The Canadian real estate market has seen an influx of investors over the past few decades. From single-family residential houses to purpose-built rentals and condominium, there are a number of options you can choose to reside and invest in. In this article, we will briefly analyze some of these property types in light of the recent market trends in Canada so you can make a smart move when you step into the real estate market, no matter what your intentions are.
Single-Family Residential Houses
The major market trends of 2019 favor single-family homes as compared to other property types according to a report published by PWC. Consequently, the growing demand of single-family residential homes is a constraint in major cities but with new residential developments like Natures Grand community currently under construction, the problem is expected to be addressed in the coming years.
Condos remain to be the talk of the town in 2019 despite the rising condo fees and tougher mortgage rules and given the amenities they have to offer, why shouldn’t they be? Although they may be a bit high priced in comparison to single-family homes, the demand for multi-family units like condos is expected to remain strong as long as population growth and economic expansion continue. To keep up with this trend, many new condo developments are also being established in major urban centers across Canada to cater to potential investors and buyers.
Not only do purpose-built real estate developments endeavor to address the increasing housing demands but are also a viable option for offering rentals at greater affordability. Consequently, as per current market trends, the multi-purpose rental market is headed towards growth as more and more people turn towards them as a result of affordability issues and mortgage denials.