Since the election of the United State’s 45th President Mr. Donald Trump, there has been a significant increase in Canadian real estate inquiries from our neighbours south of the border.
Royal Lepage released stats indicating that searches on their websites had increased 329% a day after the election. Other sources have released stats that interest in CAD Real Estate by Americans has increased by 70% in general since this time last year.
What does this mean?
Banks, trust companies, and especially private lenders are soon going to be seeing more and more foreign buyer applications, and they need to be ready for it. Products catered specifically for Americans buying in Canada are available.
Due to the vast size of the American population, even a small portion of Americans interested in buying in Canada could result in a profound effect on our real estate market.
We are ready for these new buyers and borrowers, and encourage you to reach out to us if you know someone looking to buy and may require mortgage financing.
We are happy to help and to answer your questions. Give Karen a call, 604-726-9550 or email me at Karen@citywidemortgage.ca