Markham, Ontario is one of the most welcoming cities in Canada for newcomers, and one of the most popular. More than 65% of Markham's approximately 350,000 residents identify as a visible minority. Cantonese, Mandarin, Tamil, Farsi, Korean, and dozens of other languages are spoken across the city's communities. T&T Supermarket, Pacific Mall, J-Town, Foody Mart, and First Markham Place are institutions built by and for communities that came to Canada from Hong Kong, mainland China, Taiwan, South Asia, Korea, Japan, and beyond. Markham has been Canada's destination of choice for East and South Asian newcomers for decades, and the city's real estate market, school systems, and employment infrastructure reflect that reality at every level.

Michael John Lau and Neeraj Moolchandani of Kaizen Real Estate Team in Markham, Ontario work with newcomer buyers from across the globe, helping families arriving from Hong Kong, mainland China, India, the Philippines, and elsewhere navigate the Canadian real estate purchasing process with clarity, confidence, and professional guidance in their language of comfort.

Can Newcomers to Canada Buy a Home in Markham?

Yes. Permanent residents and Canadian citizens can purchase real estate in Canada with the same rights as any other buyer. Foreign nationals who are not permanent residents or citizens face restrictions under Canada's Prohibition on the Purchase of Residential Property by Non-Canadians Act, which has been in effect since 2023. However, international students enrolled in full-time programs at Canadian institutions for at least two years post-purchase may qualify for exemptions. Work permit holders working in Canada may also qualify depending on their permit type and duration. A qualified real estate lawyer can advise on eligibility based on your specific immigration status before you begin your home search.

Getting a Mortgage as a Newcomer to Canada

Canadian banks and mortgage lenders have specific programs for newcomers to Canada who have limited Canadian credit history. The major Canadian banks, RBC, TD, BMO, Scotiabank, and CIBC, all offer New to Canada mortgage programs that allow borrowers with international credit history, a valid work permit or permanent resident status, and a sufficient down payment to qualify for insured mortgages.

CMHC and Canada Guaranty both offer mortgage insurance for newcomers with as little as 5% down payment on homes up to $500,000 and 10% on amounts above that up to $1,500,000. A mortgage broker with experience serving newcomer buyers can navigate lender policies and identify the best available product for your situation. Getting pre-approved with a New to Canada mortgage program before starting your Markham home search is strongly recommended.

For newcomers with significant international assets but limited Canadian income history, private lenders and alternative mortgage products are available, typically at higher rates, but viable as a bridge to establishing Canadian credit history.

Understanding the Canadian Real Estate Transaction

Key Differences From Other Markets

Buyer Representation Is Free. In Canada, buyer's agent commission is paid by the seller in virtually all resale transactions. A licensed REALTOR® like Michael John Lau represents your interests as a buyer at no direct cost to you. This is different from many markets globally where buyers pay their own agent fees. Do not attempt to navigate the Markham real estate market without professional representation.

Agreement of Purchase and Sale. All Canadian real estate transactions are governed by a written Agreement of Purchase and Sale, a legally binding contract that specifies price, conditions, deposit, and closing date. In Ontario, you must have a real estate lawyer review and assist with this document. Legal representation is mandatory for property transactions in Ontario.

Land Transfer Tax. Ontario charges a land transfer tax on all property transfers, calculated as a percentage of the purchase price. For a $1,000,000 home, the Ontario LTT is approximately $16,475. Markham buyers pay only the provincial LTT, there is no additional municipal LTT as in the City of Toronto.

Home Inspection. Canadian real estate practice includes a home inspection conducted by a licensed inspector before finalizing your purchase. The inspection covers structural, mechanical, electrical, plumbing, and other systems. Always include a home inspection condition in your offer on a Markham resale home.

Which Markham Communities Are Best for Newcomers?

 

Virtually every Markham community welcomes newcomers, the city's multicultural character is citywide. However, certain communities have particularly strong infrastructure for specific newcomer communities.

The Highway 7 corridor from Warden Avenue west through Downtown Markham and east through First Markham Place has the highest concentration of Chinese, Korean, and pan-Asian food, retail, cultural services, and community organizations. Families arriving from Hong Kong, mainland China, or Taiwan often prioritize proximity to this corridor for everyday comfort.

Cornell, Box Grove, and Greensborough have substantial South Asian and Filipino communities alongside East Asian residents, with community programming and places of worship serving these populations throughout the communities.

For newcomers prioritizing school catchments above all else, which describes many East Asian and South Asian families arriving with school-age children, Wismer Commons for Bur Oak Secondary School, Unionville for Unionville High School, and Angus Glen and Cachet for Pierre Elliott Trudeau Secondary School are the communities that historically attract the most intensive newcomer school-focused demand.

Frequently Asked Questions (FAQ)

Can I buy a home in Markham without permanent residency?
In some cases, yes, but restrictions apply. Work permit holders and certain international students may qualify.

How much down payment do I need as a newcomer?
As little as 5% depending on the purchase price and mortgage program.

Do I need a Canadian credit history?
Not necessarily. Many lenders accept international credit history through newcomer programs.

Is it better to rent first or buy immediately?
It depends on your financial stability and long-term plans. Many newcomers choose to buy right away with proper guidance.

What is the biggest mistake newcomers make?
Trying to navigate the process without a REALTOR® and proper pre-approval.

Work With a Markham Expert Who Understands Your Journey

Michael John Lau and Neeraj Moolchandani of Kaizen Real Estate Team have extensive experience serving newcomer buyers from Hong Kong, mainland China, Taiwan, India, the Philippines, and beyond. The team understands the specific priorities, financial considerations, and cultural context that newcomer buyers bring to the Markham real estate market, and delivers the professional guidance, local expertise, and responsive service that makes the transition to Canadian homeownership smooth and confident.

Contact Kaizen Real Estate Today

📞 Call 647-370-8885
📧 Email: [email protected]
🌐 Visit www.kaizenrealestate.ca
🗓️ Book a meeting today: https://calendly.com/kaizenrealestate-info/30min

Why Work with Michael John Lau & Neeraj Moolchandani — Kaizen Real Estate

Whether you are upgrading to your dream home or streamlining your lifestyle with a strategic downsize, having the right real estate team makes all the difference.

🏆 Awards & Achievements

• eXp Icon Award (2024, 2025)
• Realtor of the Year (2021, 2022)
• Diamond Award (2023)
• Titanium Award (2022)
• Platinum Award (2021)

📍 Local Expertise You Can Trust

Recognized as trusted Markham & Unionville real estate experts, they bring:

• In-depth neighborhood knowledge
• Accurate pricing strategies
• Insight into local market trends

Michael John Lau and Neeraj Moolchandani of Kaizen Real Estate bring extensive knowledge of the Markham and GTA market, a proven track record of helping clients maximize their home's value, and the negotiation expertise needed to secure the best outcome on both sides of the transaction.

• Deep local market knowledge across Markham, Richmond Hill, Stouffville, and the broader GTA

• Personalized strategy aligned with your financial and lifestyle goals

• Expert pricing, staging guidance, and marketing to maximize your current home's sale price

• Strong buyer-side negotiation to ensure you purchase your next home with confidence