It is no doubt that housing remains one of the major factors to consider when deciding to take the big step of relocating to Canada. Having to come in contact with the complexities of not finding suitable living conditions can be a hard nut to crack which is why a lot of people are solely concerned with figuring out accommodation possibilities in the country of landing before even going there. A lot of speculations have woven around the challenges of traveling all the way to a very different sphere with no appropriate projection of what to expect based on the accommodation factor.
The National bank of Canada has released its quarterly Housing Affordability Monitor which shows that average housing price has reduced drastically by 1percent since the quarter of 2019, making it the largest quarterly decrease that Canada has seen in a decade. Additionally, the median household income increased by 1.7 percent, while mortgage rates dropped 3.6 percent to 45.1 percent in the past few months. These factors, along with the decline in housing prices, have contributed to the current improvement of housing affordability.
Comparing to the top ten urban cities in Canada, affordability improved the most for Vancouver, Victoria, Toronto and Hamilton. However, while Vancouver and Toronto continue to be the most expensive cities to live in across the country, Quebec City and Winnipeg were among the most affordable metropolitan cities ranked.
Top countries around the world are also ranked based on their average price for a downtown apartment. Leading the list was Hong Kong at $3,424 USD for a 645 sq. ft. apartment, with major US cities not falling far behind. The same size apartment cost $1,410 USD in New York, $1,161 USD in San Francisco, and $1,024 USD in Boston. Canada’s metropolitan city prices were half as expensive as a New York apartment: $764 USD in Toronto, $699 USD in Vancouver, and $468 USD in Montreal. If you are looking to live and work in Canada, the time to do so has never looked better.
Finding the perfect accommodation that tallies with your budget is not a problem anymore as with the reduction in housing costs has enabled both permanent residents and citizens to live their best lives in Canada. All these privileges are quite easy to claim once you successfully become a permanent residence. This is achieved by joining the Express Entry pool to increase your chances of selection into Canada.
If you desire to join the pools to qualify for a draw then fill out our eligibility assessment form on http://canada.palsconcierge.com/. For further information regarding the procedures for applying for Canadian Permanent Residence or top-notch guide towards a successful Canada visa application, visit us at our office address: http://bit.ly/Pals_office_address Reach us via Call: 09080000589 or 08188877224 (serious inquiries only) Chat with us on WhatsApp: 09080000589 or 08188877224 (serious inquiries only)