A large share of new immigrants are home buyers within their first five years of arriving in Canada. This vibrant segment of our cultural mosiac are more interested in home ownership than the non-immigrant population.
Many if not most of the immigrants to Canada come equipped with education, jobs and often funds to start their new life. Home ownership is a principal goal for many of them who come from countries where land and the value of land is deeply ingrained in their belief system.
Within five years, approximately 50% of immigrants have landed a property and are laser focused on building equity for themsellves and their families. With the flood gates of immigration in Canada not yet fully at 100%, it will be interesting to see the impact immigration will have on an already red hot real estate market.