If you’re looking to diversify your real estate investments beyond the major, red hot markets like Toronto, Vancouver, and downtown Montreal, there are many other up-and-coming places in Canada that present many intriguing investment opportunities away from the busy city centre.
While Brampton, Ontario- located in the Peel region- may not get as many headlines as Toronto, Vancouver or Montreal, the fact remains that it’s one of the fastest growing cities in Canada. It’s the ninth largest in the country, and its real estate market has been on the upswing. “Strategically located” near Toronto, the area has a low vacancy rate and strong sales, with the typical home only spending seventeen days on the market. It’s a growing young community and a place popular with young families, with the drive to Toronto being a relatively easy commute for those who work there.
Another of the fastest growing cities in Toronto is Markham. Located in the York regions, what makes this an attractive city to invest in is not only its proximity to Toronto (a less than forty-minute commute by car) but the fact that it’s also the place many multinational companies have opted to call home. IBM, Lenovo, Hyundai, Honda, Johnson & Johnson and Huawei are just some of the companies with their Canadian HQ’s located in Markham. As such, it’s been called the “Silicon Valley of the North” and a place where homes are always in strong demand.
Moneysense lists Windsor as the top Canadian city to invest in for 2019. Located just across the border from Detroit, it was among the Canadian cities hit hardest by the recession, but things have turned around. So much, in fact, that last year the vacancy rate fell to 4% while year-to-year sales increased by 22%. Homes are still relatively reasonable there (an average price of $322,109 – up 20% from the previous year), making it something of a hidden gem.
This south-west section of downtown Montreal has benefitted tremendously from urban revitalization projects in the city. Formerly the home to vacant industrial lots, it’s been thoroughly transformed over the years. Consider this – in 2011, only 6,446 lived in the area. The population has expanded more than 600% since then, with it particularly popular for condos. It’s also just minutes away from downtown and borders the beautiful Lachine Canal.
Part of Montreal’s West End, this diverse community has long been considered a commercial and cultural hub for Montreal’s Anglophone community. It’s a sprawling neighbourhood with excellent investment opportunities, particularly now that it’s the home of Montreal’s new English super hospital, The Glen. Monkland village caters to a younger, hip demo, while further east, you start to border on Westmount, getting a touch older. There are plenty of investment opportunities there for a savvy real estate investor, and it’s still one of the most desirable places in the city to live.