Canada

Round Trip Transaction Costs - Canada Compared to Continent

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Canada	6.96%
USA	9.07%

 

 

Canada: Round trip transaction costs (%).

The total cost of buying and then re-selling a residential property, including all costs (except the sale price itself), expressed as percentage of the property value.

Assumptions:

• The property is purchased by a non-resident foreigner in the country where he/she is buying
• The property is worth US$250,000 (€250,000 for Europe)
• The property is paid in cash
• The property is a condominium located in a major city
• The property is not newly-built
• The property is bought from an individual and not a developer or real estate holding company.

Transaction costs can be broken down into four major cost areas:

• Registration costs
• Real estate agent fees
• Legal fees
• Sales and transfer taxes

Other incidental costs (survey fees, residency permit cost, or company setup costs), are not included in our calculations. In most cases value added tax (VAT) is not included, because our figures reflect the purchase of old, not new, properties.

Costs paid by buyers and sellers vary widely. Agents’ and lawyers’ costs are often negotiable. Buyers of expensive properties often pay proportionately lower agents’ fees. For the full spectrum of possible transaction costs see the Country | Buying Guide.

For fuller details see the Data FAQ.

Source: Global Property Guide Research

 

Canada has some of the best housing data in the world. Statistics Canada releases a monthly house price index. The Canadian Mortgage and Housing Corporation (CMHC) has statistics on median house prices (MLS), housing construction activities and rent. CMHC’s Housing Market Outlook and Rental Reports summarize this data. The Canadian Real Estate Association (CREA) produces forecasts of house sales activities. Scotia Bank reviews current developments in the real estate market.

General economics statistics are available from the Reserve Bank of Canada. There are also weekly updates of economic trends from the Bank of Scotia.