In a recent survey of the Canadian cities, a few cities emerged as the best dwelling cities for the citizens. The basis of choosing these cities is the lower unemployment rates, prices of properties, steadily increasing industries, affordability of the buyers to purchase the houses and so on. A few cities are priced high but some other will fit into the income range of the solo buyers even. Let us now have a look at some of the best Canadian cities fit for real estate investments:
The market of this city is popularly known for the production of hazelnut chocolates and Nutella. The economy of this city is becoming increasingly strong and wide. It has a diversified economic system and a lower unemployment rate. The prices of the housing and real estate properties are steadily increasing but still, they are affordable to purchase. It is flourishing as a big urban center.
The city has made it to the third place in the rankings because of its astonishing real estate prices and the stronger economy rise. The lesser unemployment rate and the 5-year ROI is also 8.4%.
Peterborough has gained a second place in the Canadian real estate market because of good ROI value, the average yearly rent increase is nearly 10%, affordability to purchase the real estate properties, and much more.
The real estate property in Vancouver, Canada is highly priced. However, if the investor has some money to spare then they can readily invest in this market for renting it out. You can also buy the property for resale as the prices are rising at a 14% rate every year.
Prince Edward Island
The investors can either keep the property here as their vacation rental or rent to people who have spare money to spend time on vacation in this Canadian city. It is the best investment decision the investors can make because of the affordability level. The re-sale can be a good idea too as the rate is rising at 19.6% that is quite interesting.
The ‘Greater Golden Horseshoe’ city Guelph attained a fourth place in the 2018 real estate market from the last year top slots. It provides a greater ROI to the investors at 10.5% with a rental increase of nearly 21% from the last year. Even the unemployment rate has dropped in this city.
Summarizing, these are some of the top Canadian cities that have attained an excellent slot because of lower unemployment rates and great resale value of the real estate properties.