As a property investor, scouring the planet to find excellent deals is one of the best ways to build up your portfolio, enjoy a bit of travel and make some money. In fact, investing remotely in foreign lands could prove to be more lucrative that investing locally.
If you can find a country with the right kind of economic atmosphere, favourable policies and a vibrant population, then you might just make a killing as far as ROI is concerned.
Canada just so happens to be one of those countries with all the right pieces of the puzzle fitting in together. Here is a list of all the best places to invest in remotely.
A quaint Northern Ontario city, Thunder Bay has seen some excellent growth in the last few years. With a population of just over 100,000, property values here have steadily appreciated and so has the demand for good housing. Formerly valued for the fact that it was an integral stop for train and truck routes in Canada, Thunder Bay has reinvented itself as a modern day ‘knowledge economy centre’ and a gateway to the West.
Because the city attracts jobs in educational, medical and Governmental sectors, its economy has been sheltered from the economic drops that have plagued other industries such as manufacturing. The average household income here is over £64,000 and the property values have risen by 8% for the last few years. Investing in income property here makes a lot of sense.
Thanks to corporate expansion from companies such as Barcadi Canada, Air Canada, Coca-Cola and Rogers Communications, this little town has seen an incredible employment growth. Every avid income property investor knows that employment growth is good news for property investors. Because the local community has a stable income, the vacancy rate here has fallen to a negligible 0.9%. This can only mean stable rental income should you buy up property in this town.
Milton has been lauded as the ‘fastest growing city’ in this country. Its population is expected to double within the next 20 years. With such rapid population growth, a city like Milton is expected to experience some growing pains. As things stand now, the population has now outpaced infrastructure growth.
Meaning there is a need for property development. That can only mean one thing for property investors – opportunity. Buying up land and developing homes, office suites and shopping centres makes excellent sense.
These are just three of the most rapidly growing cities that present the most lucrative opportunities for property investors in Canada. Of course, there are many other locations that did not make this list but still present excellent opportunities for savvy investors. We are talking about places like Barrie, Richmond Hill and Orillia.
As a country, Canada is an excellent place for remote property investment. You just need to find the right city or location that offers the most promise and make your investment.