Housing & Property in Canada

The rental market is in strong supply, with rising vacancy rates as more and more tenants switch to mortgaging a home in the current favourable climate. This leads to all sorts of incentives for tenants to rent. Temporary accommodation can be found while searching for a rental.

Rental properties can be found through a variety of means including the newspapers, internet, word of mouth or through signage. Most are direct rentals, but some will be done through a real estate agent. Free rental newspaper boxes can be found in most cities. Rentals in the Toronto area start from around 500 Canadian dollars a month. Leases are generally for 12 months, and while water is usually included, other utilities may not. A security deposit of a month's rent is usually required in advance. Those on a tighter budget can look into shared accommodation or subletting.

Buying property in Canada is easy and is open to permanent residents who have lived in Canada for at least 6 months. Limitations for non residents exist in Saskatchewan (10 acres) and Alberta (20 acres) and is not allowed in Manitoba. In Prince Edward Island, approval from the Provincial Regulatory and Appeals Commission is needed for non Canadian Residents to purchase property over a certain size limit.