New Condos in Waterloo
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About New condos in Waterloo, Ontario
Known as the “university town,” Waterloo is an excellent area to raise a family.
It is one of the “tri-cities” that comprises Cambridge and Kitchener. Apart from their proximity, these three cities have a number of similar features, one of which is the public transit system. Likewise, the tri-cities are sometimes termed as Waterloo region.
Waterloo’s growth has been far quicker than Toronto’s. Between 2012 and 2017, overall tech jobs in the Waterloo Region increased by 29 percent. This stands extremely outstanding when compared to other parts of the state.
Due to these reasons, the city is attracting investors for the new developments, notably the condo developments.
Real Estate Market in Waterloo
The city’s real estate market has the highest opportunities of any town in Southern Ontario.
The highest percentage of Waterloo’s population is the students due to the existence of top-tier universities in Canada, University of Waterloo and Wilfrid Laurier University.
After students, comes the professionals and post-secondary graduates who are here because of vast employment opportunities.
For instance, international companies such as Sun Life Financial, Shopify, Manulife Financial, Google, etc. all have their offices here. However, Manulife and Blackberry are the leading employers here.
The prices of condos in Waterloo have seen drastic changes. So, rather than owning a home, fresh graduates choose to rent, which is where new investment condos prove useful.
The average rental rate is CAD 1100. This is on top of a 4.2 percent rental increase rate over the last ten years. The vacancy rate for apartments is presently at 2.9 percent, indicating that demand is still high.
The average price for house resales is currently around CAD 483,275 per square foot. For the last ten years, its appreciation percentage has been 5.5 percent.
With the current rate of growth, Waterloo will soon be considered the most thriving Southern Ontario’s city. Moreover, now is the greatest time to get home before market prices skyrocket!
Living in Waterloo
Having a Waterloo home can let you all enjoy various gorgeous parks and green spaces within close proximity. Waterloo Park is a renowned one with many games. In addition, you will see several supermarkets and golf courses around.
Education
The University of Waterloo is the largest with 35000 students enrolling every year. It has been regularly ranked as the country’s top innovative university. Students who want to go for an engineering program must go to this public research university.
Despite having smaller student body than the above-mentioned university, Wilfrid Laurier University is perfect for business programs.
Apart from these two, Conestoga College is yet another option for learners in Waterloo. One can locate it at the end of the Kitchener Waterloo area. Computer technology, as well as, Business Management are the top courses here.
Between 2012 and 2017, total tech employment in the Waterloo area increased by 29%. Thus, the post secondary education available in this area aims to make sure that the tech industries continue to meet their demands from this city.
Accessibility
King Street, which runs across all three towns, is the region’s main municipal street. So, you may commute from Uptown Waterloo to Concession Road via this route.
Drivers have the major highway that runs the length of Southern Ontario, connecting some of the country’s main economies.
Have you heard about the Grand river transit that the three cities share? It is the single public transit service that serves as many passengers across their individual communities as well as from one city to another. Therefore, you can have convenient access from Waterloo to Cambridge sans changing trains.
With the arrival of the “ION rapid transit network,” public transportation in Waterloo is about to get a big improvement. As a result, this will fill the role of the iXpress bus system. iXpress offers direct routes to additional remote portions of town.
The first part will connect northern Waterloo and southern Kitchener, following the second covering Cambridge. Downtown Kitchener is also on the list of getting served by this system.
This expanded service will bring the Tri-Cities closer together, resulting in the emergence of a new thriving urban centre.
List of New Condos Waterloo
- Q Condos
- Wildflower Crossing
- 197 Frederick Condos
Want to invest in any pre construction condo project in Waterloo? Contact us today to get your platinum access for all the information.