The Gateway to Western Canada
Discover Winnipeg's Real Estate
Named after the proximate Lake Winnipeg, the city is a sight to behold. This ancient city is situated at the intersection of the Red and Assiniboine rivers. With a stable, diversified economy, rich culture, affordable property prices, hospitable residents, and an excellent standard of living, Winnipeg is your best bet as a property investor.
Culture, History, and Business
Winnipeg, the largest and capital city of the Manitoba Province, was a trading hub for locals prior to the coming of the Europeans. A 2016 statistics reveal that the town is the seventh-most populated Canadian borough with about 778,500 residents. Popularly called the “Gateway to the West,” Winnipeg is renowned for its excellent railway and general transportation system. Like many Savannah cities in the world, Winnipeg offers a relatively low cost of living. With the high employment level, quality education, standard infrastructure, and excellent security, the city provides a high-end living standard to its residents.
This lovely city is a delight to your taste buds and eyes. Enriched with culture, delicious cuisine, and ancient architecture, Winnipeg is one-of-a-kind. The multi-ethnic city hosts various annual festivals like the Winnipeg Folk Festival, Festival du Voyageur, Folklorama, Jazz Winnipeg Festival, and the Winnipeg Fringe Theatre Festival.
Real Estate Appeal
The Canadian Real Estate Association revealed that the average house price in Winnipeg in 2019 is $316,000. This shows a steady increase in price from the previous years; however, it still offers one of the most affordable home prices amongst the major cities in Canada. On average, a two-bedroom apartment in a rental home goes for about $1,200. Statistics indicate that the average cost of a new house increased by 115%, whereas a 170% increase was recorded in the average price of a resale home.
The causative factor for the steady price upturn is the population growth and rise in demand. In 2016, there was a record-breaking sale with a boost in transactions adding up to $3.78 billion. Property prices are expected to grow in the coming years. Also, home prices are dependent on the location, size, age, and condition of the apartment. The top neighborhoods in the city are sure to offer good returns to investors.
Making real estate investments in Winnipeg will be the choice of a lifetime as the potential benefits are increasing year after year. Our succeeding articles will be discussing more reasons to invest in this beautiful city as well as the top investment locations.
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