Three Canadian Cities Made The Top 10 For Worldwide Housing Affordability
Definitely not Toronto, though.
Owning a house may not be as impossible as you think. According to a new report, three Canadian cities have ranked in the worldwide top 10 for offering homes that are not out of reach for the average person. Canada’s affordable housing champions took spots alongside locations in Germany and Sweden.
Quebec City, Calgary, and Ottawa all made it into the coveted top spots on a list of 150 cities from around the globe. They took the number one, three, and nine spots, respectively.
In 2019, the average price for a house in Quebec City was just $267,125, a relatively low number when compared with real estate prices in other locations.
For Calgary, the number was $413,000. In the nation’s capital, a freehold house will typically run you about $566,846.
The report, which was created by German relocation service Movinga, also looked at other factors such as mobility, healthcare, neighbourhood safety, and air quality to determine which municipalities were the most welcoming for families.
When all of the other criteria is taken into account, the rankings change a bit. Ottawa loses its spot in the top ten, sliding down to 14. Quebec’s capital drops from its number one spot to two, and Calgary declines from three to eight. However, Montreal joins the top list, moving to number nine.
Another Alberta municipality was also recently ranked in a global top spot for housing affordability:.
In the Demographia International Housing Affordability Survey for 2020, it was determined that you only need 1.8 times the median income to buy a house in the city.
There, housing prices and population have declined due to economic impacts on the petroleum sector and the 2016 wildfires which drove people out of the city.
Of course, Canada also has a reputation for having some of the least affordable homes in the world. Those are mostly around $860,000 or $1 million, respectively.and Vancouver, where you can expect to pay
, there are homes that cost nearly one million dollars, but how those houses look (and what they include) can vary drastically.
Based on the most recent reports, if you want the most bang for your buck consider Quebec, Calgary or Ottawa.