How Corona Virus going to affect Real Estate?
We all know that Chinese economy hit so badly due to corona virus, where more than 800 people died & over 32000 are infected, 6 cases have been confirmed in Canada with no fatalities yet. Now the question is how it may impact on Canadian Economy & Real Estate?
Because Canadian companies rely on import from China . In 2018, Canada imports from China was over US 58 Billion .For example, Wuhan is an Automotive hub and also a big producer of accessories like phones & Televisions, So Canadian supply chain is affected because of it & If we talk about Canadian Real Estate, It's not 100% dependent on Economy. But It also depends on other factors like Immigration & Inventory of Houses. Due to high immigration to Canada, Experts think due to High Immigration & Low Inventory of houses, prices will keep going up approximately 10% in 2020. Toronto Real Estate Board & Other Real Estate Agencies predict that due to low supply of houses & Pre-construction Projects, Real Estate Market will keep booming.