« The Toronto area market is blooming | Main | Residential Real Estate Guidelines »
Where to invest in real estate now?
With property prices still increasing across Canada and no sign of a bubble, investors might want to try Edmonton first.
If you need proof that the real estate market is hot, consider the fact that the average home in Vancouver now tops more than half a million dollars. And housing prices across the country have soared 46% during the past five years. Yet there's little to suggest our real estate is overpriced.
While there are certainly bad buys in good markets, and good buys in softer markets, Canadian Business magazine has rated the general prospects in nine major cities to get Canadian investors' homework started.
HOT: Edmonton
With a one-year average price increase of 10%, the oil city is Canada's only major market that has a trifecta of strong demand, tight supply and affordability. And it's not only because of the oil and gas boom.
WARM: Calgary, Kitchener-Waterloo, Toronto
LUKEWARM: Vancouver, Saskatoon, Winnipeg, Montreal, Halifax
Find Canadian real estate prices too high? Head south, way south. Some Canadian investors are finding incredible deals in surprising countries: Colombia, Honduras and Malaysia to name just three.
Eyes to the skies
Condos are a quick way into the real estate game for cash-strapped or neophyte investors.
See details in Canadian Business Magazine »
April 3, 2007 in Canadian Market Forecast | Permalink
TrackBack
TrackBack URL for this entry:
https://www.typepad.com/services/trackback/6a00d8341c51e453ef00d8353210b169e2
Listed below are links to weblogs that reference Where to invest in real estate now?:
Comments
Calgary remains HOT .... . Stats from March 2007 indicate the average price of a SF Calgary house now is $463,000, and as high as $594,000 in SW Calgary (see http://www.jimsparrow.com/market-stats.php for latest stats).
A new *all-time* Calgary MLS sales record was set last month, with just under 4,000 transactions.
Posted by: Jim Sparrow | Apr 10, 2007 9:01:39 PM
It's rather odd that Saskatoon is considered a "lukewarm" market. Prices are going through the roof and places are getting multiple offers well above asking......One-year average price increases are around 26% and rising..... So in my opinion Saskatoon should be considered HOT!
Posted by: Dana | Apr 5, 2007 3:21:11 PM
This being a real estate blog, I think you or your readers might find www.housemath.us interesting.
The site allows a potential home buyer to do sophisticated financial analysis of the monetary consequences when buying a home.
Or in plain words - how much exactly and for how long do I have to pay for that house.
Posted by: Denis | Apr 4, 2007 10:47:37 AM
Really Hot - The Calgary-Edmonton highway 2 corridor. Prices here are rising fast, but good investments can be had.
Posted by: Bart | Apr 3, 2007 11:15:42 PM
The comments to this entry are closed.
