Wondering where the 10 best places to buy Canadian real estate?
If you’re looking for value, affordability, and growth potential, the Canadian real estate market shows no signs of slowing down. If you’re willing to consider investing in small to mid-size cities, the Canadian real estate market offers a wide range of choices. Many investors have discovered smaller centres offer bigger space, more greenery, a greater sense of community, and of course, better affordability. This shift to mid-size real estate investments in smaller cities has become a common Canadian real estate investment trend referred to as “interprovincial migration.”
Interprovincial migration offers greater opportunity for affordability, growth (averaging 1% per year), and lifestyle. Here are 10 Canadian cities where you can get a foothold in accessible and thriving real estate markets.
Ontario
As the third fastest-growing city in Canada, with one of the highest job markets in the country, affordable Windsor is not only poised for rapid growth but is one of the only Canadian cities with direct proximity to the USA.
Katerina Georgina, March 5, 2021, Retrieved from https://www.cbc.ca/news/canada/windsor/windsor-affordable-how-affordable-for-windsorites-1.5929349
For those who like to live close to a big city but on a small-city budget, Hamilton offers real estate prices at a 1/3rd less than Toronto.
Two hours out of Toronto and close to the USA border, Kingston has enjoyed a long and successful reputation as a college-friendly town, making it ideal for student rentals. Its affordability makes it exceptional as an accessible investment location.
Retrieved from RE/MAX, https://blog.remax.ca/kingston-housing-market-outlook/
Quebec
For a glamourous, European lifestyle with below-average real estate prices and affordable childcare, Montreal offers a unique investor opportunity.
January 17, 2022, Retrieved from https://wowa.ca/reports/canada-housing-market
Western Canada
From the Pacific coast to the prairies, the western region continues to attract the attention of national and international buyers alike.
Victoria, Nanaimo, and Kelowna experienced an influx of buyers which has pushed prices up in 2022. Although Nanaimo’s housing prices fall significantly lower than elsewhere in BC, plus it offers all the bonuses of Vancouver but on a budget.
Nestled on the Okanogan Lake, boasting beautiful year-round warm weather, Kelowna was voted best city in Western Canada for property investment, Western Investor. Kelowna continues to be a popular retirement and vacation destination with a low vacancy rate and industrial potential.
Becky Robertson, 2022, Retrieved from https://www.blogto.com/real-estate-toronto/2021/12/people-moving-toronto-driving-real-estate-prices-other-provinces/
RBC’s provincial outlook for Alberta puts Alberta, specifically Edmonton and Calgary, in the #1 spot for economic growth in 2022.
With all the perks of major centre amenities framed by the world-class view of the Rocky Mountains, Calgary is Canada’s 4th largest and one of the most affordable cities in Canada. Calgary also brags some of the country’s highest average incomes, lowest taxes, and youngest populations.
With its diverse economy, high demand for housing, and low mortgage rates, Edmonton is listed as one of the top three most undervalued cities in Canada, next to Regina and Winnipeg.
Winnipeg has grown an average of 2 percent over the last several years, which is fueled by immigration rates and new construction. With its eight universities, high student population, and attraction to young families seeking affordable places to live and work, Winnipeg is one of Canada’s most affordable cities.
Atlantic Canada
In Atlantic Canada, the anticipated potential for average sale prices is an increase from 5-20% in 2022, according to RE/MAX brokers and agents. Because of the affordability and livability, there has been a surge of out-of-province buyers from Ontario choosing to buy in Moncton, Fredericton, Saint John, Halifax, and Charlottetown. Out of the list, there are two standouts;
One of the most beautiful places in Canada with a small-town feel and all the conveniences of a big city, Halifax offers affordability with tremendous growth potential.
For under $300,000, Moncton offers oceanside rural living at some of the best prices in Canada.
Dec 1, 2021, Retrieved from https://www.todocanada.ca/re-max-says-average-canadian-home-prices-will-continue-to-increase-in-2022/
The Canadian real estate market continues to grow at unparalleled rates. When weighing your options of where to buy the best investment property in Canada, consider these 10 hidden treasures.
What do you believe are the best Canadian places to buy real estate? I’d love to hear about it [emailprotected]
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