Ottawa Housing Boom. Real Estate Investors and Home Owners in Ottawa are Experiencing Fast Rising Prices.

Ottawa is experiencing a housing boom and real estate investors have been making easy money in the condo market. First-time buyers are leading the way in purchases. 

"The Canada Mortgage and Housing Corporation says housing starts across the country are lagging but Ottawa boasts stronger employment numbers for people in their 20s. These are the people now looking to buy."

Numbers recently announced by the Canada Mortgage and Housing Corporation (CMHC) reveal that sales of town homes and condos are near record levels. In the last year, hosing starts have risen by more than forty percent, and there does not seem to be any sign of imminent decline. 

Ottawa has great earnings projections, increasing housing demand, and a stable employment market, all great trends for real estate investors and home owners. Especially good for developers will be the new light rail lines that should be completed in the near future. Real estate along the lines will be sought after by many of those who want to be close to the downtown core.

Drop me a line if you have any real estate or financial questions, 

Happy Investing : )

Canadian Real Estate Attracting More Chinese Investors. Real Estate Agents and Developers Target Mainland China.

Condo developments in Vancouver are selling out in mere hours as thousands of Chinese immigrants and investors are using them to make and store their money. Smart local real estate agents and developers are targeting people in mainland China in the hopes of attracting some of their capital as many Chinese citizens are becoming enamoured with the concept of real estate development and ownership. By including Chinese-specific media and targeting their marketing at mainland consumers, western-Canadian condominium developers are making a fortune. 

According to Landcor Data Corporation, an astounding 74 percent of buyers for recent luxury developments in Richmond and Vancouver were from Mainland China. Many of the investors do not even rent out or live in their units, preferring simply to leave them vacant as a store of value in a country and region that they see as safe, reliable, and politically stable. 

Toronto also is attracting significant foreign investment in real estate. A recent Etobicoke development called Westlake was largely snapped up by Mainland Chinese investors. To attract more investment, a number of realtors are opening offices in Beijing and Hong Kong to be closer to their target markets. 

For more information on this topic, check out the Globe and Mail.

Happy Investing : )