Canadian Real Estate News Headlines (March 27th 2019)
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I provide you with Canada’s news headlines for real estate news for today.
Canadian Real Estate Demand Slips Further In February
Canadian real estate is cooling down even further from last year. Canadian Real Estate Association(CREA) numbers show the sales to new listings ratio (SNLR) declined further in February. The ratio, a relative measure of demand, showed more inventory and fewer sales are a broad trend. Markets taking the biggest hit are located in Greater Vancouver, and Toronto’s suburbs.
Chinese buyers will continue to hunger for Canadian property
The Chinese will still actively seek out Canadian real estate, but international property portal Juwai.com has predicted that growth in demand will be muted compared to the fevered pace of the previous years.
In 2018, Chinese nationals expressed approximately US$1.45-billion in purchase intentions on Canadian properties.
However, with the market-cooling effects of foreigner-targeted regulations taking root in Toronto and Vancouver for most of the year, the volume of Chinese inquiries in Montreal, Calgary, and Halifax has significantly escalated.
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