In Canadian real estate investing, Ontario has become a real estate hot spot. Despite the rocky housing market during the pandemic recovery, 2023 is expected to be a great year for investment in the province. The housing market across the country is on the mend, with prices for a home peaking in March 2022. Here are some of the best areas to consider real estate investing in Ontario.
London
One of the more popular cities in the province, London is proving to be a stand-out city for investors. Known as the "Forest City," the significant green space attracts immigrants and students, driving London's growth; new census data shows it is the fastest-growing city in Ontario. The ever-increasing population is outpacing the housing supply, and demand is high in the area. This demand is why investors are finding so much success in London.
Kitchener-Waterloo
Kitchener-Waterloo is another great market to consider, home to a large student population and one of the biggest tech industries in Ontario. Many students and young professionals are looking for rentals, and a 2% vacancy rate shows demand for units. With proximity to Toronto without the prices of Toronto, Kitchener-Waterloo is an excellent market for real estate investing.
Niagra
The market for vacation rentals in Niagara is prominent, but the city is a booming business for agriculture and entertainment. Niagara boasts a low vacancy rate of 1.8%, showing the area's promise even when tourism slows. The city has consistently succeeded for decades, and that success won't stop now.
Windsor
One of the more affordable places on our list, Windsor thrives off auto workers and students. This makes a significant real estate investing marketplace through rental properties in the area. The population continues to grow, and a recovering real estate market in 2023.
Hamilton
If you're looking for a house to flip, Hamilton is the place for you! Houses in the area are old, and people moving into the city are looking for updated and ready homes. This is an excellent strategy for those looking for a project, and it often comes with a smaller initial investment.
If you want help deciding what's best for you, book a consultation with an expert: