Improving economy, falling property prices and banks initiative for easing the mortgage conditions are the major factors that are compelling people to invest in the Canadian real estate. Consequently, more and more people who can afford are thinking of buying a vacation home in Canada. Whether they are just buying a second home for spending vacations or for starting a rental business, it is a great time to step into the real estate market of Canada. Choosing the right property or home can really make a big difference so if you are also thinking of investing in a vacation home then choose the best place keeping in account all the major factors. In this article, we’re going to discuss the 5 best places to buy a vacation home in Canada. Read on to find the healthiest real estate markets.
Guelph, Ontario
The Royal city having a vibrant community and stable real estate market offers great opportunities to its residents. The affordable housing, low crime rate and the lowest 1% vacancy rates make Guelph the best place for investing in the real estate. The low crime rate and decreasing vacancy rate show that owners do not have to do hard work for finding tenants. The great educational and employment opportunities, green firms and a number of popular manufacturing industries are attracting lots of people to start their career in Guelph.
Regina, Saskatchewan
Another great city of the province Saskatchewan, Regina is the best place for buying a vacation home in Canada. Many foreigners have been investing in the Regina condos and vacation property because of its diversified economy. With lots of employment opportunities, the city still offers the affordable housing prices in Canada.
Victoria, British Columbia
Victoria is a beautiful Island destination has a stable real estate market, attracting hundreds of buyers. The average home price is $585.745 and small condominium unit prices start from $200,000 so there is a wide range of housing options available for the buyers. The stunning views and great opportunities make it the best place to buy a vacation home. Many foreigners are investing in Victoria’s real estate market.
Thunder Bay, Ontario
It is the largest city in Ontario which is a house of educational institutions and healthcare services. Most of the people are moving to Thunder Bay because of their education and career and consequently the demand for real estate is increasing because of migration. However, the housing prices appreciated approximately 8.4% but still buying vacation home is affordable.
Saskatoon, Saskatchewan
The largest city in Saskatchewan has faced a downfall in housing prices, offering more affordable and favorable housing options to the investors. The average home price is $338.738 so you can buy luxurious Saskatoon condos and vacation homes at very competitive prices. The average 17% increase in the rent is also a plus pint for the buyers as they can leverage by renting their vacation properties. It is one of the fastest growing city so the property worth will also increases in coming future.
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