KW Tops REIN Top 10 List
Kitchener Waterloo is Ontario’s top Real Estate Investment Destination, again.
Well, it’s that time of year again. Kitchener Waterloo is getting some more much deserved attention from Canadian Real Estate Investors all across the country.
KW has been named the top real estate investment destination in Ontario by the Real Estate Investment Network for a couple years in a row (see: Kitchener Waterloo Real Estate ranked #1 again), and this year the trend continues.
REIN released the REIN Top 10 list that named Kitchener Waterloo the #2 investment destination in Canada, and tops in Ontario again.
From CTV News:
The Record reports:
REIN “refers to Waterloo Region as the “economic Alberta of Ontario.”
That means Waterloo Region is seen not only as the economic engine of the new Ontario economy, but also that it “will outperform all other major regions in eastern Canada,” says REIN president Don Campbell
For indicators, he points to job growth, student growth and a new light rapid-transit system.”
Why are real estate investors focused on our city? Let’s take a look at the reasons why people like buying investment property in Kitchener Waterloo
Top 9 Reasons People Are Investing in Kitchener Waterloo Real Estate Now
2. Low Interest Rates. currently we have very low interest rates – although there is a slight upward trend right now – which makes NOW a great time to invest. Rates will be going up in the future. It’s a matter of how soon, and how much. Smart real estate investors are taking advantage of historically affordable cost of borrowing money.
3. Great prices – Investors love Kitchener Waterloo because it has a booming economy, without big city property prices. Our clients invest in condos ranging from $120,000 on up, and there are opportunities to buy multi-family housing with cap rates of 7%, leaving room for healthy cash flow with today’s low interest rates.
You can buy good quality new construction rental units here (like City Centre, 144 Park, Bauer Lofts and others), for much less than you’d pay for an older condo in Toronto. (That’s what our cilents from Toronto happily do, over and over again).
4. Growth – Kitchener Waterloo is growing at a rapid rate. If you haven’t been here in a few years, just drive down King St! There are mulitple mega million dollar developments that are underway or have been completed recently – The Bauer Lofts, The Barrel Yards, City Centre, 144 Park, the Arrow Lofts, Kaufman Lofts, the new McMaster medical school and University of Waterloo Pharmacy school, the new King St streetscape in downtown, the new Uptown Waterloo, the Kitchener Market, Market lofts; and LOTS of development in the university areas as well.
Also, the University of Waterloo has recently announced plans to double it’s footprint over the next 40 years. See Is Waterloo’s Student Housing Market Being Over Built?
5. Stable, Diverse Economy – Kitchener Waterloo is a market supported by strong fundamentals – world class high tech companies, universities and NGOs; a strong manufacturing sector; proximity to Toronto and the United States; an international airport; continued job growth etc.
In the July 2010 figures released by Stats Canada, the jobless rate of the KW area fell, while national unemployment rose.
6. Access to Property Management – all of our clients have access to world class property management for a very reasonable rate. Contact me for more details !
7. Great Business Community – Major companies and organizations call the Technology Triangle home including RIM (makers of the blackberry), Toyota, OpenText, Manulife, Sunlife, the Perimetere Institute, the Centre for International Governance Innovation, and a host of world class local companies.
8. Awesome, Smart People: Kitchener Waterloo is the MOST INTELLIGENT COMMUNITY IN THE WORLD. Take that Toronto
9. Great Resource – You have found a real estate agent and Wealth Building team that is focused on building your wealth!
What are some of the reasons you like investing in Kitchener Waterloo? Let us know in the comments!