Toronto Condos Blog

Advice for people new to Canada!

The Canadian real estate market has always been attractive to newcomers to Canada. The political stability, economic stability and the desired social landscape have made Canada one of the predominant destinations to many immigrating families. Mohammad Hafeez touches this point in a recent article featured in CondoLife magazine (July/August edition). 

Here's an excerpt. 

How can a newcomer buy a piece of Canada?

The government acknowledges the fact that immigration plays an important role in driving the economy and that the settlers' contributions to the Canadian society are enormous. This country's booming real estate market can largely be attributed to the constant influx of immigrants from around the world. Throughout the past decade, some 250,000 new immigrants have been arriving here annually, a good majority of them skilled workers. Recently, citizenship and immigration Canada observed a tapering off of immigrant arrivals. As a corrective measure, which too effect on May 1, it increased the number of skilled eligible occupations from 24 to 50 and also raised the yearly cap of 5,000 to 25,000 immigration applications for remained of the year. 

Recognizing the importance and potential of this demographic, most Canadian banks have developed special services tailored to the needs of new immigrants including no-fee checking accounts, rebates on safety deposit boxes, secured and unsecured credit cards, reduced foreign remittance fees, and more. Some are also offering attractive products to temporary foreign workers including a wide variety of mortgage options. For anyone to attract favourable interest rates, the mortgage financing has to be 75 per cent less of the purchase price. To those with 35% down on a property, the bank would generally waiver income requirements. 


For more information on Toronto Condos or Toronto Lofts check out 









The Prince Arthur condos

One St. Thomas

100 Yorkville at Belair

99 Avenue Road

Residences at Hazelton Lanes

The Regency Yorkville

Sotheby's International Realty Canada | Every Home Needs a Proper Frame

Marco Chiappetta | Sotheby's International Realty Canada | Top Toronto Luxury Condo Broker

416.806.6133 | CONTACT US |


About  |  Blog  |  Terms of Use  |  Site Map |  Contact Us  |  Buy Toronto Condos  |  Sell Toronto Condos  |  Toronto Luxury Condos | 

Copyrite 2016 MARCO CHIAPPETTA and All Rights Reserved

Trademarks owned or controlled by The Canadian Real Estate Association. Used under license.

The information provided herein must only be used by consumers that have a bona fide interest in the purchase, sale or lease of real estate and may not be used for any commercial purpose or any other purpose.

Information is deemed reliable but is not guaranteed accurate by TREB.

Toronto Real Estate Board - IDX Last Updated: 8/21/2017 1:20:33 AM