Global real estate transaction platform, Square Yards has announced its expansion into Canada with new offices in both Toronto and Vancouver.
The company already has a presence in 12 international cities including London, Dubai, Sydney, Abu Dhabi, Singapore, Doha, Hong Kong, Muscat & Sharjah.
Square Yards' Co-Founder and COO, Kanika Gupta Shori, says the platform's ground presence in the Canadian market will also serve as a gateway to the US markets.
“Using Canada as focal point, Square Yards aims to delve deep into North American markets. Economic recovery in conjunction with higher demands have made Canada, one of the most sought after real estate markets, across the globe.”
Canada is one of the major destinations on the global real estate map, comprising of a healthy mix of international & domestic investors. The growth is led by cities such as Toronto & Vancouver, wherein capital appreciation in real estate has been in tune of 15-20% annually, in recent times. With a limited supply of stocks, expansion in job markets & healthy economic outlook, real estate industry is expected to further move up the curve.
Square Yards aims to become the de-facto channel to route NRI investment in global & Indian real estate. Since its beginning, it has enjoyed a stronghold in the NRI segment, that accounts for near around 30%-40% of its total revenue. The total NRI investment in new launch residential units in top 8 major Indian cities is expected to be around USD 11.5 billion in 2016, as per research conducted by Square Yards. This is nearly 20% Year-on-Year (Y-o-Y) increase.
In October, the Indian online to offline real estate startup announced it has crossed $USD 1 billion in terms of the total value of properties sold through its platform.