Market Updates

Canada | John Hu Migration Consulting | Strategies For Buying Canadian Properties

Many clients with direct PR aren’t sure whether they should invest in Canadian real estate. The property price in Canada’s two largest cities, Toronto and Vancouver, has increased rapidly in recent years, yet people who don’t have a Canadian passport or Maple Leaf Card still need to pay an additional fifteen to twenty percent of the property price. John Hu Migration Consulting invited Terence to explain this situation and the investment on Canadian real estate.

Factors of the Increase in Canadian Property Price

Real estates in Toronto and Vancouver, the two biggest cities in Canada, are popular due to its appreciation potential instead of its rental returns. Although Ontarioes, like Toronto, are under lockdown due to the pandemic, their property price increased significantly in the past year. The real estate market in Toronto is now more similar to that in Hong Kong: property developers “share the property”, people are willing to line up overnight, properties are often sold out quickly, and reactions to property sales are always enthusiastic. On the other hand, the average transaction entry price in Vancouver has reached 1.5 million Canadian dollars. In order to satisfy local demand, the real estate markets in both Toronto and Vancouver are becoming more active. Factors people consider while investing in real estate include interest rates, quantitative policies, stock market volatility, or winning money and turning into an investment. All these factors have caused property prices in Canada to continue to rise.

Common Delay in the Construction of Canadian Real Estate

Constructions are often delayed in Canada, especially in Toronto because of two reasons. First, the working hours of Canadians are much shorter than those of Hongkongers. Second, for six to seven months each year, Toronto is covered by thick snow and wind, stopping construction work from following the original schedule. And because constructions are often completed later than expected, short-term users should never buy long-term properties. On the other hand, due to the better weather in Vancouver, its constructions’ delays are not as severe as in Toronto.

Non-Canadians, Be Aware of the Additional Fee!

If you do not hold a Canadian passport or Maple Leaf Card, you will have to pay an additional 20% stamp duty for shopping properties in British Columbia or an additional 15% for overseas properties in Ontario. In terms of receiving properties, Ontario and Toronto offer two methods. The first method is interim closing, which allows you to move in before paying the remaining fees. The second method is final closing, which requires you to pay the remaining fees before moving in.


Canadian property developers require clients to pay 35% of the cost before the construction is completed, so the Canadian government allows people to borrow 65% of the property price with mortgages, so the risk is relatively low for investors. However, because the cost of investing in real estate in Canada is still very high for Hong Kong people without Canadian identity, Terence advises them not to buy Canadian properties.

John Hu Migration Consulting Information

John Hu Migration Consulting provides professional services for investment, entrepreneur and skilled migration to Australia, New Zealand, Canada, United States, United Kingdom, and other European countries. The firm has a professional team of registered and experienced immigration attorneys and consultants to serve its clients well.

This article has been reproduced in text with the permission of John Hu Migration Consulting.

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