Brook Hall is a real estate scavenger who looks or value for your investment..here is her article.
Canadian Confidential: The Maritimes Project Series 1, Part 3
By Brooke Hall
Over the past few years, Canada has been looking much more attractive to potential investors, retirees and companies. But why?
The blossoming, beautiful and mostly ignored girl-next-door, Canada has begun turning some heads.
And strangely enough, with such gorgeous and immense scenery, Canada warmly welcomes and graciously accepts more immigrants per capita annually than even the Untied States. And even more so than the US, Canadians seem to view their culture to be shaped by immigration.
How to Play a Part in Canada's Growth
Buying real estate, even if you plan on keeping your US citizenship, is easier than ever.
If you plan on only residing in Canada for less than 6 months each year, you can open a bank account and buy real estate in most Canadian provinces. (But if you plan on living there for more than 6 months in a year, you must apply for Immigration Status.)
Moreover, Canada especially encourages potential investors and in order to help this along, the government has instituted certain tax breaks and incentives for foreign investors.
In the past 5 years Canada has outdone the US by recording an inflation rate of only 2.2%.
And if you're not listening yet, better perk up!
The OECD (Organization of for Economic Co-operation and Development) estimates Canada's growth to average 3.1% over the period of 2004-2006, the leader among G7 members.
According to a report released November 2, 2005, employment in Canada has jumped by an est. 69,000 in October of this year, while the unemployment rate dipped to 6.6% (the lowest in 3 decades).
With the hourly wages of employees increasing by 3.9% over the past year, Canada's boom time is approaching.
The most growth in October 2005 happened among the private sector employee rate (+59,000), hitting a whopping 97,000 since the start of the year.
But even more intriguing, the same 10 month period has seen self-employment grow by 87,000 (+3.5%).
With lower overall business costs, Canada's labor costs range from about 20-24% lower than that of the US.
And that's not all-Canada's construction and electricity costs are anywhere from 8-22% cheaper than the US.
With a world class infrastructure, the lowest wireless communication costs, a positive (and ethical) business climate, a lower cost of living, untouched landscapes, friendly and honest people, extremely low crime rate, no estate or death tax-Canada's looking mighty attractive.
Why Nova Scotia?
This province, nestled between the mainland (New Brunswick) and the North Atlantic Ocean, is an undiscovered northern paradise infused with Irish, English and Scottish history, not to forget Native Indian and French Creole cultural remnants.
In fact, the well-known Creole cuisine (that Louisiana is so famous for) has its true roots in Nova Scotia.
It was later when the English came to dominate the territory that the French culture and its people were forced to emigrate elsewhere-and ended up establishing themselves in Louisiana and throughout the Caribbean.
Nova Scotia was the home of both the French Acadians and the Mi'kmag Native Indian tribe. And if you listen closely enough, you'll hear the unmistakable sound of a Scottish bagpiper or maybe even catch a glimpse of the unifying dances of the Mi'kmaq sweet grass rituals, an inspiring custom of this province's oldest inhabitants.
The dynamic interplay between all of these astonishing multi-culture elements now graces Nova Scotia with a delightful blend of histories and traditions.
The sea-coast traditions from so many old world cultures add spice and character to this hidden paradise; legends of pirates and other mystical entities are just some of the threads that create the patchwork of this enchanting culture.
Nova Scotia has so much to offer: low cost of living, inexpensive real estate, unspoiled land, generous (and honest) people, lifestyles to suit every liking and famous residents including Paul Simon, Demi Moore and Jack Nicholson, just to name a few?.
What I began to notice as I traveled north towards Cape Breton, was that Nova Scotia was experiencing, at this very moment, the Bust side of the economic cycle. This bust cycle is ready to boom.
And every savvy investor waits for that bust time so that they can reap the benefits of the Boom.
A recent report was released by Nova Scotia Department of Tourism, Culture and Heritage forecasting Nova Scotia's tourism industry.
After assessing the decline in tourism since 2003, they went on to say "a report released in late 2004 entitled Long-Term Trends and Cycles in Canadian Tourism suggests that tourism activity follows a ten-year cycle, with peaks and troughs that mirror and exaggerate the Canadian business cycle??If the cycle persists, we should be at the start of a broad-based recovery that will see record growth over the next decade."
In March of 2005, RBC Financial Group released a provincial economic forecast indicating that "healthy job numbers and strong fiscal performance will boost Nova Scotia's economic growth to 2.4% in 2005 and 2.8% in 2006."
The report goes on to assert that "'Nova Scotia's economic outlook continues to build on the momentum generated in the second half of 2004,' said Craig Wright, vice-president and chief economists, RBC."
Interestingly enough however, the housing market in Nova Scotia appears "to have reached a plateau."
So, the Canadian economy (and tourist industry), employment, and wages are all beginning their rise, all while the housing industry stays at a steady pace.
All I can hear from the voice in the back of my head is?BUY, BUY, BUY.
How Does a Non-Resident Buy Property in Canada?
Again, buying real estate in Canada is simpler than it may seem.
There are so many ways in which you can go about buying property in Canada, so many different status categories you can apply for, and different tax stipulations (and more importantly, tax loopholes).
Due to an overwhelming response of Wealth Daily readers inquiring to know more about Canadian land, real estate companies and investment opportunities, I will be releasing a Full Report Canadian Confidential: The Maritimes Project within the next 2 weeks here on Wealth Daily.
This report will offer a serious overall scope on the Atlantic Provinces, why they seem so alluring, how to buy property in Canada without losing American citizenship, how to invest and protect your dollars in Canada, how to immigrate to Canada, and how Canada is the most unheard of Tax Haven, not to forget my personal recommendations for real estate companies in Canada that are selling land for pennies on the dollar.