Sales of apartments in Canada began to grow for the first time in two years. According to the Canadian Real Estate Association (CREA), in April, the number of transactions increased by 4.2 percent compared to a year earlier.
This is the first annual increase since December 2017. The result contrasts particularly sharply with the 11.2 percent decline in sales that occurred in 2018.
sales of apartments in Toronto and Montreal increased mainly.
Last year, the Canadian economy grew by 1, 8 percent. The Bank of Canada (BoC) expects economic growth to slow to 1.2 percent this year. In April, the BoC kept its key rate unchanged at 1.75 percent to support the economy. increasing it five times since July 2017.
According to experts, the average cost of
an apartment in Toronto is about 9,410 dollars per square meter.
You can buy an apartment in Toronto with an area of 120 sq.m for $1.1 million. Rental yields are moderate, around 4-6 percent.
