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It turns out Canada's house prices aren't too bad

9/29/2017 | Posted in Real Estate Market by Michael Antczak | Back to Main Blog Page

Canadian Real Estate Markets

While plenty of homeowners, potential homeowners, and experts will disagree, Canada’s homes are not as expensive as we may think.

While affordability remains a huge issue, when put into a global context Canada is far from the most expensive.
CENTURY 21 Canada has surveyed 75 cities in 27 countries and compared the average-price-per-square-foot (APPSF).

Most expensive is Hong Kong where the average single-family home in Kowloon costs C$3,570 per square foot; followed by Beijing at $1,005.31 and Shanghai at $955.39.

For condos, Hong Kong also leads at $2330.80 followed by Al Khobar (Saudi Arabia) at $1,479.92 and San Francisco at $1,454.57.

By comparison a single-family home in West Vancouver would cost $824.47 per square foot with a downtown condo at $1,172.80. In Toronto, a downtown condo costs $833.20 per square foot.

"Canada's housing market has attracted much attention over the past few years. These numbers show just how we rank on a global scale," says CENTURY 21 Canada Executive Vice-President Brian Rushton. "While prices are no doubt expensive, we really rank in the middle of the pack when compared to other global cities." 

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