As we head out into a brand-new decade, many new real estate investment opportunities are now present before us in 2020. Canada is one of the finest examples for not just the locals but foreigners as well. As a matter of fact, because of the impact that COVID-19 has had on the real estate market, there are plenty of excellent investment opportunities available today.
The cities in Ontario are some of Canada’s most popular provinces to look for a new property. And if that’s what you’re looking for, then this is just the article for you. Whether you’re looking for a permanent residence, a place to rent, a long-term selling opportunity, we’ve got everything for your needs in this write-up.
So without further ado, let’s look into some of the best places to invest in real estate, Ontario.
Best Places to Buy a House in Ontario
The capital of Ontario, Canada itself, is a place that barely needs any introduction. It is hands down one of the best places to buy a house in Ontario. If you’re looking to settle in the metropolis area, just know that it will take a huge bite out of your wallet. Even so, it does offer a rewarding long-term benefit for your investment. But despite offering a strong ROI year over year, it pays to plan your steps before even thinking about investing.
Regardless of the coronavirus pandemic we’re dealing with, Toronto still attracts students, immigrants, and businesses every year. Just last year, The University of Toronto scored over 90,000 students. An interesting observation from those students is that about 1/4 of them (20,930) were international students. In fact, Canada has witnessed a surge in international students by an incredible 18% from just last year.
It is clear from those stats that immigration is a big deal for Toronto. Right now, the city is continuously having a large portion of immigrants moving over to Toronto for work. And the very thing that these people look up to when arriving is rent.
2. Durham Region
The Durham region houses Whitby, Pickering, Oshawa, and Ajax. This region that is East of Toronto continues to expand as more and more people from the metro area are migrating here to enjoy the suburban lifestyle.
The Lakeshore East line of GO continues to flourish with even more advanced services for commuters who are moving into the city. The 407 and 401 run throughout the region to make sure it’s a convenient area for homeowners, both present and future.
As Toronto expands even as we speak, the results speak for themselves when it comes to attracting interest from immigrants as well as the establishment and growth of new businesses that desire a more affordable market for real estate next to the city.
If you want to settle down in the Durham Region while also looking for an affordable but attractive new house, you need only to contact Paradise Developments.
Brantford is another one of many cities that people would consider to be the best place to buy a house in Ontario. Usually referred to as the “Telephone City” after the inventor of the telephone himself and famous resident Alexander Graham Bell, Brantford secured that position based on several variables, including value relative to nearby areas, renting cost, and price momentum.
The city is known to be the birthplace of Lawren Harris, a Group of Seven painters and hockey icon Wayne Gretzky. Some of the reasons why Brantford’s housing marketing is attractive nowadays is due to low employment, a flexible local economy, and a prosperous Golden Horseshoe region, which goes from Niagara to Peterborough.
According to the RE/MAX 2020 Housing Market Outlook Report, London is going off into 2020 with a very strong market, and there are several reasons as to why that’s the case. For one thing, the city houses two well-known post-secondary institutions, including the Fanshawe College and the Western University, and also numerous large hospitals. These institutions not only keep the flow of people into the city steady, but they’re also one of London’s top employers.
There has also been a growth of digital media firms in the downtown core of the city, thereby allowing London to earn the reputation of being the region’s blossoming tech hub.
Another “best real estate investments in Ontario” qualifier is Windsor. Like other cities on this list, Windsor has also experienced a growth in property taxes over the years. In 2018, the city was projected to have the biggest housing price percentage increase in all of Canada.
Despite that, however, the houses in Windsor are relatively more affordable than those in the GTA, thereby attracting buyers from that area as well. Over the years, there’s been an increased demand for brand new townhomes and luxury homes.