With so many people moving to Canada, the housing market has gotten a boost. More and more immigrants are purchasing a home when they move there. It isn’t just those who are new to the country either. Immigrants that moved to Canada as far back as 10 years ago are just getting around to purchasing homes of their own now.
In fact, 1500 of them have been living in the country for 10 years and each moved for different reasons. The influx of immigrants includes students, refugees, and people who are only living in Canada for work purposes.
A survey was done of these 1500 people. Only 32% of them currently own a home in Canada. Of that 32%, the majority of them didn’t find a house to purchase until they had been living in Canada for three years.
Yet, 86% of the people surveyed recognized what an investment buying a home in Canada is. Of those who responded to the survey, 75% of them arrived in the country with some money saved up to purchase a house.