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Jas Takhar On Toronto’s HOT Property Market And Canada’s Immigration Boom

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Toronto’s housing market has boomed during the lockdown, but there is still a massive shortage of homes, which will get worse as Canada opens the doors to 400,000 new economic migrants every year.

In this week’s Money Tips Podcast, I interview Toronto native, Jas Takhar, co-founded the REC and real estate firm Royal LePage.

Jas, who runs one of the leading real estate companies in Canada and is the author of the book Real Estate Intelligence, pointed out that around three times more homes will need to be built to accommodate new arrivals as well as fast-growing local demand in a hot property market.  

Key Takeaways:

  • Property prices in some parts of Greater Toronto Area grew by 36% last year 
  • Jas believes the downtown Condo market is under-priced right now
  • Jas puts out 20 pieces of content on social media every day
  • Jas podcasts and was a guest on over 69 podcasts last year
  • Most salespeople fail to follow-up on prospects
  • Mortgage rates from as 1.6% fixed for 5 years
  • Canada will recruit 400,000 immigrants a year
  • Strong underlying economy

Canada has been a popular destination for migrants from all over the world including Hong Kong, India, The Philippines, Africa and European countries. This is due to a number of factors, such as Canada’s strong economy, migrant friendly policies and healthcare, but especially because their route to permeant residency and Canadian citizenship is so much faster easier than in other countries.  

The UK is also opening up new immigration routes post-Brexit having abandoned former Prime Minister David Cameron’s 2010 target of cutting net migration to the “tens of thousands”. 

UK lockdown slowly coming to an end giving hope to a battered economy.

See also:

Immigration Rule changes opens door to recruit overseas health and senior care staff to work in the UK

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