Canada real estate investment information for British Columbia, Vancouver Island, Nova Scotia, Ontario, Quebec and New Foundland. Scroll down for more information about Canada.

About Canada

Canada offers a well regulated real estate industry which is led by The Canadian Real Estate Association. The national average price for housing in November was $256,126cd, up from $230,847cd in November, 2004.

Canada is the second-largest country in world (after Russia) and holds a strategic location between Russia and US via the north polar route. Approximately 90% of the population is concentrated within 160 km of the US border. The estimated population for Canada in 2004 is 32,507,874 persons.

Canada consists of 10 provinces and 3 territories: Alberta, British Columbia, Manitoba, New Brunswick, Newfoundland and Labrador, Northwest Territories, Nova Scotia, Nunavut, Ontario, Prince Edward Island, Quebec, Saskatchewan and the Yukon Territory*.

The Canadian legal system is based on English common law, except in Quebec, where civil law system based on French law prevails.

Canada today closely resembles the US in its market-oriented economic system, pattern of production, and high living standards. Since World War II, the impressive growth of the manufacturing, mining, and service sectors has transformed the nation from a largely rural economy into one primarily industrial and urban. The 1989 US-Canada Free Trade Agreement (FTA) and the 1994 North American Free Trade Agreement (NAFTA) (which includes Mexico) touched off a dramatic increase in trade and economic integration with the US. As a result of the close cross-border relationship, the economic sluggishness in the United States in 2001-02 had a negative impact on the Canadian economy. Real growth averaged nearly 3% during 1993-2000, but declined in 2001, with moderate recovery in 2002-03. Unemployment is up, with contraction in the manufacturing and natural resource sectors. Nevertheless, given its great natural resources, skilled labor force, and modern capital plant Canada enjoys solid economic prospects. Two shadows loom, the first being the continuing constitutional impasse between English- and French-speaking areas, which has been raising the specter of a split in the federation. Another long-term concern is the flow south to the US of professionals lured by higher pay, lower taxes, and the immense high-tech infrastructure. A key strength in the economy is the substantial trade surplus. Roughly 90% of the population lives within 160 kilometers of the US border.