Are you looking to invest in the Regina real estate market? Are you curious about the Canadian housing market and the best cities to invest in?
Investing in Regina real estate creates more income sources for you and, as a result, is one of the best ways to generate passive income. Having a rental property means you can rely on a monthly rental payment. Over time, your property also appreciates allowing you to raise the rental rates or sell off your property with a tidy profit with the help of Saskatchewan realtors.
Yet, according to the Canadian Real Estate Association, the value of Regina real estate and its market can differ greatly depending on the neighborhood, so it’s important to always conduct thorough research when you plan on investing in any particular real estate property. It’s not only important to consider the condition of the property you are planning on investing in, but the area that property is located.
Does the area have a strong job market? Is the quality of life the area offers considered as high-quality? Is the local economy strong and does it show signs of economic growth? Are there many local attractions that tourists would enjoy visiting? Is the rental market activity performing well? Are interest rates favorable? Sakatchewan realtors can help you figure that out!
The Canadian Real Estate Association counts Regina as a great investment opportunity place to invest in because the it has all the qualities of a lucrative property market! The Regina real estate market is a wonderful choice for investing.
In this article, our real estate professionals cover all the excellent reasons to buy real estate in Regina. You’ll discover the reasons for this area’s high property investment returns. Let Cressman Realty & Property Management help you discover the perfect property!
Why Invest in Regina, Saskatchewan?
1. Strong Economy
A major factor contributing to the attractiveness of investing in Regina is its economic growth and stability. It is driven by major industries in steel and manufacturing, energy, information technology and agriculture.
Its key employers are the local government, Evraz Inc., Co-Op Heavy Oil Upgraders, Bayer CropScience and ADP. Given the thriving economy, it’s easy to see that real estate investors can expect stability in cash flow when it comes to property investments.
2. Population Growth
Regina’s population is recorded to be around 215,000 per the 2016 census (Wikipedia). It’s also estimated to be reaching around 263,000 in 2020 according to Statistics Canada. The residency growth is calculated to be at 2.27 per cent per year.
Apart from being categorized as among the fastest growing cities in Saskatchewan, Regina is also ranked as a young city. Only a small percentage (12.7%) of residents are over 65. This is due in large part to high immigration numbers. Having a young demographic in Regina ensures a future stable workforce contributing to a successful economy. For real estate investors, this means a predictable high housing demand for rental properties.
3. Affordable Real Estate
In Regina, affordable housing prices are a priority of the government as new listings go up every day and there has been some recent upward pressure on affordability. The residential benchmark price for a home in Regina is around $309,000, while an apartment’s average price is $262,450. This depends on the number of rooms, though. Buyers can pay only $132,400 for a single bedroom, $214,950 for a 2-bedroom, $304,900 for a 3 bedroom and $357,900 for a 4-bedroom house, and putting out new listings is a priority.
Regina properties are reasonably priced given the city government’s focus on affordable housing. You may find that the prices for a new home in Regina are favorable, with the average home prices being lower than other cities. As an investor, this is advantageous for you. You can shop around for different types of property to convert into rentals given the low housing costs in this area.
4. A Hot Housing Market
In Regina, the market for real estate shows considerable growth as new listings continue to pop up. It has experienced a 75.5% increase year on year growth as of January 2021. Residential home sales have never been better! It has shown sales of 32.4% above the 5-year average. Based on the MLS Home Price Index, the year-over-year growth of home prices is up by 4.7 per cent.
Homes only stayed on the market for an average of 57 days in comparison to 84 days in January of 2020. Sales volume has also increased as the demand of the Regina market continues to grow, active listings making up a large part of investors’ profits. When listings remain unoccupied, they’re often rented out soon after. To meet the sales volume demand, prospective homebuyers are jumping in on the real estate market at a record high when compared to other years.
5. Good Local Education
If your chosen demographics are families with school aged children, you’ll find that investing in a rental property in Regina is a great decision. Parents can easily access a quality school in this city while having a diverse range of choices. Family homes sold in an area with a good school system can often sell for higher prices than other homes of the same property type in different areas.
Regina enjoys a good number of visitors considering its historical appeal. This is readily apparent in their heritage buildings that dot the city. For culture enthusiasts, Regina is filled with museums, performing art venues and exciting events. One is certain to find wonderful things to do. There are also plenty of green spaces and parks for those seeking a nature retreat.
Regina’s quality of life is unquestionable and the Regina real estate market is booming. The economy is excellent and built on strong pillars of industries for growth. It has both a fast growing and young demographic of residents. Real estate’s sales are rising, and the properties are affordable. Moreover, families will appreciate the access to quality education given the long list of varied schools found in this city and the amount of new listings showing up with an affordable price.
If this is your first time investing in the housing market, the services of a professional may be beneficial for you. It can eliminate guesswork and committing the usual mistakes. Instead, your time is well spent since the process is easier leading to reduced stress for you.
You don’t have to identify real estate professionals on your own, we’ve made it easy for you! Contact Cressman Realty & Property Management today to find your perfect investment property in Regina!
CRESSMAN REALTY & PROPERTY MANAGEMENT
155 Leonard St. N.
SK, S4N 5X5