Anxious investors wanting to get into the hot Winnipeg market are being advised to stop panic buying and wait for ‘that’ perfect property.
In the wake of big property players snapping up portfolios of multi-family developments, investors are trying to act quickly and get in the market as prices continue to rise.
“We have a situation now where we have bidding wars for multi-family properties. We had one big player who came into the market and bought over $100 million worth of multi-family units. That just shows the strength of the market,” says Marco Silvestri from Silvestri Capital in Winnipeg.
The rejuvenation of Winnipeg’s downtown core has also seen a surge of condo sales, with sales increasing by 14 per cent for the first eight month of the year.
Winnipeg has traditionally attracted a high rate of immigrants, with any change in government policy touted as the ‘big fear’ that may have a negative impact on the market. Silvestri, however, believes this would only put a small dent in the market as there are enough employment opportunities to entice young professionals to remain in the city.
“It would only impact the rental market, but I think there is enough domestic and international demand to sustain Winnipeg’s market.”
Silvestri will provide more insights and advice on investing in Manitoba's capital at the forthcoming Investor Forum Winnipeg on Saturday, November 23. He is one of many local and national experts that will show how investors can get a slice of the hot Winnipeg market.
Book your tickets today @ www.winnipeg.theinvestorforum.ca
Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate