admin | Nov. 30, 2016
For years, Toronto and Vancouver have been the darling cities for investors. However, with housing prices skyrocketing in those two cities, the government was recently forced to step in to cool the overheated real estate market.
As a result, investors have been looking further afield for new places to invest their money. And they’ve found it… right here in our own backyard. Construction is booming in Waterloo Region. Investors are lining up for days to purchase new homes and condos. Resale properties have seen a spike in prices as weary Toronto buyers choose to head one hour west down Highway 401. Their search is for more affordable housing.
The average price of all residential properties sold in October was $408,067, a 12.7 percent increase over 2015, and still far more affordable than Toronto’s average price of $762,975 for the same period. Detached homes in Waterloo Region sold for an average price of $478,685 in October – a bargain considering that detached houses in Toronto proper sold for an average price of $1.29 million.
There’s money to be made in this high-tech area which is being touted as the new Silicon Valley North and investors from China and other foreign countries are heeding the call. Well-established companies like Blackberry Ltd., Google and Open Text Corp. have a strong presence in the area. Many other high tech start-ups have also been attracted to the Kitchener-Waterloo area.
Three local, internationally-recognized post- secondary institutions provide a pool of talent as well as fuelling a strong rental market.
A newly-released report on Canada’s 10 leading tech markets confirms that Waterloo Region is the fastest-growing, with the largest increase in new technology jobs over the past five years. The 2016 Scoring Tech Talent Report by commercial real estate and investment firm CBRE Canada showed that Waterloo Region recorded an increase of 74.4 per cent in new tech jobs.
So, if you’re thinking of investing in this area, make sure you do it before the secret gets out.
Waterloo Institute for Nanotechnology
Institute of Food Processing Technology
Waterloo Centre for Automotive Research
Institute for Bioengineering & Biotechnology
Waterloo Institute for Sustainable Energy
Institute for Quantum Computing
Perimeter Institute for Theoretical Physics