Residential
property in Canada has risen significantly in recent years.
According to the Montreal Gazette, apartments and homes in Canada's second-largest city, Montreal, have risen in price by an average of 20 percent in the three years since the last valuation campaign. In some areas of the city, housing prices have risen by as much as 28 percent. If three years ago the average price at which you could
buy an apartment or house on Montreal Island was $510,000, then today it is 600,900.
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, about 4-6 percent.
At the same time, the Canadian authorities note that the general rise in housing prices does not at all mean an increase in taxes on it on the same scale. Benoît Doré, chairman of the Montreal City Hall's executive committee, said property taxes will rise by an average of 2 percent in 2020. By November, a recalculation will be carried out so that taxes do not grow at the same rate as the price of real estate. Rental yields are moderate, about 4-6 percent.
At the same time, the Canadian authorities note that the general rise in housing prices does not at all mean an increase in taxes on it on the same scale. Benoît Doré, chairman of the Montreal City Hall's executive committee, said property taxes will rise by an average of 2 percent in 2020. By November, a recalculation will be carried out so that taxes do not grow at the same rate as the price of real estate. Rental yields are moderate, about 4-6 percent.
At the same time, the Canadian authorities note that the general rise in housing prices does not at all mean an increase in taxes on it on the same scale. Benoît Doré, chairman of the Montreal City Hall's executive committee, said property taxes will rise by an average of 2 percent in 2020. By November, a recalculation will be carried out so that taxes do not grow at the same rate as the price of real estate.
