View Full Version : Property investment - Canada Townhouse
Last week, I met my former colleague who emgrated to canada 20 yrs ago.
She is asking to me invest in Canada Townhouse . She works for Sun life Financial as a advisor. Her sister is in the real estate biz in canada for 20 yrs.
She earns est CAD$200k/yr plus. She is being tax @55% of CAD$200k+. But medical fee FOC & other benefits. She is driving a Toyota Lexus which cost est CAD$30k.
She is also asking me to apply for a PR in Canada & work with her as a advisor. She told me it is not difficult to get a PR if I can speak/write English & hv some money.
The townhouse (1300psf excluding basement - 3 bedrm) price est around CDA$400k to $500k at good location. Rental est CAD$1500 to CDA$1800. Maintenance fee/mth est CDA$120. Property tax est CAD$150/mth. Real estate in Canada is good for long term.
I am thinking of buying a property for investment. Still search for any hidden cost which may end up a BAD decision.
rdgs,
Vic
Last week, I met my former colleague who emgrated to canada 20 yrs ago.
She is asking to me invest in Canada Townhouse . She works for Sun life Financial as a advisor. Her sister is in the real estate biz in canada for 20 yrs.
She earns est CAD$200k/yr plus. She is being tax @55% of CAD$200k+. But medical fee FOC & other benefits. She is driving a Toyota Lexus which cost est CAD$30k.
She is also asking me to apply for a PR in Canada & work with her as a advisor. She told me it is not difficult to get a PR if I can speak/write English & hv some money.
The townhouse (1300psf excluding basement - 3 bedrm) price est around CDA$400k to $500k at good location. Rental est CAD$1500 to CDA$1800. Maintenance fee/mth est CDA$120. Property tax est CAD$150/mth. Real estate in Canada is good for long term.
I am thinking of buying a property for investment. Still search for any hidden cost which may end up a BAD decision.
rdgs,
Vic
Hasn't the property price of Canada increased as much as that in Singapore?
Hasn't the property price of Canada increased as much as that in Singapore?
1996 was the peak for Toronto real estate. In 1996, the condo price was CAD$260k. She bought @CAD$130k . The price now is est CAD$250k. According to her sister, it is still worth buying for long term.
I think the CAD$1 = S$1.45 in the 90s. Now it is CAD$1=S$121.
The real estate in Canada has been stablilized after the gov implement cooling measure according to my friend. I did not ask her in detail as she got to rush back to M'sia to visit her mother.
Just want to find out more about Canada real esate.Must be very careful when invest oversea. I do not want to put all my investment in SG. So try to find out more here if anybody has experience investing in Canada real estate.
rdgs,
Vic
What are the cooling measures over there? Any capital gain tax? What is the mortgage rates and rental income tax?
What are the laws governing TA? I know of some european countries whereby it is almost impossible to kick out tenant even if he/she default in rental.
1996 was the peak for Toronto real estate. In 1996, the condo price was CAD$260k. She bought @CAD$130k . The price now is est CAD$250k. According to her sister, it is still worth buying for long term.
I think the CAD$1 = S$1.45 in the 90s. Now it is CAD$1=S$121.
The real estate in Canada has been stablilized after the gov implement cooling measure according to my friend. I did not ask her in detail as she got to rush back to M'sia to visit her mother.
Just want to find out more about Canada real esate.Must be very careful when invest oversea. I do not want to put all my investment in SG. So try to find out more here if anybody has experience investing in Canada real estate.
rdgs,
Vic
I can say the same for Singapore property market. Government has stablized the market by implementing many cooling measures and maybe still worth buying for long term.
I thought you have been telling us to buy/invest after a big crash? Why suddenly looking to invest overseas property now?
I think the CAD$1 = S$1.45 in the 90s. Now it is CAD$1=S$121.
:eek::eek::eek::scared-1::scared-1::scared-1: WOW
Canadian Dollar equals 1.21 Singapore Dollar :p NOT SGD121
1996 was the peak for Toronto real estate. In 1996, the condo price was CAD$260k. She bought @CAD$130k . The price now is est CAD$250k. According to her sister, it is still worth buying for long term.
I think the CAD$1 = S$1.45 in the 90s. Now it is CAD$1=S$121.
The real estate in Canada has been stablilized after the gov implement cooling measure according to my friend. I did not ask her in detail as she got to rush back to M'sia to visit her mother.
Just want to find out more about Canada real esate.Must be very careful when invest oversea. I do not want to put all my investment in SG. So try to find out more here if anybody has experience investing in Canada real estate.
rdgs,
Vic
I can say the same for Singapore property market. Government has stablized the market by implementing many cooling measures and maybe still worth buying for long term.
I thought you have been telling us to buy/invest after a big crash? Why suddenly looking to invest overseas property now?
