MoneySence magazine published its "Canada's Best Places to Live 2015" list. Based on jobs, affordability, weather and based on these measure Ottawa is the second best place to live in our great country. Although Ottawa is a great place to live, let's look at reasons why real estate investors should invest in Ottawa.
With the federal government employing over 110,000 people and over 1,900 technology companies employing over 75,000. The number of jobs is great, but the fact that many are high paying jobs is even better.Ottawa is a great town for real estate investors to rent their properties to those who can afford market rent rates and the yearly rent increases approved by the Ontario government.
Ottawa's five year population growth rate is at 8.8%, this is faster than both the provincial average 5.7% and the Canadian average of 5.9%. This means that Ottawa's population is growing due to folks moving here from all over Canada plus immigration.. People need homes to live in which helps keep the rental demand high.
Historically Ottawa has a low overall vacancy rate of 2.6% so the demand fro rentals is strong. Major projects like the Light Rail Train(LRT) Confederation Line are transforming the city's transit system and revitalizing a large number of communities while creating jobs at the same time. these projects are renewing ares such as Lebreton Flats, Old Ottawa East, and Little ;Italy and investment opportunities can e found in these neighbourhoods as well as all over the city.
As you can tell, Ottawa is a great place to live - it's also a great city to invest in.