Reason to incest in canada canada

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La Avenue Condos - montreal

Reasons to invest in Toronto North America’s “Fastest Growing” city

Toronto is one of the fastest growing cities in North America, ranking 5th in population growth over the past 5 years.

Why invest in Toronto?

• Largest population in Canada - Home to 5.6 million people
• One of the 10 most economically powerful cities in the world (Forbes Magazine)
• Centre of Canada’s banking industry – ranked as world’s soundest banking system for the past 5 years in a row (World Economic Forum)
• Toronto ranked #3 city overall in Cities of Opportunity study of economic leaders: PwC
• Strong growth – Toronto now 4th largest city in North America (February 2013)
• Toronto is Canada's banking/financial capital and the home of its principle stock exchange, the Toronto Stock Exchange

Why Toronto Condominiums ?

At the heart of Canada’s real estate boom, is Toronto, the nation’s financial center. Home to over 5 million people, Toronto is one of the leading financial centers in the world, having been recognized by the World Economic Forum as the world’s soundest banking system – for the past 5 years in a row. Through the heart of the global financial crisis, condominium prices in Toronto have continued to rise, increasing from a median price of $230,825 to $306,733, a 32% increase. Toronto’s continued population growth and limited available lands have led the Conference Board of Canada to project continued price increases for the foreseeable future. Toronto is one of the greatest cities in the world to do business, consistently ranked at the top when it comes to global competitiveness, innovation and quality of life. Very few cities in the world can offer such multi-sector strength, depth of talent and a driving economic and financial engine.

Investing In Canada For Non-Resident Investors

Here are some factors that make property in Canada (and specifically in the Greater Toronto Area) very attractive for foreign buyers:

Underestimated value and room for growth

The price for a square foot for residential and commercial property in the Toronto area is one of the lowest in the world among the cities of the same caliber. Experts predict that the real estate prices in Toronto will grow significantly in the near future.

Stable political and economic situation

Canada is one of the most developed western countries with stable political system, strong economics and strict adherence to laws. This is probably one of the main reasons why foreign buyers choose Canada for investment in real estate. Because they know that their savings here are safe and protected by law.

Equal ownership rights for Canadians and non-residents

In accordance with Canadian law, non-residents have the same rights as residents and citizens of Canada in terms of buying, owning or selling real estate in Canada.

Canadian law allows foreigners (non-residents of Canada) to buy, own, rent out and sell their property without any limitations. There are no differences in the ownership rights between Canadians and non-citizens. Non-Canadians are also eligible for receiving a mortgage for purchasing property in Canada. The only requirement is making downpayment in the amount of not less than 35% of the purchase price. A purchase can be made even without presence of a buyer in Canada. The deal could be done on behalf of you by your representative (for example, a real estate agent) to whom you give the power of attorney. There is another alternative that is commonly used: the purchase can be made through the use of a fax or a courier service for exchanging the signed and sealed documents between buyer and seller.

**Metropolitan Condo Outlook – Winter 2013 – By The Conference Board of Canada and Genworth Canada. The Conference board of Canada is the foremost independent, not-for-profit applied research organization in Canada. Resale Condominium Apartment Market (Toronto)**

Toronto Real Estate Investment vs. The Stock Exchange

This chart is a great example proving the above points and showing how real estate holds up in an economic downturn. It is worth noting that historical trends are also teaching us that economic downturns like the great recession we just went through, will continue to happen more, and wreak greater havoc on our markets.

Tax Benefits

You should know that non-residents of Canada do not pay any taxes or fees on the funds that they invest into real estate in Canada (if these funds were earned outside Canada).

Any owner of the property in Canada pays the property tax, which is the same for Canadians and non-citizens.

There is one difference in paying taxes by a non-Canadian owner. When you sell your property in Canada, you will need to pay taxes for gain capital (the difference between the price when you originally purchased the property and the sale price). However, if by the time you decide to sell your property, you have become a resident of Canada, and this property was your primary residence, you will be exempted from paying taxes for gain capital.

In case of death of a non-Canadian owner, his property will be inherited by his successors. You should know that there is no inheritance tax in Canada, and a successor will need to pay only taxes for gain capital - when he sells the property (if a successor is not a Canadian resident). However, if a successor has a permanent resident status in Canada and the inherited property was his primary residence, he will not be paying this tax.Overall, there are great conditions for investment in property in Canada, and especially in Toronto.