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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, ON

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.

 

Victoria, BC

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.

Brampton, ON

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, ON

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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.

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Behind The Property Rate Craze In Vancouver

Vancouver presents a paradox for Canadians, and those looking to shift from foreign shores. A nice mix of the best modern urban provisions close to residences, and stunning natural beauty, Vancouver has frequently been rated as one of the best places to live in the world. It has also been rated one of the most expensive neighborhoods.

This leads to acute homelessness issues. City folk have taken to sleeping on pavements at night in wake of the increasing difficulty for any but the rich to put a roof over their heads.

Government Speculation on Property Speculators

The government has its own angle on the issue. Legislations as recent as August 2016 reveal that they believe – or at least want the common home buyer to believe – that those responsible for the current crisis in Vancouver housing live off the shore in global metropolises. They believe that Canada’s famously low interest rates in general – and Vancouver’s quality of life and superior recreational provisions in particular – made the city a natural spot for investments.

These legislations include the introduction of 10-15% tax for foreign buyers, and the Empty Homes Tax, which penalises under-utilization of residential spaces that have a current owner. This latter is aimed at investors who primarily buy houses as security or assets. The government also incentivizes native home owners through state grants.

Of these, the foreign buyers’ tax has been panned by experts and academics. They say that if foreign buyers are behind the spike at all, they’re likely to be able to adjust easily to the extra expenditure.

The Counter-View

Investigators like Geoff Dembicki don’t agree with assessments such as those implicitly sponsored by the government.

According to proponents of alternate viewpoints like Geoff, much of the housing crisis is due to domestic speculators, not foreign ones. They argue that the main problem is gentrification. The fact that property rates in Vancouver increased to epic proportions to begin with – probably due to the famously low interest rates mentioned earlier – accords them an odd prestige status. The demand for such spaces increases manifold. Since the rich can catch up most easily, they lap up these properties quickly, and come to attract the attention of investors thereafter. Luxury retailers, of course, bask in the glory of these trends.

The fallout of these trends is not just in terms of luxury housing. The people who miss out on property in cities such as Vancouver do not just miss out on elegant facades. They miss out on opportunities. Studies like Geoff’s reveal that most new jobs in urban Canada were created in about three or four cities like Vancouver with inaccessible property rates.

All in all, trends suggest that economists and experts were right, and that foreign buyer tax is useless. The other implication is that foreign buyers were only a small part of the problem. The real issue is with wealthy domestic speculators cashing in on the effects of gentrification and buying homes as investment – to rent them out sooner or later, or to sell them off later rather than sooner to avail higher returns. The best way out is to put more power into the hands of a broader range of home-buyers.

 

Housing Statstics in Greater Vancouver

 

greater vancouver real estate july 2017
greater vancouver real estate july 2017 – source: GVREB

 

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The Brave New World of Pre-Sales Condos in Yaletown

Image source: HiBusiness

The condo craze is still current in Vancouver, and especially so in Yaletown, erstwhile warehouse district that blends its heritage status with all the paraphernalia of the new lifestyle that, regardless of actual inventory, is still driving speculative money exchanges for those willing to avail of impressively high going values. It doesn’t hurt that Yaletown has a matchless transportation system in place and is a beautiful locale with a lot to offer. From the amazing Seawall to the many lush and expansive parks that dot the area, such as the George Wainborn Park, which is 2.5 hectares in size!

It should be noted that all of these spaces make good use of the city’s existing infrastructure and contribute to it, with the focus on sprawling green spaces and public recreation facilities leading to a happy circle that helps sustain those natural loci and quality recreation facilities with their focus on community living.

1121 Seymour + Davie

The nine-storey 1121 Seymour across from the Emily Barnes Park is slated to have 38 units.  For those with sophisticated taste buds, it will be pleasant to know that the property is 474 restaurants away from residents and a lack of choice for cuisine satisfaction. And over all of this, the building has been given a silver certification by the LEED Canada, which means that one can avail of all the luxuries of this space without the attending green conscience scare that so many other metropolises are ridden with.

1121 Seymour + Davie
1121 Seymour + Davie

Arc Vancouver

The Arc Vancouver is perhaps one of the most ambitious and conspicuous developments of the area, despite the fact that it is, well, a development, and not a finished project. True to its name, The Arc carries forward the tradition of triumphal arcs built on steppes and sand and asphalt since time immemorial, just that this one is built of two separate towers! The concrete-and-glass behemoths will be connected by two- or three-storey sky-bridges. In addition to the wealth of Yaletown around it, The Arc will provide special pedestrian plazas for their residents.

Developments like the Smithe, Viva tower, and 498 Drake Street focus on the region’s marriage of the urban and the traditional – based on its historical mix of older commercial and newer residential living – while designing condos, which is why it has a floor of retail and three floors of official space reserved from its twenty-six storeys of spotless and elegant boutique property living.

498 Drake St
498 Drake St in Yaletown. Image source: Skyrise Cities

All in all, condo property in Yaletown focuses on bringing a new sort of urban living into this new heart of Vancouver, one blending sophisticated private living with active community lifestyles.

 

See other Yaletown Developments

1335 Howe -Sales from $1,769,900

The Charleson – Sales from$3,600,000

902 Davie Street