Ever had a client from outside of Canada? How about helping a client sell their home so they can relocate to another country? The Canadian real estate market is interconnected with markets around the world, and that’s where CREA Global comes in.
To help REALTORS® gain a better understanding of international activity, the Canadian Real Estate Association (CREA) recently released its 2024 Profile of International Activity in Canadian Real Estate, which shares information with REALTORS® about international purchasing and selling trends as they pertain to Canadian real estate.
According to the report, 7% of REALTORS® report having worked with international clients in Canada, and 2.5% report clients who are looking abroad. Of those who had clients moving out of Canada, 47% of REALTORS® report referring them to a REALTOR® abroad.
Here’s a peek at some of the other insights the report unpacks:
The data shows Canadians who are looking for properties outside of Canada are most often looking for a vacation home, investment opportunities, or both. The most popular destination is the United States, with the most popular state being Florida – a trend we’ve seen for some time. Other popular countries include Mexico, Portugal, and Costa Rica.
International buyers in Canada are looking for something different, though. 63% of recent Canadian immigrants or temporary visa holders are looking to buy a permanent residence.
With CREA’s Global Affiliates Program we bridge the gap between qualified Canadian and international REALTORS®, and the expanding market opportunities within Canada and across the globe. In an ever-evolving real estate landscape, it’s imperative for REALTORS® to stay ahead of the curve. Join CREA Global today!
The report shows that international interest in Canada was highest from these countries:
- United States of America
- China
- India
- Hong Kong
- France
According to the report, international buyers are most interested in these provinces:
- Ontario
- British Columbia
- Alberta
- Quebec
- Nova Scotia
The report also investigated international commercial real estate, highlighting the top countries investing in Canadian commercial properties:
- China
- United States of America
- Germany
- India
- South Africa
Find more trends and an in-depth analysis of what’s trending in international real estate in the report.
There are plenty of other opportunities for REALTORS® through CREA Global and the CREA Learning Hub, including professional development to help build your business on a global scale.
