COVID-19 pandemic has negatively affected each sector of the industry worldwide and its impact is immense. Most of us have put a pause to our normal routines, business plans, and have deferred our short-term goals. All of us need to remain safe and let this temporary phase pass with minimum negative impact.
Fortunately, the real estate industry in Canada has not been affected that way but has rather seen positive growth. Many investors have shown interest in the housing sector during this period. You can buy a house either to live in or for the purpose to rent it out.
The investment can be with the purpose to sell it after some time when its value gets appreciated. Compared to other provinces, Ontario is a perfect choice for investment in real estate, short term as well as long term.
The various reasons for the growth of real estate prices in Ontario are population growth, a high number of employment opportunities, high income, etc. Ontario has the highest population in Canada. If you want to invest in real estate in Ontario, here are the tips for finding the best places in Ontario, Canada.
Hamilton: Hamilton being an industrial city is one of the best places for real estate investment due to the demand for rental housing. The city has very good healthcare institutions, top higher educational institutions like McMaster University, Mohawk College of Arts and Technology, rising food and hotel industry.
The prices of real estate are lower in Hamilton as compared to a big city like Toronto. By investing the same amount you can buy a larger space and make greater rental income. There are plenty of options in pre-construction properties
London: The other place in Ontario for investment in real estate in London. The demand for housing here is ever increasing. One of the main contributors to this demand is the students, especially the international students. The city has two very big higher educational institutions Western University and Fanshawe College.
The students who are willing to work after their studies are a big source of the demand for rental housing. That ensures a steady return on investment in housing. The city is home to several large hospitals. These institutions help keep the steady influx of people. These institutions also offer large employment opportunities.
The presence of a lot of digital media companies in London has earned the city the reputation of a technology hub. These are some of the reasons due to which the city of London has seen significant growth.
Windsor: The city is located in the southwestern region of the province. The property prices are very affordable in Windsor, which makes it an attractive place for real estate investors.
Increasing population and improvement in infrastructure are the other major factors. The city has plenty of natural beauty and is also called ‘The City of Roses’. Windsor’s economy is mainly dependent upon the transport, manufacturing, and tourism sectors.
Guelph: The city of Guelph is also a good place for real estate investment. The city’s economy is very stable and this gives a reason for those who wish to buy or rent a house. The city has a low vacancy rate, which means more demand for properties to be available for rentals.
The GDP of the city is higher than the national average. The University of Guelph is one of the innovative and comprehensive institutions. The unemployment rate of Guelph is very low.
Niagara Region: The Niagara region is located in Southern Ontario. The region lies between Lake Erie and Lake Ontario. It has a world-famous natural wonder, Niagara Falls. The region also is home to many vast green spaces, sandy beaches, shopping complexes. The quality of life here is unbeatable.
Over the past few years, the population of the region has witnessed steady growth. The prices of property, though increasing are still affordable. It has a large transportation market and also the science and technology market is also growing fast, making the economy of the region very diverse.
Kitchener/Waterloo: It is one of the fastest-growing metropolitan areas in Ontario. Compared to the GTA and the surrounding suburbs, it is cheaper to buy a house in Kitchener/Waterloo area. The area also a low vacancy rate and the rental rates are growing steadily. It has some of the top educational institutes like the University of Waterloo, Laurier University Conestoga College.
The students graduating from these institutes continue to stay due to the employment opportunities available here. It has the world’s second-highest density of tech start-ups. Kitchener-Waterloo is also known as Silicon Valley North. Recently transport infrastructure of Kitchener-Waterloo has witnessed huge improvements.
Kingston: The city was the capital of Canada for three years when the country was founded in 1841. Geographically, the city is situated midway between Toronto and Montreal. The travel time to each of these cities is about two and a half hours. This makes Kingston a perfect place for business travelers and for people to spend weekend time.
Increased population and tourism options make this city valuable for real estate investment. Kingston has affordable housing and is a good choice for those who cannot afford expensive housing in big cities.
Brantford: The city is located in southwestern Ontario along a major highway. The city has an affordable transport network and a diverse range of industries. It has all the comforts and convenience of big cities and its popularity is increasing. The city has many public and private schools.
For Post-secondary education, the options include Wilfrid Laurier University, Six Nations Polytechnic, and Conestoga College. Students living in Brantford can commute to McMaster University as Hamilton is only half an hour’s drive away.
Final word
The above information will help you to have a look at all the possible places to invest in real estate in Ontario in 2021 and take your decision. Investment in real estate in any of the cities will turn into a source of steady income.
Our team of Realtor in Brampton can help and guide you with all the information and the process for investment in real estate in any place of your choice in Ontario, Canada.