The annual winter lull in the real estate market means that the time is good for prospective buyers who like to take their time. With Canadian unemployment at a 33 year low, the realty market looks like holding strong.
It is difficult for many of us Canadians to accept that while the US realty market may be floundering, the Canadian market is steady. In fact, due to the strength of our dollar and the weakness of the US dollar against International currencies, many Americans are actually buying into Canada to preserve their funds.
While coastal and lake areas would seem an obvious choice for American speculation, many are buying properties simply as an investment project. Renting a condo is one of the easiest way to make money and have the property ‘buy itself’, and condo sales everywhere have jumped as people are realizing the enjoyment of life without maintenance!
Condominium prices in Ottawa have been climbing upwards all year, with an increase of 7% over this time last year. The strong job market was partly the cause of this. The increase in national employment has marked the 15th. straight year of national employment growth.
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