Canada is the second largest country of the world, consisting of 10 provinces and 3 territories. When it comes to the cost of living in this Canada, the local cost of living in different regions may drastically differ from each other.
For instance: Toronto has the maximum cost of living followed by Calgary, Vancouver, Montreal, and Ottawa respectively.
Getting an idea on the cost of housing, taxes and household expenses in various Canadian cities would be beneficial for you, as it will help you to choose the right place for your living in the country.
In Vancouver, the living cost can be higher than other regions of the country. This is why, to maintain your standard of living in this region you may need to have one more wage-earner.
According to the residents of the UK and Europe, the cost of living in Canada is lower than their native countries.
Particularly, the housing rate of Canada is quite cheaper than the other developed nations across the world. The average housing rate in the country is about 7 times the average annual wage. However, the housing prices in Ontario and Alberta are 7 times the average wage and in Vancouver, it is 11 times the average wage.
People migrating to Canada with the profits of house sales from other countries with more costly housing, can purchase a house in the country with significantly less mortgage. It helps them to use their income for other essential activities.
In comparison to other western countries, food, petrol or gasoline, cars, car insurances, power all are cheaper in Canada. According to the survey,
- As compared to London, the living cost in Toronto is 30% lower.
- The living cost in Vancouver is 12% lower than in Amsterdam, Netherlands.
- The cost of living in Ottawa is 5% lower than Glasgow.