Municipal governments are starting to put green standards in place for developers and builders to follow to help protect the planet. But will it really work?
In its latest study, real estate portal Point2 Homes found that quality employment and housing affordability are two of the most important factors that push Canadian millennials toward certain metropolitan markets. The report added, however, that “this upbeat generation obsessed with life-work balance is looking for more than just a well-paying job and a nice house. They want engaging leisure activities, opportunities to socialize with other like-minded millennials, eco-friendly resources, and a safe but exciting city where they can thrive.” The Point2 Homes analysis found that 7 of the top 10 best cities for millennials have less than 500,000 people living in them. Quebec City stood as the most appealing Canadian city for millennials, taking into account its unemployment rate (the 3rd lowest in the country) and its healthcare index (the 8th best nationwide), along with affordable housing, above average wages, and low incidence rate of crime. Read more: Luxury real estate destinations to look out for in 2018 Langley Township, BC ranked as the least tempting place for millennials. This is because despite the locale not having any problems when it comes to employment, “it also has a high crime rate and a low percentage of millennials living here. And although a home in Langley sells for less than half the average price of a Vancouver property, its housing market is still severely unaffordable, which puts the township at the bottom of the list.” Surprisingly, the country’s largest cities – Toronto, Montreal, Vancouver, Ottawa, and Calgary – did not make it even to the top 5 most desirable housing destinations for members of Generation Y. The full study can be viewed here. Related stories: Hidden gems could be in 905 next year This housing segment appreciated fastest in 2017
The survey shows that buying a home in a major city centre has risen 5% since last year.
The more time and money a developer spends navigating the extensive labyrinth of procedural processes, the costlier it becomes to build a new home.The more time and money a developer spends navigating the extensive labyrinth of procedural processes, the costlier it becomes to build a new home.
Coming to Toronto May 14-15 is an in-person event discussing multifamily investing and the benefits it can have for new and experienced investors.
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Many Torontonians and GTA investors perceive Windsor in a different light. But the reality is, it's a growing city that has much to offer investors, homebuyers, students, immigrants, and retirees alike.
While Calgary has continued to increase in popularity, prices have remained steady unlike in markets like Toronto and Vancouver. It holds many benefits for investors.
The Scott McGillivray Real Estate Fund helps people understand passive real estate investing. Scott McGillivray himself has been speaking to people about how to invest in real estate for over 15 years.
From February 2022 to April 2022, there have already been significant price decreases. However, that doesn't mean affordability is around the corner.
According to OSFI, the real estate market in Canada has seen a massive run-up resulting from low-interest rates and supply/demand imbalances.
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