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Canada ripe for investment
With almost 10% growth in 2006 and a budding rental market, Canada is ripe for investment, claims Assetz...
Canada is being tipped as the next big thing for canny property investors, with capital gains of 9.4% a year, growing demand for rental accommodation and relatively cheap property compared with the UK. Assetz launched its specialist Assetz Canada division on the 1st January 2007 to cope with increasing demand for British investors looking to capitalise on rental opportunities.
Fast becoming one of the most popular holiday destinations in the world, with world class skiing and outdoor pursuits, Canada has been voted ‘best place to live’ several years running by the United Nations. British ski tourists in particular are driving demand for rental accommodation in British Columbia and Mont Tremblant, as a result of new low cost flights from chartered airlines costing as little as £70 one way to Vancouver and Calgary.
The ski season in Canada lasts from November until June, making it considerably longer than the European season, and several resorts have their own snow making facilities which help ensure the year-round presence of holidaymakers. It is also fast becoming an internationally-recognised golfing destination.
Canada has an interest base rate of 6% and with mortgages available at 0.85% or more below this rate, providing investors with mortgage rates as low as 5.15%. Even as a non-resident of Canada, mortgages are available for at least 65% of the purchase price.
Martin Sadler, Sales Manager of Assetz International, commented: With one of the longest ski seasons in the world and a wide and varied range of summer activities, Canada is truly a year-round global destination. Prices are still considerably cheaper than in most other mature markets, with a typical one-bedroom ski apartment costing around £150,000. Strong capital gains, low interest rates and growing demand from the British holiday market are ensuring Canada makes an impact on British investors looking for affordable growth property."
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