If you are looking for a place to invest in real estate, you won’t want to miss out on the Waterloo region. Located in Southern Ontario, the region comprises three main cities: Kitchener, Waterloo, and Cambridge.

1. Kitchener-Waterloo is a highly ranked region for laying down roots

The Waterloo region has been ranked as one of the best places in Ontario to live, work and study. It is very close to Toronto (2.5 hours drive), but much more affordable in terms of living expenses, and home prices. Residents in the region have easy access to trails, parks, and conservation areas, while enjoying a nice balance of city life with plenty of restaurants and entertainment activities.

Kitchener-Waterloo has also been known as the tech hub, as it has the highest density of start-ups in Canada, second highest in the World following Silicon Valley. Several world-class universities and colleges, such as University of Waterloo and Laurier University, play an important role in fostering innovations and technological advances. The booming tech scene in town has attracted both local and foreign professionals to come to the region, making it a very employable place in the country. 

The Kitchener-Waterloo region has been one of the fastest growing housing markets in Ontario, appreciating over 10% every year since 2017. The recent pandemic further accelerated the growth, as more people chose to work from home, and needed a more spacious and affordable home outside the GTA. You may wonder whether this growth momentum is going to last, especially given that the average property value is already significantly higher than a few years ago. And the good news is yes, it is very much likely to last, as the Waterloo region is backed with a strong economy and solid demand for home ownership. 

‍

2. Future-forward city 

Strong population growth

The Kitchener-Waterloo region is home to 575,847 people. Its population has grown 10.1% from 2016 to 2021, making it the third fastest growing census metropolitan area (CMA) in Canada. The population is projected to continue growing at a record setting rate: a total of 46% by 2046. Additionally, the Kitchen-Waterloo region is expected to have the highest share of younger generations aged from 15-64. 

Highest employment rate

The Kitchener-Waterloo region has one of the strongest labour markets, thanks to the high employment demand from sectors such as information technologies, automotive, and food processing. The region ranks second for the highest employment rate in Canada. The unemployment rate, currently at 5.4%, is also the lowest unemployment rate among the nearby CMAs including London, Guelph, and Barrie.

Home to Google, and other start-ups

The region is a world-renowned tech hub. It is the home for more than 1,000 technology companies, ranging from large firms such as Google and SAP, to fast-growing startups like Faire. With several universities nearby, Waterloo is the perfect place for recent graduates to start their professional career. 

Heavy infrastructure investment

Kitchener-Waterloo has invested heavily in infrastructure to support growth throughout the region. It is the second largest spender on infrastructure developments in Ontario (immediately following London), with over $13,000 per capita per year. Just to name a few, this includes all-day GO train service between Kitchener and Toronto, an international airport that doubles its current capacity, and an expanded cycling network. The reliable and continuously-improving infrastructure, together with a burgeoning job market, has been attracting countless professionals to the city. 

‍

3. A great choice to invest in real estate

‍

The Kitchener-Waterloo region has been one of the hottest real estate markets in Canada. With a 5-year historical annual property appreciation rate at 14.6%, an average single family home that was worth $403,300 in January 2017 is now worth $924,900.

This market is strong because of its healthy fundamentals including an attractive job market, migration of new talent, and investments in infrastructure.