Words: Keith Osborne
Published: 15th May 2008
Canada – Top 10 research resources
This week we look at some of the best internet resources for property professionals considering entering the Canadian property market. This vast but sparsely populated country has experienced steady
real estate price growth over the past decade.
In contrast to its neighbour the USA,
Canada’s property market is in
good shape.
Inflation is low, as are
interest rates. Property law generally follows English legal principles (except in Quebec), with no major restrictions on foreign ownership.
Tourism plays a huge part in the Canadian economy. The
latest figures show a steady increase in tourist numbers and a wide international audience. There is overseas demand for property across the country, from Newfoundland in the east to Vancouver in the west.
Skiing and
golf are both incredibly popular and many new developments cater to these markets.
Agents should not forget that Canadians are also overseas property buyers. Many head for the US sun in winter and make up a
large percentage of buyers in some regions of the States. There are clearly great opportunities for agents who can crack this market too.
We’ve looked at many websites to select the best ones for agents looking to enter the Canadian property market. We’d love to hear your thoughts too, so please
post a comment if you’d like to share your favourites:
- REM Online. Industry magazine for the Canadian real estate profession. The print version is distributed only in Canada, but the website features extensive free-to-access news articles and features as well as a forum covering the hot topics of the day for Canadian realtors.
- Real Estate News Exchange (RENX). RENX has been published since May 2001 and aggregates news articles about Canada’s residential and commercial property markets. It uses reputable sources including the domestic Canadian press, international news sites and reports by some of the country’s leading realtors. Sign up to its free email newsletters for a weekly update.
- Canada Tourism Commission. The CTC conducts a great deal of research in its mission to promote Canada as a tourist destination and raise the country’s international profile. Aside from some excellent downloadable statistical data, this site offers a wealth of free resources from pictures to market profiles and background information.
- Montreal Property Blog. This blog has lots of detailed information about the property market in and around the Quebecois capital. It’s mostly in English (some articles are in French) and is updated every day. There are also a host of useful links to regional and national market reports.
- Property Wire. News stories from the real estate sector categorised geographically. As well as free-to-access news articles, there’s a “forum watch”, highlighting the most notable discussions on property forums, and the site actively encourages personal submissions from professionals and consumers. There’s also a free newsletter providing the top stories on a weekly basis.
- Canada United Kingdom Chamber of Commerce. While there’s not a great deal of information on the site itself, the organisation can boast Erna Low, Knight Frank and PURE International among its newer members, suggesting that the networking events and potential partnerships it offers could benefit other property companies. Corporate membership for UK companies starts at £300 + VAT.
- Canadian Economy Online. The government of Canada aggregates all the latest economic data as well as an archive of historic information on this useful site.
- Assignments Canada buying guide. A concise and easy-to-read overview of the property buying process in Canada, highlighting how the rules for residents and non-residents and differ between each province, with details of the taxes and charges payable.
- Gowlings’ “Establishing a Business in Canada”. For those considering going the whole hog and setting up their own business in Canada, this detailed 67-page document from a nationwide legal firm gives you the low-down on all the legal considerations on a wide range of topics, including employment, taxation and overseas trade.
- Canadian Business Online article. This recent (28 April 2008) article from Canadian Business magazine appraises the market today with a look at the national picture and each regional market.
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