Which is the better selection for real estate investors? Canada vs USA.
September 24th, 2009 by admin
Countries around the world have adapted the boom period prices and now are offering real estate properties with alluring discounts. Investors in real estate look forward to these days. To bag a low price. What are the dissimilarities between the competitors?
The USA real estate prices are not yet seeing a comeback, whereas in Canada the multiple listing services have a multitude of real estate and prices are beginning to climb. So do lower prices mean a prime investment? Canada is still seen as the prime real estate investment option by those whose job it is to monitor it.
The most viable option for real estate investment is still Canada over the the USA as stated by property experts all over the world. Even though prices seem to be levelling off in the USA, experts assume that there may be more drops ahead. At this time there is many problems affiliated with the US property market, such as inadequate returns and high taxes. As a result the US market received only 2 stars out of 5 in a long term investment assessment chart.
Canada has aquired 3 out of 5 stars in the same chart. This is because it has an improved taxation system, a fair rental market and a more reliable economy. (For clarification the city represented in Canada is Toronto and the USA is New York)
Transactions costs are smaller making Canada an even more attractive investment option. Transaction costs are inclusive of registration, real estate agent, legal charges and sales, transfer taxes. These costs are much less in Canada than in the USA, 6.96% compared with 9.07% Over 2% higher charges will make a variance when an investor tallys up their choices.
No matter which country you choose in the end, I wish you the best of luck with your investment.
