The Mercer league table of the cost of living in cities across the world show that while the two cities are the most expensive in Canada, they have taken a sharp drop down the global rankings.
is now 119th
, down 23 places from last year; Toronto
is at 126th
, down 25 places. Montreal is down to 140th
, down 17 places since 2014, while Calgary
fell 21 places to 146th
Nathalie Constantin-Métral, principal at Mercer, noted: “The Canadian dollar continues to weaken against the U.S. dollar, triggering major slips in this year’s ranking.”
Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate
Investment Hot Spots:
Westville Road, Muskoka Lakes, Cowley, Frontenac, Frelighsburg
Vancouver and Toronto may be out of the reach of many homebuyers but, on a global scale, they have become more affordable.