Toronto real estate reported rapid gains in average sale price over the last six years, with a steady upward trend originating earlier in the new millennium. If current sales figures hold true for the remaining two months of 2016, Toronto real estate could see gains around 14 percent in the average sale price over 2015. The average sale price for the year-to-date in October stood at $725,857, well over last year’s average of $622,123. With such gains, it’s no wonder international buyers are attracted to investing in Toronto.
The process for international buyers looking for the ideal Toronto property is simple. Start searching a property database. Juwai.com is an international property listing, or interested investors can search at the Realtor.ca website. Barrycohenhomes.com is excellent for a luxury-focused listing website. Another option is to attend a Toronto real estate seminar hosted by Toronto realtor in major cities across the globe.
International buyers need a local real estate agent experienced in handling transactions for overseas clients. There are certain requirements unique to the Canadian and Toronto marketplace in place for foreign buyers, such as down payment regulations for mortgages or reporting of land transfer tax for sellers. The best agents know both ends of the process for buying and selling Toronto real estate on behalf of international clients.
If you wish to see the property, it’s easier than ever to take a virtual tour. Some properties have online 3D tours available. Real estate agents can provide property video tours over international services like Skype and WeChat.
Once the right property is identified, authorize the representing real estate agent to make an offer. In Toronto, it’s essential to have financing in place as the luxury property market is competitive.
Overseas investors from various countries trust Barry Cohen’s experience in negotiating the buying or selling of luxury Toronto properties. He intimately understands what neighborhoods appeal to certain buyers and how the nuisances of properties impact a home sale. Contact us to set a listing appointment with Toronto’s top agent for luxury properties.