Wealthy foreign inflation on Canadian real estate is quite evident.
Wealthy foreign inflation on Canadian real estate is quite evident.
Fwiw Toronto is quite affordable still; you can live like a king in a brand new condo with curtain glass walls overlooking the city for under US$500k.
Calgary: 1.1m
Edmonton: 820k
Ottawa: 800k
The surrounding areas are suburban, not farmland, just like any metro area for most of these cities. Greater Montreal is about 4m people for example. Canada is a whole hell of a lot more than just Vancouver and Toronto. Actually Vancouver is relatively small with its 600k population and greater metro area of only 2.4m. Toronto and Montreal are the real population and economic centers and Vancouver coming in 3rd place.
I'm a US citizen and I've been to some of these places. It blows my mind how dismissive people are of Canada. It has more than a little diversity, distinct regions, amazing people, and the population of California and almost its GDP. Its 10th on the GDP scale globally. This isn't some farmland country, its a economic powerhouse.
That's just a coincidence of lines on a map. Vancouver is very much like San Francisco in this respect; unless you're a local, when you say "San Francisco" you're probably including areas like Oakland and Berkeley, and you might be including areas as far out as San Jose.
My sister lives in a city right by Montreal, but most people would consider it to be Montreal if you don't live in the area.
"Ottawa has both Kanata and Orleans for example (and possibly Hull depending on what you consider Ottawa)"
NCR, or Nation Capital Region refers to Ottawa + Gatineau (Hull is part of Gatineau) and surrounding areas. [0]
However, for those who aren't from Canada, Gatineau is in fact in the Quebec Province, and Ottawa in the Ontario province. They are separated by a river. You can walk over the bridge from Downtown Ottawa to Gatineau in about 5 minutes.[1]
In terms of housing prices though, Gatineau and Ottawa are completely different animals. Even inside Ottawa, the range is quite large.
[0] https://en.wikipedia.org/wiki/National_Capital_Region_(Canad...
[1] Lived in Ottawa most of life, and my partner walks over the bridge every day for work from Ottawa to Gatineau, even in the dead of winter.
I lived in Ottawa for about 3 years (and my aunt, uncle, and cousins all live in the area).
Is this sarcasm? USD 500K translates to 660K CAD. Is this supposed to be affordable? I love Toronto but the real estate prices are out of control. They should implement similar measures in Ontario.
You can't own anything at all at that price in SF or Vancouver. Maybe a shitbox in NYC.
Spoken like a true citizen of the Center of the Universe
3 bedroom condos in the core are rare, and generally start around $800k CAD
Parent bedroom - 1 room
Kitchen - 1 room
Living room - 1 room
Kid bedroom - 1 room
.....
Sounds lovely, for 500k USD...