Canadian market 'ripe for investment'

The Canadian market is well-placed for property investment and could benefit from the beginning of a global economic recovery, it has been claimed.

As a growing number of bodies begin to suggest the worst of the recession could be over in many countries around the world, it has been claimed that Canada's property market will benefit as more people make international money transfers and invest in the country's buildings.

Property Frontiers has suggested property investors will come "running back" to the Canadian market because there are set to be a number of bargains, with sellers cutting prices and offering improved discounts.

Christopher Chadd, head of research at Property Frontiers, said: "Before long we will see big discounts being offered on Canadian property and you can be sure that when this happens the investors will come running."

People looking to make international money transfers from the UK could be well-positioned to make the most of the Canadian market, because large price increases over the past ten years mean prices are likely to continue falling for the remainder of 2009 before picking up again next year, Mr Chadd explained.

House prices in Canada have fallen for the seventh consecutive month, according to the latest Teranet-National Bank National Composite House Price Index.

Prices decreased by 1.27 per cent in March compared to February and by 5.79 per cent compared to March 2008.