On a recent trip back to my homeland of Canada, I was instantly reminded of what a beautiful, remarkable country I come from, not only are the people kind and down to earth but the surroundings still retain a natural exuberance that seems to restore the calmness of the soul and provide peace of mind. Since I am a part of the luxury real estate industry in Europe, while on my visit and in conversation with family, friends and locals, I asked questions about the property market in general and started to read up on many recent industry and economic reports.
It was interesting to discover that owning a property or even a second home, still seems to be beneficial in many regards beyond being an investment opportunity with a more positive outlook held by many in Canada since stronger and more defined real estate regulations have come in through various government officials. These newer regulations, especially in British Columbia, has led to better guidelines and protections making it fair for not only those who live in Canada and own or plan to purchase real estate but also for those looking to invest in the property market from overseas. Since I had spent a significant part of my life in downtown Vancouver, British Columbia and being more familiar with this western part of the country, I started to do some research and have found that the Okanagan region of British Columbia is one of the most viable and best locations in the country for my European and Asia clients to invest in the real estate market so this is where the journey will be starting in the promotion of properties in Canada.
With that, more in depth research was done and after meeting various top luxury real estate agents and learning more about the agencies they represent and practices in the region. I’ve been fortunate enough to set up legal brokerage partnership agreements while on my visit with a select group of those in the real estate industry who I know to have the same passions, ambition (even obsession) and love of properties on the market and who will also adhere to the ethics I believe such as honesty, integrity and complete discretion when it comes to my UHNW clientele base. The Okanagan region is an absolutely spectacular part of Canada that must be experienced. This is a true year-round travel destination that is in keeping with the stunning natural surroundings and pleasantly not over developed with a strong tourism draw that continually attracts visitors from around the world.
In the summer there are endless activities to participate in at Okanagan Lake which is also the largest body of water in region. Close by is Wood Lake and next to it is the clear, turquoise and warm, blue waters of Kalamalka Lake that stretches all the way to the city of Vernon and they all offer the opportunity for water sports such as: boating, swimming, fishing, kayaking and jet skiing, etc. There are also numerous hiking and biking trails and of course the golf courses and private clubs are plentiful.
In the winter the outdoor activities continue with many top ski resorts located close by for all ages to enjoy.
Wineries are also a huge attraction for many and there are any number of award-winning vineyards to explore, including wine tours one can take, wine festivals or go on a leisurely weekend trip and discover the numerous varieties of wine and craft beer companies on your own and don’t forget to try the many gourmet restaurants with splendid organic options from locally grown farms and orchards.
Along the waterfront of Okanagan Lake are the cities of Kelowna and Pentiction intermingled with smaller towns such as Summerland. All of these lakeside locations offer the most amazing luxury homes and are available in a number of architecture designs such as classic Tudor style to the ultimate contemporary masterpiece. If it’s complete privacy you are after, that can also be found along the lakes, or high up in the mountains offering breathtaking vistas over many a mountain landscape.
Wondering how to get to the Okanagan? Flights are available daily from all parts of the world and getting around in general is very easy to do. Property price ranges in this part of the British Columbia average from $150,000 Cdn for a studio apartment to $14,000,000 Cdn for the ultimate private villa but the difference in Canadian currency is the US, Pound and Euro currencies are consistently far higher in value (and have been for over a decade if not at par) against the Canadian dollar which means you can get more for your real estate investment in the country.
Here are just a few benefits from purchasing a property as provided by the Government of Canada: If a Canadian were to visit the EU, they are only allowed to stay up to 90 days without having to acquire a long-term visitor visa before travel. But foreigners who plan on spending less than six months a year in Canada can keep a home here without having to apply for residency.
If a foreigner does choose to stay longer, they can apply for a long-term visitor visa or the Canadian Residency Permit which is straightforward and depending on circumstances usually a far easier and quicker process than other countries, especially if it means investment opportunities in the country. *We have certified professional consultants on hand to help with visitor or immigration request.* How much tax do you pay when you buy a house in Canada?
This may be called a “land transfer tax,” a “deed registration fee,” a “tariff” or a “property purchases tax.” The cost is a percentage of the home's purchase price; for example, if your land transfer tax is 1.5% and your home cost $300,000; you'll pay $4,500 Cdn.
Can a non-Canadian buy a house in Canada?
Anyone from any country is welcome to buy a home in Canada without any restrictions on the real estate you desire to obtain. It is important to note that from April 21, 2017, Canadian non-residents are required to15% Non-resident tax speculation on the purchase price of the real estate.
Overall Reasons To Consider Canada
1. The people. Canada is very accepting of everyone and a totally multicultural country.
2. Space and lots of it. With an area of 9.985 million km2 and every type of landscape imaginable.
3. Lifestyle. Whether it is in the city or at a small town. There is always a sense of community with a strong work/life balance. People just seem happier in general.
4. Safety. Canada is viewed as a safe haven and is ranked 8th out of 162 of the safest places to be in the world.
Our professional real estate partners along with my team can also answer any general questions you may have and can easily point you in the right direction for lawyers, notaries, etc.
For more information to make everything as efficient as possible for you personally or your company interests, we continue to build up local business, government and community partnerships for ease of transitions. And keep in mind, we can have property rentals available and leading hotels we work with for your stay while you find your next home.
Canada is a young and dynamic country, vast in its landscapes from sea to sea. The country is known worldwide for being very diplomatic and a multicultural home and destination for all to enjoy. Whether it be a second home, plot of land to develop, private retreat, vineyard, property investment in a village, by a lake, secluded or in the city. We have an expansive number of real estate options for you to choose from, just let us know what you require. If you would like any other information on what Canada can offer, along with properties we have available on the market, please contact: Info@TheFind.Life