Real estate: where to invest in 2024?

Are you planning to invest in real estate in 2024? In addition to the characteristics of the ideal house to buy, you may be wondering where to invest?

Discover our complete guide to investing in Canada and Quebec in 2024.

Why Invest in Real Estate in Canada in 2024?

First, know that Canada is a very popular destination for investors from all over the world. The land has many advantages that make it ideal for realizing a real estate transaction.

Indeed, the population continues to grow with an ideal quality of life in many cities across the country. This reflects demand, both for purchase and for rentals, which is constantly evolving every year.

In addition, Canada offers a solid banking system with some of the most reputable financial institutions in the world. Finally, economic and political stability of the country it allows investors long-term planning in the context of their operations.

Where to invest in real estate in 2024 in Canada?

Toronto, Ontario

With a population of nearly 3 million, the city of Toronto offers a dynamic real estate market. The median home price is $1,250,000. If you want to invest in it, it is therefore better to have good financial options.

Within the metropolis, the market offers many different categories of real estate. For example, in certain old neighborhoods we can find beautiful houses steeped in history, as well as new apartment towers that sometimes rise several tens of stories.

We also note that Toronto is one of them 10 cities in the world where it is best to live according to The Economist Intelligence Unit (EIU). It is also known as one of the best places to do business and was recently ranked as the 14th largest economy in North America.

Neighborhoods to invest in in Toronto

Due to the high cost of living, real estate investment is more suitable for wealthy people, regardless of the target area. If you find yourself in this situation, you can focus on the sector Leaside. It is located near the city center and is characterized by numerous townhouses. This is an opportunity to explore if you want to buy yours first headquarters in a quiet corner.

Properties in the western part of the city center also offer very good prospects for investment in rental properties. In another register of the purchase of an apartment Bloor-Ossington is ideal but it will cost you more in terms of your budget.

Calgary, Alberta

With a population of 1.3 million, the city of Calgary offers plenty of real estate for potential acquisition.

One of its advantages is that it offers a unique environment with the possibility of numerous outdoor activities on the outskirts of the city. It is also one of the 3 Canadian metropolises ranked among the 10 most livable in the world.

Level Market value to buy, the median property price is $635,000. The purchase price, which thus remains affordable for a large number of investors.

Neighborhoods to invest in Calgary

If you are looking for a trendy place where life is pleasant, the district Beltine Calgary can be a good investment opportunity. It is located near the city center and offers affordable acquisition costs.

At the same time, the sector Lake Arbor, rather residential, is popular with families. Finally, that of Crescent Heights it has an ideal location, a stone’s throw from the city’s commercial activities.

Vancouver, British Columbia

Metropolis Vancouver is also part of the top 10 most pleasant cities to live in according to The Economist Intelligence Unit ranking. In addition, we note that it is the largest city in British Columbia with a population of 675,000. There are a remarkable 5,249 per square kilometer, reflecting the high density.

The city also benefits from very beautiful surrounding nature. It has a strong economic dynamic, which is mainly driven by the tourism sector. However, the median property price is high at $1,210,000.

Neighborhoods to invest in in Vancouver

First,west end cities offer a comfortable living environment between residential and commercial spaces. This is a good place if you want to invest especially in commercial real estate.

It is located to the west of the city, district Kitsilano is then characterized by beaches and shops. Its proximity to Columbia University attracts many students each year. This represents a good opportunity if you want to invest in a rental property.

Finally a fashionable district YaleTown offers more luxurious accommodation.

Looking at Vancouver Island

Vancouver Island is a particularly interesting sector for investment in the metropolis because it is experiencing strong economic growth. Evidence of this dynamic is the significant imbalance between supply and demand, particularly in the capital city of Victoria.

However, there is a wide selection of properties available for purchase among the offers on the local real estate market. This is characterized especially by houses by the sea, but also by less modern housing. This sector allows you to make a safe investment in rental properties in one of the lowest housing vacancies in Canada at 6.5%.

The amount of old housing allows you to do this at the same timebuy a property to renovate for quick resalewith the goal of generating profit with traffic.

Why Invest in Quebec Real Estate in 2024?

If you are in a province,real estate investment in Quebec in 2024 represents a good solution for building long-term assets. So you can invest in economically dynamic cities like Montreal and Quebec. In addition, the cities of the province are mostly French-speaking, which can make the procedures easier for you if you do not speak English.

Where to invest in 2024 in Quebec?

Montreal

One of the best opportunities for real estate investment in Quebec is in Montreal. With a population of 1.8 million, the city has many options.

On a daily basis, it offers a unique environment for life with a number of cultural events, especially in summer. In addition, the amount of available public transport makes life easier for its residents. Montreal’s economic dynamism also no longer needs to be proven, with real estate programs popping up every year.

If prices are high in the city, the acquisition costs stay there more affordable compared to other major Canadian cities such as Toronto or Vancouver. The median property price is actually around 500,000 Canadian dollars.

Neighborhoods to invest in in Montreal

There are several neighborhoods that are relevant for investment in Montreal. Formerly industrial, that of Griffintown has undergone a transformation that now ranks it among the most beautiful places in the city. It has many new apartments and investing in this area is more suitable for larger portfolios.

After that, Plateau Mont-Royal is a cultural hotspot that has many bars and restaurants and may be relevant to a rental investment in Montreal. Finally, the sector Rosemont –La Petite-Patrie it is popular with families thanks to its restaurants, cafes and schools.

Quebec

With a population of around 550,000 people, Quebec City is the administrative city of the province of the same name. The city has a past steeped in history, as evidenced by the Old Quebec sector, a UNESCO World Heritage Site.

When it comes to acquisition prospects, median property prices are very affordable for first-time buyers. In fact, they are at $240,000 for a condominium in the Quebec CMA and $350,000 for a single-family home.

Neighborhoods to invest in Quebec

Quebec City is full of lots quarters in which it is relevant to invest. Neighborhood Montcalm it offers a pleasant living environment with many places within walking distance, such as the Plains of Abraham, as well as an abundance of green spaces. However, note that the sector will suit wealthier investors.

For a more reasonable investment budget, it is in the direction of approx Cap-Rouge that we will have to turn around. There are truly luxury homes at more affordable prices than in Montcalm. Numerous green spaces and nearby shops will be ideal for people looking for a relaxing environment.

Finally, the former labor sector New Saint-Roch has been updated in recent years. Now transformed into an arts district, it is full of theaters, bars and restaurants. It mainly attracts young people, which makes it an interesting rental investment in this area.

Where to invest in commercial real estate?

Finally, it is possible that you specifically want to focus on a investment in commercial real estate. According to Statistics Canada’s Gross Domestic Product (GDP) report, several cities experience strong economic momentum and are relevant to achieving this specific goal.

The report reveals this half of the national GDP is produced by the 6 Census Metropolitan Regions (CMAs) which have a population of one million or more:

  • Montreal
  • Vancouver
  • Toronto
  • Edmonton
  • Ottawa-Gatineau
  • Calgary

The relevant commercial real estate investment must therefore be made in one of these cities.

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