canada property seeing massively increased foreign demand
News Posted On: 28 January 2010
Paul Collins of Buy Association has recommended Canada as a good destination for British lifestyle buyers, reading between the lines he was aiming his comments at those considering leaving the UK on a more permanent basis.
This is not the first time we here at Property Abroad.com have commented on the rising popularity of Canadian property, nor is it the first time we have mentioned that a large part of that popularity comes from the massive amounts of people wishing to leave the UK and go live abroad.
We watched the popularity of Canada rise towards the end of last year, finally rising to be 5th most popular in December, up from 6th most popular in November.
Its rise in popularity with our predominantly British user base coincided with the rebound of the market, to suggest that at least some of those Canadian property searches and enquiries were coming from people with investment on their mind.
In December, when we revealed Canada had been 5th most popular country with those browsing, searching for and enquiring into overseas property on our site, the Canadian Real Estate Association revealed that sales of residential property in Canada were up 72% year on year in the same month.
Canada's economy proved more resilient to the effects of the international financial crisis than anyone could have predicted due to its proximity to the US. Because of this the panic-driven interest rate slash led to a liquidity surge similar to that seen in Asia, and this explains the massive growth seen in the Canadian residential property sector since as early as April last year.
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