Trump fears fueling U.S. interest in Canadian properties - report

by Ephraim Vecina on 25 Jan 2017
Donald Trump assumed office as the 45th President of the United States on January 20 (Friday), further stirring uncertainty in a global environment already wary of the controversial mogul-turned-politician’s publicly stated positions.
 
Such is the Trump effect that queries from Americans have inundated the online portal of real estate seller Royal LePage, with U.S.-originated traffic swelling by 329 per cent the morning after the November 8 presidential polls.
 
In its survey results released on Friday (January 20), Royal LePage noted that the Canadian housing sector should not underestimate the impact of this interest materializing into actual purchases.
 
“Given America's vast population, even a fractional increase in the number of households following through on this initial interest and successfully completing the demanding process of emigrating to Canada could drive a material increase in the number of home-buyers from south of the border,” Royal LePage president Phil Soper said, as quoted by Postmedia News.
 
The study, which surveyed 1,226 Royal LePage real estate advisors nationwide, further revealed that 39.5 per cent of respondents predicted that American inquiries on Canadian homes will see a marked increase during the Trump administration.
 
Fully 41 per cent of U.S. nationals who approached Royal LePage since November have searched for properties in Ontario, according to the report. British Columbia ranked second, garnering 17.9 per cent of the inquiries.
 
“The United States was already a top source for immigration into Canada, and now in the period following the recent U.S. election, we are witnessing a material bump in American interest in Canadian real estate,” Soper explained. “With the high value of the U.S. dollar increasing Americans’ purchasing power, we may be seeing more moving trucks with U.S. licence plates in our future.”
 
Google searches for “move to Canada” have seen a significant rise ahead of the U.S. polls, and the Canadian immigration department’s website suffered a system crash on election night due to the overwhelming number of inquiries.
 

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