Niagara Real Estate
MoneySense magazine recently ranked Niagara as one of Canada’s best locations to buy property. Their top-ranked cities have strong economies, solid rental markets, good value for your dollar and robust price appreciation – characteristics shared by all Niagara, Canada, communities.
Catharines and Niagara College have a campus in Welland and Niagara on the Lake. These cities are a great RE investment due to the high demand for Student Housing. Student Housing requires a certain investor mindset and tenacity, but if done right, it can yield a higher rent than executive rentals. Niagara’s rent is skyrocketing, with a 25.5% increase reported in three years.
The Niagara region is one of Canada’s largest tourist destinations. Home to Niagara Falls and Canada’s largest wine region, people flock to this stretch of Lake Ontario’s southern shore. BUT Niagara is no longer just a place to visit. More and more people are calling this region home.
Jump in your car and take a drive down the QEW. It won’t take you long to see new developments lining the lakeshore. It’s continuing trend into Niagara’s small towns and larger cities like St. Catharines and Niagara Falls.
Niagara has a rental shortage, and it is only getting worse. Vacancy rates are very low, and there are not enough affordable houses for many people in the region.
GO services have started running daily and will become more frequent in the coming years. Niagara is also getting a huge Metrolinx expansion over the next several years. (Metrolinx announced its plan for Niagara to see 11 GO Trains daily upon completing this phase. Six outbound from Niagara Falls to Union Station, and five inbound from Union to the Falls.) A GO Train station is scheduled to open in Grimsby in 2021, and another Train station has been approved for Beamsville in Phase 2 of the expansion.
While the region is known internationally for its world-renowned waterfall, it offers so much more and is home to many other activities, festivals and attractions. Over 100 wineries have made Niagara famous for its ice wines, 40 golf courses for players of every expertise, dozens of performing arts establishments and festivals add a rich cultural atmosphere, and five theme parks and Canada’s largest casino await travellers who want to indulge in unbridled excitement.
Regarding real estate investment, Niagara offers one of the most fertile environments. Moving to the Niagara region has various benefits. One of them is affordable housing. It also makes a great investment opportunity for those who want to invest in steadily growing properties.
Niagara region shows great signs of a healthy Spring 2023 for Real Estate.
