New Immigration Rules to impact Canada’s Housing Market

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West Side Luxury Real Estate

The Canadian government’s decision to axe a 28-year-old visa scheme for immigrants will have a substantial impact on the housing markets in Canada, especially in Vancouver and Toronto, experts say.

Canada scrapped its Immigrant Investor Program earlier this month. The scheme was particularly popular with wealthy real estate investors from mainland China.  Under the program, foreign investors with a minimum net worth of C$1.6 million (US$1.44 million) were granted Canadian residency in return for making an interest-free loan of C$800,000 (US$726,720) to the government for five years. The government returned the principal amount in instalments over five years.

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Todd Johnson Real Estate

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Down Town Vancouver at Dusk

Todd Johnson Real Estate offers premium residential real estate services to clients throughout Vancouver, BC and the lower mainland. Our clients have continuously defined us as a cut above the competition due to our extensive knowledge and service commitments. We understand and recognize that little pockets throughout the city are different and should be marketed appropriately. We treat every client, every home and every market distinctly. We don’t reinvent the wheel, we just like to make it spin better, faster and with the least resistance.

Some of our definitive Real Estate Services include:

  • Downsizing
  • Luxury
  • Estate Sales
  • Divorce Sales
  • First-Time Home Buyers
  • Investment Properties
  • Relocations

Please give us a call or email for any questions or enquiries.  See you soon.

Todd

 

 

Sutton West Coast Realty