Kitchener and Cambridge are sharing the leading spot on the Real Estate Investment Network’s 2014 list of the top 10 Ontario cities in which to invest over the next five years.
“The [Kitchener and Cambridge] region is morphing into a high-tech and life sciences mecca,” REIN president Don R. Campbell wrote in the report. “The presence of world-leading companies such as Microsoft and Google attest to the R&D capabilities and significant competitive advantage the region has to offer. Major transportation improvements over the next five years will entice even more businesses to locate within the region as commute times and inner-city congestion are reduced."
In-migration is also strong, notes the report, with average incomes strong, the available older housing stock good and overall job growth impressive.
The two communities will remain part of the economic expansion of Ontario for the foreseeable future, concludes REIN.
The network's findings are based on such factors as the area’s population growth, new infrastructures, job creation, political leadership and transportation improvements.
Hamilton, Barrie, Waterloo and Brampton rounded out the top five, with Ottawa picking up sixth place, followed by Vaughan, Durham Region (which includes Whitby, Pickering and Ajax), Toronto in ninth place, and Milton closing the top 10.
Orillia just barely missed the cut in eleventh.
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