How will the Canadian Dollar affect the Real Estate Market?
A 65 cent dollar is great when it comes to real estate, especially for foreign investors. The low dollar makes buying real estate today in Canada cheaper than three years ago. Investors took a break from the Canadian market because the deals were much better south of the border but now with the 65 cent dollar, they are returning to Canada.
What does this mean for the Canadian investor?
It is cheaper for the local investor to keep their money in Canada. With interest rates being at a record low, it is a great time to invest in property before the increased demand puts upward pressure on prices.
What does this mean for Barrie?
The first place real estate investors look at to invest their monies are the major cities. With Toronto’s prices so high and rents not increasing at the same rate, investors are starting to look at growing cities with easy access to major hubs. Barrie, Kitchener-Waterloo and Hamilton are where most foreign investors are starting to look.
Because foreign investors prefer a more hands free investment, it only makes sense to invest in a condo. We should start seeing an increase in demand for condos in Barrie.
If you have any questions or would like to discuss this topic in more detail, please contact me at 705.816.LAMB (5262) or firstname.lastname@example.org