Canada to welcome 500,000 immigrants a year by 2025 as minister moves to hand-pick more newcomers

The government of Canada has revealed plans for a massive increase in the number of immigrants entering Canada, with a goal of seeing 500,000 people arrive each year by 2025 as it seeks to address a critical labour shortage across the country.

Immigration Minister Sean Fraser revealed the new plan on Tuesday. It puts a heavy emphasis on admitting more permanent residents with needed work skills and experience, alongside more-modest targets for family members and refugees.

" Our immigration plan is focused on helping businesses across the country find the skilled workers they need to address the labour shortage. " Sean Fraser Tweets.

What it means for Greater Toronto Area Housing Market ?

We think GTA is about to become the hot bed of new immigration - which directly translates into more prosperity in the region. As a product of demographic distribution - more and more people will opt for affordable housing. Due to the influx of new immigrants the Demand for condos and townhomes could grow. putting pressure on Home builders to build more affordable homes.

With elevated demand for affordable housing this means a higher degree pressure for Home builders to build more homes in Ontario. From and economics standpoint - this further stresses our supply and demand metrics. Which could translate into higher prices in future. This current target makes Canada one of the most attractive points for skill based immigration. Which also means 100s of millions of dollars flowing into this economy over next few years.

If you are a new Immigrant and living around Brampton, Mississauga or Barrie there are new Preconstruction homes that are available by reputable builders.

Check out preconstruction homes in Niagara for upcoming projects.

Contact us at [email protected] for details on Preconstruction homes in Calgary or new construciton homes in Ottawa.