A new report written by Tami Jones from Business Review Canada says that Barrie, Ontario, Red Deer, Alberta, and Maple Ridge, Pitt Meadows and Surrey in British Columbia are the top five cities for real estate investment in Canada.
Jones says that, “As usual, the most vibrant real estate jewels are hiding in the small to mid-sized towns, where relatively low housing prices combined with surging local economies make for a more predictable and stable market.”
While it isn’t entirely clear how Jones compiled her top five list, she notes that “looking at a town’s future, rather than the success of its past, is the best way to scout out an investment property in Canada.”
For example, Maple Ridge and Pitt Meadows have historically poor transportation, but according to Jones, new transportation infrastructure is being created in the areas. This infrastructure will address congestion, improve commute times, and increase accessibility to other areas such as downtown Vancouver. These advantages make projects like Haney’s Landing even more appealing.
In Surrey, it isn’t changing transit that makes the area a good investment; it’s the growing population. Surrey attracts over 1,000 new residents every month and while it is currently the second largest city behind Vancouver, its population is expected to surpass Vancouver’s in the next ten years.
Not only that, but construction is booming in the city. From Verve by Porte Development Group to Wave Condos by Mason Link Development and Rize Alliance Properties there are plenty of exciting developments coming to the Surrey neighbourhood.
Similarly, Barrie is one of the fastest growing cities in the country, providing residents with the opportunity to live in a diverse community which is driving distance to Toronto. This makes developments like Market Town Condos by Mady a potentially great investment.