At Your Realty Group, we’re delighted to unveil the top reasons for Kingston investment, in a city we proudly call home. Drawing upon our local expertise and dedication to delivering top-tier real estate opportunities, here’s why Kingston stands out as your next investment choice:
A Thriving Economy for Kingston Real Estate Investment
In Kingston, beauty meets brains. Our city boasts one of Canada’s most educated workforces, with a remarkable concentration of Ph.D graduates per capita. This educated populace has been instrumental un earning Kingston accolades, including a coveted spot on Site Selection Magazine‘s prestigious list of the Top 20 Places to Invest in Canada (2019). The flourishing startup ecosystem, ranked 9th in Canada by StartupBlink in 2021, adds to Kingston’s economic dynamism. Diverse industries, spanning manufacturing, public administration, healthcare, agriculture, and mining, await investors, offering access to a wealth of market opportunities and top-notch talent.
Surging Migration: A Magnet for Kingston Investment
Kingston’s allure is evident in the significant uptick in migration, making it a magnet for potential investors. The CMHC Rental Market Report (January 2023) revealed a remarkable 30% surge in new permanent residents choosing Kingston during the first three quarters of 2022 compared to the prior year. This migration surge is largely driven by expanding employment prospects, especially among individuals aged 25 to 44. Furthermore, the return of students to esteemed institutions like Queen’s University and St. Lawrence College has intensified the demand for rental accommodations, transforming Kingston into a prime real estate investment destination.
Tight Rental Market
The Kingston rental housing market has undergone significant tightening, resulting in an impressively low vacancy rate of just 1.2% in 2022, ranking it the second-lowest in Ontario. This trend follows a record-low vacancy rate of 0.6% in 2018, underscoring the growing demand for rental properties. With limited affordable rental options, rents for two-bedroom units witnessed a remarkable 21.6% surge in 2022. Such market conditions present lucrative opportunities for investors seeking attractive rental income in Kingston’s thriving real estate landscape.
Rental Market Potential in Kingston
Kingston’s rental market is vibrant and brimming with potential for investors. Despite an increase in housing supply, the scarcity of affordable rental options has led to a substantial upswing in rental prices. This underscores the robust demand for rental properties, promising rewarding returns on investment for savvy real estate investors.
Exponential Growth Fuels Investment
Kingston’s population growth rate gas positioned it as an auspicious investment destination. Ranked as the 9th fastest-growing mid-sized CMAs in Ontario from 2016 to 2021, Kingston’s population is projected to surge by an impressive 22.74% between 2021 and 2041, welcoming a staggering 33,278 new residents. The Cataraqui Westbrook/Cataraqui North area alone has witnessed a population increase of over 20% and is projected to maintain a similar growth trajectory in the decades ahead. This remarkable growth outlook signals a prosperous future for investors in Kingston’s real estate market.
Strategic Location
Investing in Kingston grants you a strategic advantage due to its prime location within the Toronto-Ottawa-Montreal corridor. This strategic positioning provides seamless access to a population base exceeding 14.5 million people, encompassing 40% of all Canadians. Kingston’s strategic advantage opens doors to a vast pool of potential customers, making it an ideal destination for businesses and investors alike.
Your Commercial Real Estate Expert: Patrick Hulley
When it comes to commercial real estate in Kingston, there’s no one better suited to guide you than Patrick Hulley, Broker of Record, at Your Realty Group. Patrick specializes in helping investors navigate the world of commercial real estate. His extensive knowledge and experience ensure that you make sound investment decisions in this lucrative market. For commercial real estate opportunities in Kingston, visit commercialsource.ca and let Patrick Hulley and Your Realty Group be your trusted partners.