Are these Canada’s best property markets?

by CRE on 24 Aug 2015
By John Tenpenny

Some things never change. For the fifth consecutive year, Canada took three of the top five spots in an annual ranking of the world’s most livable cities.

The list, compiled by the Economist Intelligence Unit (EIU), affiliated with the Economist magazine, can be taken as indication of which Canadian centres offer investors a steady stream of renters, regardless of minor fluctuations in employment and commerce.

On this year’s list, Vancouver ranked third, Toronto fourth, with Calgary in a tie for fifth with Adelaide, Australia.

Melbourne, Australia, took first place for the fifth consecutive year. 

In 2010, Vancouver topped the global list, Toronto was fourth and Calgary was fifth. 

The topical report ranks 140 cities worldwide based on living conditions and challenges affecting lifestyles. These include weighted categories such as stability, health care, culture and environment, education and infrastructure. The results are scored and ranked, pitting cities against one another.

The similarities between the highest-ranking cities include their size, the wealth of their nations and their relatively small populations. The report says that this allows for recreational activity in an environment with low crime and unburdened infrastructure.

Since 2010, 57 of the cities surveyed “have seen declines in livability” due in part to issues affecting stability and safety.

Cities such as Detroit, Athens, Moscow, Tunis, Kyiv, Tripoli and Damascus saw some of the most dramatic drops in the global index. 

Here’s the full top 10 list:

1 – Melbourne, Australia.
2 – Vienna, Austria.
3 – Vancouver, Canada.
4 – Toronto, Canada.
5 – Calgary, Canada / Adelaide, Australia.
7 – Sydney, Australia.
8 – Perth, Australia.
9 – Auckland, New Zealand.
10 – Helsinki, Finland / Zurich, Switzerland

 

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