Canadian real estate: the benefits of creative construction
Real estate in Canada is interesting in terms of income generation. Investors in many countries are entering the market, and first of all they pay attention to the originality of objects, the approach of local architects and engineers to the construction of buildings. The projects perfectly combine functionality and style, and are an example of modern ideas in real estate.
The Canadian market is rich not only in office buildings and shopping malls with bold designs. Residential buildings here are no less original. Industrial objects also differ from the standard faceless structures for this segment.
Modern construction technologies have also left their mark on private property, and in Canada objects are devoid of any pathos – here every detail is thought out in terms of functionality and use of each square meter. Special attention is paid to energy efficiency, environmental friendliness and social components.
The concept of creative construction has been applied in Canada for 50 years. During this period, a huge number of projects have been implemented, which can be rightly considered masterpieces of architecture. Thanks to this approach, Canadian cities have an individual appearance, and some of them have become a real platform where engineers and architects implement their most crazy ideas. The program of real estate market modernization in the country includes not only objects, but also infrastructure – parks, administrative buildings, ports and stations.
This variety has caused high prices for housing and commercial premises. However, their cost is justified – all the objects are made of quality materials and under strict government control, which ensures the safety of buildings.
Investments into the Canadian real estate market are profitable. Rental rates are high, which will allow investments to pay off quickly and make a profit.
Despite the country’s prospects, there are some difficulties in this segment as well. In some regions there is a high vacancy rate. Houses in Toronto and Burlington are in the most demand; here the index of vacant objects is 1.6%. In Ajax free – 1.5% of the total number of properties.
Mostly vacant are apartments and houses located in the center. People move to small cities, where housing is cheaper.
In order to reduce the percentage of empty houses in Vancouver, introduced a tax. This tax is accrued in case the housing is left vacant for the most part of the year. The tax is a percentage of the value of the property and is charged for the whole period of idle time. Such measures have yielded results, and the number of problem dwelling has decreased by 15%. This way of fighting against vacancy in the sector only partially saves the situation, so the government is trying to find the best option to improve the market situation.