Hello, everyone.
I provide you with Canada’s news headlines for real estate news for today.
Canadians Join Wealthy Chinese, Russians In Buying US Properties
According to International Business Times,
Canadians have been purchasing property in the United States in record numbers, with the period between spring 2016 and 2017 seeing an all-time high of $19 billion, it was reported Saturday.
The figure from a report by the National Association of Realtors (NAR) is believed to be something of a surprise due to the relative weakness of the Canadian dollar against its U.S. counterpart. Experts, however, said there are two buyer groups for whom the exchange rate currently is not a factor — retirees, and investors wanting to cash out of the Canadian real estate markets in Vancouver and Toronto.
The detail is here.
The US sees the rise of Canadian homeowners
According to Salam State Log,
The Canadians spent $ 19 billion, more than double the previous year, mainly in the southern Florida state sun, said the National Association of Realtors.
Purchasing abroad increased from 32% in April 2016 to March 2017.
The detail is here.
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Also published on Medium.