I suggest those marginal property buyer who got 300k to 500k better not into property as there are simply to many CMs + increase in tax + poor rental yield + ABSD. It will be good for them to patiently wait for a big crash on stock mkt. I hv gone through 97/98 & 08/09. Whatever U earn in the past 6 to 8yrs can be easily wipe out within mths + more losses if everybody has a herd investment mentality. Look at Gold, Crash 13% within 2 days. It can happen to stock/bond. It is just a matter of when.
If I am not experience in investing. i think I would rather lose the 3-4% inflation every yr than to blindly buy & lose all the 10 yrs hard earn money due to the crisis.
Got do to homework 1st.
I got to ask & find for more info
Then I got to check again the accuracy of the info
With all the info. Then I can plan.
Plan can change with mkt condition & Not neccesary will execute.
I am here to find out more as a alternative source of investing. It can be M'sia ,Japan. Taiwan , USA etc. It happen that my former colleague from Canada talk about Canada real estate. It just make me feel I did to find out more.
rdgs,
Vic
What are the cooling measures over there? Any capital gain tax? What is the mortgage rates and rental income tax?
What are the laws governing TA? I know of some european countries whereby it is almost impossible to kick out tenant even if he/she default in rental.
I will be meeting for former colleague again on Sunday after visiting her mother in M'sia. By sharing, I am also learning myself. I hv no other intention except to share among all of U. It can be good or not good.
rdgs,
Vic
I will be meeting for former colleague again on Sunday after visiting her mother in M'sia. By sharing, I am also learning myself. I hv no other intention except to share among all of U. It can be good or not good.
rdgs,
Vic
Looking forward to your sharing again.
Quite lazy to write, but for cbsh38584, must contribute my :2cents:
1. There are only two cities in Canada you can touch, Toronto and Vancouver with more rich people, more employment and higher population.
2. There is not so much interest from China into Canada as compare to London and NY.
3. A very slow place, people generally are more easy going life style.
4. Very cold weather.
5. People migrate there mainly due to children education, ie no Chinese and easier life style
6. high personal tax and there are many types of taxes
7. management of properties is not easy
If you ask me, I would take London and certain cities in Texas, I find there is of better potential.
proud owner
17-04-13, 22:12
Quite lazy to write, but for cbsh38584, must contribute my :2cents:
1. There are only two cities in Canada you can touch, Toronto and Vancouver with more rich people, more employment and higher population.
2. There is not so much interest from China into Canada as compare to London and NY.
3. A very slow place, people generally are more easy going life style.
4. Very cold weather.
5. People migrate there mainly due to children education, ie no Chinese and easier life style
6. high personal tax and there are many types of taxes
7. management of properties is not easy
If you ask me, I would take London and certain cities in Texas, I find there is of better potential.
hi Laguna
can u share with us ... why Texas ?
hi Laguna
can u share with us ... why Texas ?
You buy me a drink?
Difficult to type on small form device, carry on when i on the machine next time.
Watching DVD now
proud owner
17-04-13, 22:29
You buy me a drink?
Difficult to type on small form device, carry on when i on the machine next time.
Watching DVD now
sure i can buy u a drink
i am back in spore
Shale gas revolution:p
(http://en.wikipedia.org/wiki/Shale_gas)
Quite lazy to write, but for cbsh38584, must contribute my :2cents:
1. There are only two cities in Canada you can touch, Toronto and Vancouver with more rich people, more employment and higher population.
2. There is not so much interest from China into Canada as compare to London and NY.
3. A very slow place, people generally are more easy going life style.
4. Very cold weather.
5. People migrate there mainly due to children education, ie no Chinese and easier life style
6. high personal tax and there are many types of taxes
7. management of properties is not easy
If you ask me, I would take London and certain cities in Texas, I find there is of better potential.
Thank. I will find out more from my friend.
rdgs,
Vic
I shared the same view la but don't wish to pour cold water.
If he is thinking about staying there for retirement then that is OK to buy property in Canada for own stay.
Quite lazy to write, but for cbsh38584, must contribute my :2cents:
1. There are only two cities in Canada you can touch, Toronto and Vancouver with more rich people, more employment and higher population.
2. There is not so much interest from China into Canada as compare to London and NY.
3. A very slow place, people generally are more easy going life style.
4. Very cold weather.
5. People migrate there mainly due to children education, ie no Chinese and easier life style
6. high personal tax and there are many types of taxes
7. management of properties is not easy
If you ask me, I would take London and certain cities in Texas, I find there is of better potential.
I shared the same view la but don't wish to pour cold water.
If he is thinking about staying there for retirement then that is OK to buy property in Canada for own stay.
Thank for your input.
I went to Aust Gold coast last yr. The Australian Chinese shop owner told me not to buy property in Aust for investment. For stay, it is OK.
rdgs,
Vic
sure i can buy u a drink
i am back in spore
when?
we share over drink...
can I invite some others as well....everyone just bring a bottle
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