Burnet Condos at Rise & Rose Richmond Hill
10944, Yonge Street, Elgin Mills, Richmond Hill, ON Details
Why You Should Invest In Edmonton?
Young Population
One of the things that makes Edmonton an appealing area for investors is that the population tends to skew younger: the median is 35.6 years of age. This age range are likely to be attracted to the types of units you can buy with new construction homes.
Positive Market Situation
While no real-estate investment is without risk, Edmonton real-estate market has shown market over the years. This stability helps mitigate some of the uncertainties associated with real estate buying and selling.
No Closing Costs
No Provincial Sales Tax, No Land Transfer Tax, No Development charges, No Education & Levi charges. The closing costs for buying a home in Edmonton are among the lowest of major cities in Canada.
Double Digit Grwoth
Edmonton real estate & rental prices have increased tremendously in double digits percentages over the past couple of years, and this trend is expected to continue with growing population from immigration.
Booming Economy
With a flood of oil revenue during pandemic, AB invested in to diversify the economy. Growing sectors with high job demand include: Logistics, Tech, Health care, retail, construction & trades.
Industrious Edmonton
The Edmonton region includes an inland port known as Port Alberta where air, rail, pipelines, and roadways meet within a Foreign Trade Zone. Edmonton, along with favourable regulations, make it an international manufacturing, cargo, and logistics hub.
Edmonton Market Projections 2023
Lending Rates
With rates not expected to ease until 2024, higher lending rates throughout 2023 are expected to weigh on housing market demand.
Migration
Recent gains in migration are expected to offset the impact of higher lending rates, keeping sales activity stronger than pre-pandemic levels.
Employment
Recent job growth in industries beyond what was impacted through the pandemic is expected to prevent a more significant adjustment in sales activity.
Economic Indicators
While AB will feel the impact of inflation and higher lending rates, a stronger energy sector & migration growth will help. As a result, most forecasters expect Alberta’s growth to outperform most other provinces.