RLP Maximum Explores How Immigration Is Great For Sale Of Luxury Real Estate

Woodbridge, ON based RLP Maximum is reaching out to their community to share insight on the effect that immigration has on local real estate. Immigration is fundamental to the strength of Toronto’s real estate market, according to a recent article by Forbes. Canada welcomes nearly three times as many immigrants as the USA on a per capita basis. This means Canada opens its doors to about 340,000 immigrants every year. Even with the COVID-19 crisis, Canada has continued to allow a steady flow of newcomers into the country, and this has had a positive effect on the country’s economy.

“Immigration is a key contributor to the strength of Toronto's real estate market,” says the Forbes article. “As the population in the Greater Toronto Area (GTA) and surrounding regions increases, so does the demand for suitable housing. A recent survey by Royal LePage indicates that new Canadians will drive up housing demand in the GTA, as the region continues to be one of the most desirable locations in Canada. Though increased demand means that housing prices are heating up across the board, lowered interest rates and increased flexibility on the mortgage lending front has improved accessibility to the GTA's real estate market for first-time buyers.”

This creates healthy tension between supply and demand within the residential real estate sector, especially the multifamily segment. The Canadian multifamily market is the most robust it has ever been, according to CBRE’s Canadian Multifamily Mid-Year Update for 2019. Vacancy rates are very low, and rental rates have increased across the Toronto area. Even with COVID-19 having brought world economies to a near standstill, Canada is expected to remain an attractive destination for immigrant families. Over 30,000 candidates have received invitations to apply for Express Entry to Canada so far this year, and over 3,900 have received an Invitation to Apply (ITA) over the past few weeks. Immigration is good for the real estate industry—and immigrants are expected to continue coming in.

With the real estate industry in its current state, aspiring homeowners may be looking for a reliable real estate brokerage service. Royal LePage, otherwise known as RLP, is committed to helping every Canadian find their dream home in their dream community. The company’s real estate property listings cover homes all over the Greater Toronto area.

“We understand that people aren’t looking to purchase a property, they are looking for a home,” RLP says. “They are looking for a safe, clean and exciting place to set down roots—maybe permanently, maybe temporarily—and are making one of life’s biggest financial decisions at the same time. We also understand that navigating the world of Canadian real estate is never as simple or as straightforward as it might appear on the surface.”

Founder AE LePage created the brokerage in 1913 with a serious commitment to supporting his community, helping his friends and working side-by-side with his new neighbours. He understood the need for real professionalism in the field, and it was with this spirit that his real estate company was able to pioneer so many industry firsts. The company’s modern experts are carrying on with the tradition LePage established and continue to help people find luxury homes for sale.

“We were some of the first realtors to use virtual tours, create websites and leverage the power of the internet, and we are blazing new frontiers today to help our clients buy and sell homes throughout Canada, too,” the brokerage says. “Though our company name has been afforded a sterling silver reputation throughout Canada, we recognize that it is not our company that has earned this reputation but each and every one of our individual real estate agents.”

The brokerage has received a number of great reviews from many of their clients. One Google review praises the firm’s service, stating, “I love the location, and the friendly service you get is always a pleasure. I've always been greeted with a fantastic cup of espresso and lovely girls over at the reception always willing to give a helping hand.” Another client shares that the firm has a, “Great office vibe and great staff, including all home buying services. Your one stop shop for your realty needs.”

Anyone looking to purchase a home in the Greater Toronto area can search real estate on the RLP Maximum site. They may reach out to RLP Maximum’s customer service team for further assistance as well.