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If you’re thinking about investing in Ottawa real estate, you’re not alone. The city is growing rapidly, and there are plenty of reasons to invest here.
Here are the top 5 reasons to invest in Ottawa real estate:
1. The economy is strong and diversified
2. The population is growing
3. The quality of life is high
4. There is a lot of new construction
5. Ottawa is a great place to live
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Economic Stability
Ottawa’s economy isIn good shape and is expected to continue growing in the next few years. This is good news for real estate investors, as it means that there will be more people looking to buy or rent property in the city. Ottawa is also a very affordable city to live in, which is another plus for investors.
Low unemployment rate
The unemployment rate in Ottawa is currently 4.5%, which is lower than the national average of 7.1%. This low unemployment rate means that there are more people with money to spend, which is good news for businesses and investors alike. Additionally, the federal government is the largest employer in Ottawa, so there is a certain stability that comes with investing in this city.
Proximity to government jobs
As the capital of Canada, Ottawa is unsurprisingly home to a large number of government jobs. In fact, the public sector is the city’s largest employer. This means that there is a high demand for rental properties in Ottawa, as government employees often prefer to rent rather than buy.
Investing in rental properties near government offices can be a great way to ensure long-term tenants and a stable income stream. If you’re thinking of investing in Ottawa real estate, be sure to check out properties in the downtown core, as this is where most government buildings are located.
Population Growth
According to Statistics Canada, the population of Ottawa grew by 4.5% between 2011 and 2016. This is higher than the national growth rate of 3.0%. This population growth is one of the reasons why Ottawa is a great place to invest in real estate.
Young population
One of the main drivers of real estate markets is population growth. When more people are moving into an area than moving out, it creates demand for housing which drives prices up. Ottawa has been experiencing healthy population growth for many years now, but what is most notable is the age of this growth.
Since 2006, the city’s population has grown by 7.4%, but the number of people aged 25 to 34 has increased by 14.8%. This is significant because this is the age group most likely to enter the housing market as first-time buyers. In fact, they accounted for almost 30% of all home buyers in Ottawa last year. This trend is expected to continue as more and more millennials enter their 30s and begin making major life decisions like starting Families and buying homes.
High immigration rate
Ottawa’s population is one of the fastest growing in Canada. Ottawa has the third highest immigration rate among Canadian cities and welcoming more than 7,200 new permanent residents in 2017. According to Statistics Canada, immigrants account for 28% of Ottawa’s population growth.
This is good news for Ottawa’s real estate market as demand for housing will continue to increase. With a strong economy and a high quality of life, Ottawa is an attractive destination for newcomers to Canada. investors who are looking to rent or sell their properties will have no shortage of potential tenants or buyers.
Affordable Housing
The population of Ottawa is constantly growing, which means there is always a demand for housing. Ottawa is a very affordable city to live in, and the cost of living is only going up. This is why investing in Ottawa real estate is a smart move. Here are the top 5 reasons to invest in Ottawa real estate.
Low cost of living
The cost of living in Ottawa is very affordable compared to other major Canadian cities. According to the most recent data from Numbeo, the cost of living in Ottawa is about 15% lower than in Toronto and 20% lower than in Vancouver. This means that your money will go further in Ottawa, and you’ll be able to enjoy a high quality of life at a lower cost.
Low home prices
There are a variety of reasons to invest in Ottawa real estate, but one of the defining factors is the low prices. The average price of a home in Ottawa is $452,000, which is significantly lower than the national average of $613,000. This makes Ottawa an affordable option for first-time buyers and investors alike.
In addition to being relatively affordable, Ottawa real estate prices have shown steady growth in recent years. From 2013 to 2018, the average price of a home in Ottawa increased by 21%. This growth is expected to continue in the coming years, making now a great time to invest in Ottawa real estate.
Good Transportation
Excellent public transit
As the capital of Canada, Ottawa is home to a variety of national landmarks and attractions, which draw in tourists from all over the world. This provides a great opportunity for real estate investors, as there is a constant demand for rental properties in the city.
Ottawa also has an excellent public transit system, which makes it easy for residents to get around without relying on a car. The light rail system, known as the O-Train, is efficient and clean, and there are many bus routes that cover the city. This makes it easy for residents to get to work or school, go shopping, or enjoy the many attractions that Ottawa has to offer.
Close to major highways
Ottawa is well-connected to the rest of Canada and the world, thanks to its location near major highways. The city is just a short drive from Toronto, Montreal and the U.S. border, making it a convenient place to live for people who travel often.
Quality of Life
If you’re thinking about investing in Ottawa real estate, you’re not alone. The city is growing in popularity, and for good reason. Here are the top five reasons why you should consider investing in Ottawa real estate.
Vibrant city life
An investment in Ottawa real estate is not just a solid financial decision, but it’s also a smart lifestyle choice. Here are the top five reasons why you should consider making Ottawa your home:
1. Vibrant city life: Ottawa is Canada’s capital city, and it has all the amenities that come with that title. From world-class museums and galleries to an exciting nightlife, there’s always something to do in Ottawa.
2. Stable job market: With the government as the city’s largest employer, Ottawa has a stable job market. In addition, many high-tech companies have made Ottawa their home, so there are plenty of opportunities for those in the tech industry.
3. Affordable housing: Ottawa has some of the most affordable housing prices in Canada. Whether you’re looking for a downtown condo or a family-friendly suburban home, you’ll be able to find something that fits your budget.
4. Excellent schools: If you have children, you’ll want to make sure they have access to excellent schools. Ottawa has many highly regarded public and private schools, so your kids will be getting a great education.
5. Beautiful outdoors: One of the best things about Ottawa is its proximity to nature. Just a short drive from downtown, you can find yourself in the stunning Gatineau Hills where you can hike, mountain bike, or just enjoy the scenery.
Safe and clean
Ottawa is one of the safest cities in Canada. It consistently ranks high on lists of the country’s safest places to live. In 2019, it was named the second-safest city in Canada and the fifth-safest city in North America.
The low crime rate isn’t the only indicator of Ottawa’s great quality of life. The city also boasts an impressive environmental record. It was ranked as Canada’s greenest city in 2019 and has been recognized as a leader in air quality and waste management.
