCTION?
You’ve contacted the right team. We specialize in pre-construction and have direct relationships with developers to get you into a project FIRST. With a depth of knowledge about the real estate market, developers, floor plans, and investments, we make sure our clients have all the information they need to make the right decision for them.
Many of our clients find it helpful to meet prior to the launch of a project to help get questions answered. If you would like to schedule an appointment, please get in touch with us directly – we can go through the pre-construction process from purchase to closing and look at all available options based on your needs.
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