Canada tipped as overseas property hotspot
Monday, 8 January 2007 12:00 AM
Investors looking for an overseas property are being urged to consider buying a home in Canada by a leading international property group.
Assetz launched a specialist division on January 1st 2007, Assetz Canada, to deal with increasing demand for Canadian property following a 9.4 per cent growth in house prices last year.
Growing demand for rental accommodation and cheaper property prices than the UK have led to more interest from UK buyers, particularly from British ski tourists looking for property in Canada's winter resort destinations.
New low cost charter flights costing £70 each way to Vancouver and Calgary have also boosted interest in properties in British Colombia and Mont Tremblant.
Canada's status as the United Nations' best place to live for several years running also adds to the countries strong prospects for UK property investors.
"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," explained Martin Sadler, sales manager of Assetz International.
"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."
Overseas property in Canada: property facts
Interest rate - Six per cent
Mortgages - At least 65 per cent of the purchase price can be covered with a mortgage for non-residents, with the lowest mortgage rate at 5.15 per cent
Ski season - November to June
Other holiday activities - Fast-becoming an internationally recognised golfing destination
Assetz Hotspot - Fernie ski resort, British Columbia, in the Rocky Mountains
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