The real estate market in Canada has seen unprecedented growth from one coast to another. Whether it is home valuations or sales activity, there are some hot real estate markets in Canada that you should keep an eye on. For more, see listings in Kitchener. Let’s check out Canada’s hottest real estate markets in 2022!
Four of the hottest real estate markets worth investing in 2022
If you want to make a real estate investment in Canada this year, you should consider the following overlooked cities:
While Calgary usually attracts more attention than its sister city, Edmonton is an ideal option for real estate investors. Thanks to its diverse economy (from the oil industry to provincial government and health services), Edmonton has become home to more than one million people. Moreover, the city predicts its population will increase to two million within the next 20 years.
The solid employment figures and strong real estate cycle put Edmonton on the hottest real estate markets list. The average price for a condo goes to $200,000 for a duplex, and a detached home costs around $475,000.
Winnipeg has been one of Canada’s most stable real estate markets since the 1960s. Since then, the average house price has only decreased. The thousands of jobs in the transportation, manufacturing, financial services, logistics, and communication sectors have attracted new students to the city.
Due to its excellent location in the middle of the country, the city is a vital shipping hub in North America.
In 2021, the average cost for a condo was around $243,000, while for a detached home, the price was roughly $382,000. Prices have changed a little bit, but it’s still a hot area worth investing in.
Saskatoon is proven to be an attractive option for real estate investors due to several reasons:
- Diverse economy (manufacturing, transportation, and healthcare sectors)
- A steadily growing population
According to the Census Bureau, for five years (2011-2016), the city has been in the top three fastest-growing cities in Canada. Moreover, the city’s market has sharply risen thanks to the province’s mining and oil industries. The average price of sale in Saskatoon was around $366,000 in 2021.
Fredericton, New Brunswick
New Brunswick is currently undergoing impressive population growth, making Fredericton an ideal option for real estate investors. At the moment, Fredericton has around 70,000 residents and the population of the provincial capital is expected to grow for another 20 years. By 2041, the population should rise by over 50%, so the city expects thousands more jobs to be created.
The costs for a condo or single-family homes have grown by nearly 25% by the end of 2021. For example, a detached home costs around $256,000, while a condo is $216,000. Rental prices are currently going for $1,400, allowing investors to achieve positive cash flow and property appreciation.
For everyone looking to invest in the real estate market, the housing prices are expected to meet a relative moderation in the next year. In the past months, cities in the Canadian prairies have made a resurgence. Thus, it would be best to consider keeping an eye on the hottest real estate markets to ensure that your investment will be worth the money.