<abstract xmlns="http://www.w3.org/1999/xhtml">

<p>Financial and real estate crises have been the most prevalent forms of economic catastrophe over the past three decades. In 2008, India endured a financial crisis unprecedented in its history. Canada seems to be creating a real estate bubble recently; Bloomberg Economics puts Canada as the OECD’s second greatest housing bubble in 2019 and 2021. In the case of the Indian real estate bubble, the capital and large cities saw the largest increase in house prices initially, then comparable increase spread gradually to smaller towns and provinces. Thus, this paper conducts a comparative study of the real estate markets in India and Canada and presents a basic analysis of the Canadian real estate market based on the Indian experience with the real estate crisis. Specifically, the article explores the recent economic history and deduces the elements that contributed to the real estate catastrophe. After collecting data and gaining a thorough knowledge of both nations’ real estate markets, the article performs a comparison study employing indices such as the housing index, the corruption rate, and the Business Survey Index (BSI). The research indicates that property prices in Canada are projected to rise because of a significant association between corruption and house prices and a decline in the BSI index. The research provides some recommendations to avert a full-fledged real estate meltdown.</p>
</abstract>

Financial and real estate crises have been the most prevalent forms of economic catastrophe over the past three decades. In 2008, India endured a financial crisis unprecedented in its history. Canada seems to be creating a real estate bubble recently; Bloomberg Economics puts Canada as the OECD’s second greatest housing bubble in 2019 and 2021. In the case of the Indian real estate bubble, the capital and large cities saw the largest increase in house prices initially, then comparable increase spread gradually to smaller towns and provinces. Thus, this paper conducts a comparative study of the real estate markets in India and Canada and presents a basic analysis of the Canadian real estate market based on the Indian experience with the real estate crisis. Specifically, the article explores the recent economic history and deduces the elements that contributed to the real estate catastrophe. After collecting data and gaining a thorough knowledge of both nations’ real estate markets, the article performs a comparison study employing indices such as the housing index, the corruption rate, and the Business Survey Index (BSI). The research indicates that property prices in Canada are projected to rise because of a significant association between corruption and house prices and a decline in the BSI index. The research provides some recommendations to avert a full-fledged real estate meltdown.

Comparative Analysis of the Indian and Canadian Real Estate Markets

Baltic Journal of Real Estate Economics and Construction Management

This work is licensed under the Creative Commons Attribution 4.0 International License.

{"article-title":"Comparative Analysis of the Indian and Canadian Real Estate Markets"}

Financial and real estate crises have been the most prevalent forms of economic catastrophe over the past three decades. In 2008, India endured a financial...

Comparative Analysis of the Indian and Canadian Real Estate Markets

Published Online: Jan 30, 2023

Page range: 1 - 13

Received: May 02, 2022

Accepted: Dec 30, 2023

DOI: https://doi.org/10.2478/bjreecm-2023-0001

Keywords
Comparative analysis, Canada, India, real estate bubble

© 2023 Rashmi Jaymin Sanchaniya et al., published by Sciendo

This work is licensed under the Creative Commons Attribution 4.0 International License.

Comparative Analysis of the Indian and Canadian Real Estate Markets

Published Online: Jan 30, 2023

Page range: 1 - 13

Received: May 02, 2022

Accepted: Dec 30, 2023

DOI: https://doi.org/10.2478/bjreecm-2023-0001

KeywordsComparative analysis, Canada, India, real estate bubble

© 2023 Rashmi Jaymin Sanchaniya et al., published by Sciendo

This work is licensed under the Creative Commons Attribution 4.0 International License.

Keywords
Comparative analysis, Canada, India, real estate bubble