Canada is top choice for Brits
An appealing option for Brits
Low living costs, an outdoor lifestyle and a common language help make Canada an appealing option for Brits according to OPP Magazine, Feb 2007.
Research by Homebuyer Events shows that in 2005 15,000 people emigrated to Canada with most citing cost of living and property prices as major factors.
Not all were retirees but, surprisingly, 150,000 Brits draw their pension in Canada, and this destination is now taking a sizeable chunk of the retirement market according to currency specialist HiFX. "From quaint, east-coast fishing villages to the Rockies and beyond, the world's second largest country is friendly and refreshingly civilised place that ranks second to Australia as the ideal expat haven", says marketing director Mark Bodega.
Bodega says that Canada's low cost of living and exchange rates make property buying a better bet than its US neighbour but adds that the Canadian market is not just about investment. "Liberal Canada always ranks well in quality of life surveys: the urban lifestyle is highly developed, but the great outdoors is never far away. With more budget flights to and from the UK, Canada's popularity looks set to increase still further".
It's Canada's potential for outdoor activity which really appeals
As the Canadian Dollars has just broken through the 2.30 barrier, now is an ideal time to buy in Canada where the Pound now buys a serious amount of house. The eastern coast has the lowest prices and easiest access for Brits who can fly to hotspots such as Nova Scotia in around five hours. Its climate can't compare with retirement destinations like Florida but it does boast relatively mild winters says Tradewinds Realty's Tim Harris and its low cost of living compared to the rest of Canada is also a draw.
Currently 45% of sales are to retiring buyers with many coming from the UK, says Harris. "Many have chosen a three to five year plan. They have some vision of having a holiday home in Nova Scotia to begin with and then using it as a retirement home. Those than can afford it will have an eye on a second home for winter somewhere south."
But today's retirees are no longer content to doze in a deckchair in the sun and it is Canada's potential for outdoors activity which really appeals. Much of the country offers four-season activity from golf to fishing, cruising, sailing and winter skiing and it is this and its traditional way of life, which appeals, says Harris: "It is a very pleasing place to do business and still have time to have tea with friends."
"Everyone makes time to have a chat by the side of the road or at the post office and bank. Pleasant communication is the norm in Nova Scotia." Canadian commission fees range between 2.5%-5% and UK clients will find a range of property suitable for retirement at attractive prices. Condominiums have the benefit of shared maintenance costs, an attraction for buyers on limited budgets, and start at around $260,000.
Booming Economy
Sotheby's Jeffrey Mayes reports that Brits love the lifestyle that comes with being based among mountains, lakes and forests yet with access to the city of Montreal within 45 minutes and that property prices and construction quality are both draws. In British Columbia, sizeable ranch style homes start from under $400,000. Agents report that selling to Brits is straightforward, as they need little hand-holding thanks to a feeling of instant acceptance in a country whose descendants are of Scottish and English lineage.
The retirement process is easy too, says Herman Van Reekum of Van Reekum Veress Immigration Consulting, the largest firm in Calgary. Van Reekum has watched a surge of Brits cross the Atlantic especially in the last 5 years. "We've seen a growth in tourists and people coming here to work and lately many are retiring here."
Based in Alberta, Van Reekum says that this region has a booming economy and a shortage of skilled labour, which often tempts Brits out of retirement. Currently most come on visitor visas, which as in the US, allow stays of up to six months at a time. "This suits most people who go back and forth to the UK anyway" adds Van Reekum who advises anyone considering working that it may be possible to extend their status according to the Canadian points system.
Medical facilities throughout the country are easily accessible but public health insurance is limited to those on work or study permits or permanent residents making private health insurance a must.
Specific retirement developments are a rarity in Canada but today's retirees want "total resorts" offering a secure environment and amenities on site. Canmore's Three Sisters Mountain Village and Humber Valley in Newfoundland are examples of developments boasting an array of services. They are aimed at youthful retirees who are looking for somewhere where friends and family will visit says Newfound Property International's James Barnes: "Humber Valley offers the full gambit from traditional activities like fly fishing to downhill skiing. Unlike Spain which has little to offer out of season this is where Canada really stands out."
INTERNATIONAL?
Landcorp International undertakes years of due diligence before committing to any new projects. As a company we only participate in land that is earmarked for future development. Unlike companies offering greenbelt, protected land or land with no clear path to development, Landcorp only offers land designated for development. Landcorp also restricts relationships with development companies only to those who retain a large interest in the land. This is a strong indicator of their commitment to the project and the vested interest propels the company towards securing that vital authority approval.
