Recently, the US business publication Forbes magazine ranked Canada the world’s best country for investment! This is incredible news that makes total sense to me. At Baker Real Estate, we continually hear from foreign condominium purchasers and investors that they are eager to move here and/or own property in what they consider one of the best places on earth.
The Forbes ranking is based on 11 categories that include property rights, technology, taxes, corruption, freedom, innovation, investor protection, red tape and stock market performance. In the most recent evaluation, Canada was the only country that ranked in the top 20 in 10 of these categories. The magazine pointed out that the conservative lending practices of Canadian banks has made them among the world’s strongest. In addition, the introduction of the HST last year in Ontario and BC had a lot to do with why Canada came ninth in the tax burden ranking among 134 countries.
On another positive economic note, according to the latest release from the Labour Force Survey, full-time employment in Canada rose by 61,000 in September. In fact, the unemployment rate is now 7.1% – the lowest it’s been since December 2008. And during the election campaign here in Ontario, Premier McGuinty reminded us that after California, our province is the world’s favourite place to invest in North America. In the future, there will be 50,000 new jobs created in the clean energy sector, and 68,000 jobs added in the creation of two-way all-day GO service.
On top of all of this, condominiums are selling like hotcakes, and our buildings are priced competitively on the world market. It all adds up to a bright future, and all the more reason to consider investing in a new condominium now!