Will retirees bear Canada in mind?
Demand grows, capital gains up
The next big thing for UK property investors
Retirement and relocation favourite Canada has been tipped as the next big thing for UK property investors based on capital gains of 9.4% a year, a growing rental market and relatively cheap property compared with the UK.
This prediction from Investment specialist, Assetz, coincides with the launch of its new Canada division. It claims that British ski tourists are driving demand for rental accommodation in British Columbia and Mont Tremblant as well as new low cost flights from chartered airlines.
Cheap for a Mature Market
As well as a long ski season- which lasts from November till June - Canada is also becoming a popular golfing destination.
Highlighting strong capital gains, low interest rates and growing demand from British buyers, sales manager at Assetz, Martin Sadler, said: "Prices are still considerably cheaper than in most other mature markets, with a typical one-bedroom ski apartment costing around £150,000.
Canada has an interest base rate of 6% and with mortgages available at 0.85% or more below this rate, providing investors with mortgages rates as low as 5.15%.
Heavy Promotion Helping
Canada is spending $75million a year to raise its global profile, according to Travelmole.
British Columbia is one of the hottest markets in Canada, where record construction levels have created 106,734 new properties and pushed the total value of real estate to $808 billion, according to BC Assessment's 2007 property roll.
Article from OPP Magazine, Feb 2007 Issue.
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