Top 10 places in Ontario to invest in 2019

BY: JAY BRIJPAUL 

Ontario is a beautiful place with over 415,000 square miles. Approximately 40% of Canadians work and live here. It has a thriving economy and attracts both foreign and local investors. Compared to other provinces, real estate in Ontario is in demand because of the high rate of employment, good income and expanding population. The Real Estate Investment Network (REIN), provides in-depth research on trends and found that there are 10 cities in Ontario poised to outrun the others.

The first pick is our capital, Ottawa. Ottawa has a stable real estate market with a low rental rate of 1.7%. Being the capital, there is plenty of employment in various government agencies. Ottawa has a thriving high-tech sector and attracts a younger age group. Condo prices are about half compared to Toronto, making it a popular relocation destiny.

Next are Kitchener-Waterloo and Cambridge. They are known as the Tri-Cities, just about 62 miles west of Toronto, and host a large manufacturing and high-tech industry. It is known as the second Silicon Valley. The three top-notch universities attract students worldwide and create additional employment. The prices are affordable, and the vacancy is low.

Hamilton, known as the port city of Ontario, has a population of over 700,000. It is the home of McMaster University and many colleges. Hamilton has the third largest manufacturing sector for food and beverages in North America. Millennials make up 28% of the population and a well-educated workforce is essential for growth.

The city of Barrie is known as the gateway to cottage country. Sitting on the western arm of Lake Ontario, Barrie is only a 30-minute drive from Toronto. With the addition of the GO train, many commutes reside there because of affordable homes. The population is about 200,000, half of which works in Barrie. It is one of the safest cities in Canada. Barrie is considered an economic powerhouse house with one of the youngest demographics.

Brampton hosts a population of over 600,000 and is ranked as one of the fastest growing cities in Canada. It is among the best places to raise a family with lifestyle amenities such as nature trails to recreational centers. Do you know that Brampton is also a debt-free city? Brampton’s population is expected to double within the next 25 years.

With Ontario’s growing film sector, Durham takes the cake.  Located in the Golden Horseshoe, with a population of over 700,000, Durham is one of the best places to invest. This region is well known for its support for small and large businesses. The region has a strategic location and is well connected to the GO, 400 series highways and deep ports. 

Toronto comes in at number seven on the list with a population of about 3 million. It is among the most multicultural and cosmopolitan cities around the world. Toronto is a growing city with world-class amenities from top universities to modern research centers. With higher home prices and double land transfer tax, many investors are afraid but it is a vibrant world-class city to invest in.

Kingston, with a population of about 168,000, is only 30 minutes from the US border and about 2.15 hours from Toronto. Strategically located, it offers logistics and transportation services to Canada, US, and Mexico. Kingston has one of the lowest corporate tax and it is an all-inclusive community with a vibrant array of over 200 restaurants.

This is a good time to invest in Orillia. The city lies close to the waterfront of Lake Simcoe. Recently, Hydro One agreed to infuse between 200-300 million dollars on its advanced technology hub here. The city has undergone a major revitalization of its downtown core and large businesses are moving in. 

Located in the Niagara region, Grimsby and St. Catharines are the next best places to invest. In the past year, real estate prices jumped by nearly 58.8%. The population is approximately 160,000 with manufacturing being the main industry. They are recognized as an urban growth center with low vacancy.

Success in real estate is knowing where to invest. Now it’s up to you to start the engine and drive forward. As the great Warren Buffet said, “In the business world, the rearview mirror is always clearer than the windshield.”