Contrary to general opinion that the housing market is set to slow down in Canada in 2016, Halifax home sales got off to a strong and promising start.
According to figures published by the Canadian Real Estate Association (CREA) there was a 7.2% increase in home sales in the Halifax-Dartmouth area in January from the same period in 2015.
A local agent for RE/MAX comments “Things have actually been quite strong since November”.
In January, an impressive CAD$63 million worth of residential properties changed hands in the city, a 5.2% increase on figures recorded in January 2015.
The RE/MAX agent confirmed that the trend of over-supply and under demand dominating the market during the last couple of years seems to have reached an end. New home listings were down by 24% in comparison with January 2015.
CREA is forecasting a 6.7% increase in Nova Scotia home sales this year with 8,910 sales expected in 2016 along with an increase of 1.4% in the average sales price.
For foreign investors, there has never been a better time to invest in Canada. Ailse MacFarlane, Managing Director of Landcorp International comments “The positive news regarding the Halifax housing market is very encouraging for investors looking to enter the property market in Atlantic Canada. We are seeing strong demand from European and Middle Eastern buyers driven by the value for money you find in Nova Scotia coupled with the weak Canadian dollar and the fabulous four season lifestyle offered in this beautiful region of Canada. It ticks all the boxes”.
Investors can place a deposit on a development plot in Forest Lakes Country Club – Nova Scotia’s premium four-season resort – from £30,000 with the option to complete on the plot in the future to take ownership of the plot or to opt for a fixed contractual return via a contractual developer buyback.
For more information please download a copy of our brochure by clicking on this link: http://www.landcorpinternational.com/forest-lakes-brochure/.
