21 Jul Top 5 Real Estate Investments in Canada
For many years, Vancouver has been rated as one of the best places to live in the world. It has one of the most expensive neighbourhoods and is a hot stop for real estate investment.
Being open to so many alluring options, it becomes difficult for an investor to shortlist his/her potential deals and come to a sound decision. If you too are confused about which property to buy in Canada, check out this list of top 5 real estate investments to make a sound decision.
Guelph tops the list as the city with the most attractive real estate in Canada. Undoubtedly, there are a number of buyers ready to grab onto the best buys offered by this location. Homes in Guelph go for about $441,000. This is more than over four times the average household income. The location is on stable footing with a low unemployment rate. Guelph is home to advanced manufacturing companies, green tech firms, and supports several high paying government jobs.
This location has immense potential at the moment. The absence of foreign buyer tax along with low Canadian dollar rates add to the pros for Victoria as a location or property investments. With 26,000 people working in technology, it is an emerging high-tech hub. Victoria has the ocean along with great climate and scenery. People have the opportunity to buy great condos for under $250k. The rental vacancy rates and rental prices are just about the same as Vancouver, making it an excellent bet.
It may come as a surprise to many, but Brampton is one of the best places to invest in the real estate market. This conclusion can easily be drawn by people who have been closely analysing the market in the last few years. Brampton has the ranking in the top 10 vacancy rates and offers strong employment and population growth. Coca-Cola, Air Canada and Canon Canada are a few of the many blue chip employers that relocated here. 23-km Hurontario LRT line will also undergo improvements in its infrastructure.
North & West Vancouver, BC
North & West Vancouver have become favourites when it comes to growing real estate locations. The areas have lots of special amenities, great schools and amazing views. Port Moody’s continued investment in development and the completion of the SkyTrain stop have converted this area into a high-value neighbourhood. It offers a balance between lifestyle, travel distance and house size. New Westminster is another real estate hotspot. Factors such as growing employment and population have led to an increased demand in the area.
Barrie has a beautiful waterfront location on Lake Simcoe. It has been on the radar for investors for years. A designated Urban Growth Centre, Barrie has benefitted from job growth, transportation improvements and economic diversification. It is about 90 km away from Toronto. It offers all of the ideal amenities for future resale. What’s more? Good schools, beautiful parks and safe neighbourhoods make Barrie one of the best choices for residents and investors.
As an investor, you must be patient and calm while looking for potential real estate investment buys. There are major housing issues in Vancouver at present, but the rates of the properties may rise sharply. This is because Yaletown condominium property is one of the most desirable properties in all of Canada. Factor in every aspect to make a profitable purchase.