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Fun & Random Real Estate Facts Across Canada: Surprising Mortgage Differences From Every Province & Territory
Canada isn’t just diverse in culture and geography—our real estate and mortgage rules vary wildly across provinces and territories.
This article kicks off a national fun-facts series designed to help Canadians understand how different the homebuying journey can be depending on where you live.
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British Columbia: The Most Expensive Land in Canada
In many Vancouver neighbourhoods, land value alone can make up 70–80% of the property’s total price.
BC also has its own Speculation & Vacancy Tax, something no other province applies.
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Alberta: No Land Transfer Tax—A Canadian Unicorn
Alberta buyers avoid one of the biggest closing costs in Canada: land transfer tax.
Instead, they pay only modest title and mortgage registration fees.
This makes Alberta a favourite among investors seeking predictable closing costs.
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Saskatchewan & Manitoba: The High-Yield Prairies
Lower purchase prices and stable rental demand often lead to some of the best cash-flowing properties in the country.
Fun fact: In Saskatchewan, many homes include sump pumps as standard due to soil conditions—surprising for buyers from Ontario or BC.
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Ontario: The Only Province With Double Land Transfer Tax (Toronto Buyers Beware)
Ontario consistently leads the country in volume of real estate transactions—and complexity.
If you're purchasing in Toronto, prepare for two land transfer taxes:
✔️ Provincial
✔️ Municipal
This can add tens of thousands to closing costs.
Try our Closing Costs and Land Transfer Tax Calculator
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Quebec: Where Mortgages Have Their Own Language
With a civil law system, Quebec handles mortgages differently from all other provinces.
A mortgage is a “hypothèque”, closings are done by notaries, and certain lender documents follow unique provincial rules.
This creates a completely different buying experience for newcomers to the province.
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New Brunswick: A Bilingual Real Estate Market
New Brunswick is home to Canada’s only two officially bilingual cities—meaning many real estate deals are conducted in both languages.
It’s also one of the fastest-growing provinces as more Canadians seek affordability.
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Nova Scotia: A Rising Real Estate Hotspot
Halifax has quickly become a tech and immigration magnet.
Some rural areas still require private road maintenance agreements, which lenders will review before approving a mortgage.
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Prince Edward Island: Coastal Insurance Shapes the Market
Because PEI is exposed to wind and water risks, home insurance premiums can vary dramatically based on elevation or proximity to the ocean.
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Newfoundland & Labrador: Canada’s Only Province With Its Own Time Zone
Real estate literally runs on a different clock here.
NL also has unique new home warranty structures depending on the builder—something not common in most provinces.
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Yukon: The Capital of Modular and Prefab Homes
Many homes are delivered in pieces due to remote geography.
Lenders often use specialized guidelines for:
- modular homes
- seasonal road access
- off-grid systems
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Northwest Territories: Ultra-Short Building Season
Due to climate conditions, construction windows are short, often raising build costs and influencing mortgage approvals for new construction financing.
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Nunavut: The Highest Building Costs in the Country
Because most materials must be flown or shipped in limited seasons, Nunavut has some of the highest per-square-foot building costs in the world.
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Final Thoughts: Canada’s Housing Market Is Uniquely Regional
This fun-fact series highlights something important: Canada doesn’t have one real estate market— it has 13. Each with its own systems, terminology, quirks, taxes, and underwriting rules.
If you want to explore how your next real estate move might look based on your location, numbers are the best place to start.
Use one of our free Canadian calculators to compare real costs across provinces: