With a rich history, an ideal location and a strong economy, Belleville is an ideal place for first-time and experienced investors alike. Renewed investments in infrastructure and optimized approval processes make Belleville the perfect choice for developers and investors who want to be a part of the city’s continued growth in the coming years.
Table of Contents - Benefits of Real Estate Investing in Belleville
Belleville - A city rooted in history
Located in Eastern Ontario, Belleville sits along the Quebec City-Windsor Corridor between Ottawa and Toronto. Belleville was first settled in the late 18th century and its rich history is on full display to tourists who visit the city today. First settled as a small village in 1789, Belleville was soon shaped by prominent families, including industrialists and philanthropists who helped shape it into the city, it is today. Early on in its history, Belleville was home to a sawmill, a grist mill and a distillery, which provided employment in the region and drew new settlers to the village. In the 1830s, a philanthropic family established the Corby Charitable Fund to raise funds to build the first bridge across the Bay of Quinte. The same family developed parks and donated a public area, improving livability for residents and attracting newcomers to the area.
By the mid-1800s, Belleville was home to over 2,000 people. The village had several stone buildings, a jail, a courthouse, seven churches, a post office and several industrial buildings. Through the 1800s, industrialization shaped the area through electricity, telephone connectivity and population growth. In 1877, Belleville was legally incorporated as a city. Today, Belleville has a population of over 50,000 people, but there are still reminders of the city’s history. Many buildings constructed in the 1800s are still standing in Belleville today. These buildings have been preserved to promote tourism and maintain the historical authenticity of the city. Belleville boasts a vibrant, revitalized historic downtown district that is a huge draw for visitors and investors alike.
Belleville is in n ideal location
Belleville is situated in an ideal location on the Bay of Quinte at the mouth of the Moira River. Positioned between Toronto, Montreal and Ottawa, Belleville is the perfect place for people who want to be connected to industries and employment centers throughout Canada. Belleville is located along Highway 401—commonly known as Canada’s Main Street. In addition to Belleville’s convenient proximity to Montreal, Toronto and Ottawa, the city is also just an hour from an uncongested US border crossing, making it an even more appealing destination for residents, business owners, entrepreneurs and investors.
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A connected community
Belleville has enjoyed strong growth since it was first established as a village over 230 years ago. Today, Belleville has a stable economy with diversified growth in a wide range of industries. Belleville is home to manufacturing, machining, printing, food production, retail, restaurants and even biotechnology. This economic diversity promotes stability for investors and makes Belleville a great place for entrepreneurs, small business owners and skilled professionals. Belleville’s strong economy has attracted newcomers and contributed to strong and steady population growth.
According to a 2020 study, Belleville’s average rent for a one-bedroom apartment is $1,068, up 5.3 percent from 2019. As more people transition to homeownership, rental vacancies have also gone up slightly—this is a town where you should focus on selling single-family homes rather than investing in rental units, at least for now.
The average home price is about $250,000 as of December 2020, and homes are currently selling a half percent under asking. They don’t stay on the market long—the average home is only on the market for 24 days before a sale is pending. This may be because the Quinte area real estate market is booming, according to Re/Max Canada.
The City of Belleville is designed with growth and development in mind. Belleville has an excellent infrastructure that was upgraded to boost capacity, in anticipation of a continued population influx for years to come. The city promotes investments through its optimized development approval process. Investors and developers hoping to build in Belleville benefit from an approval process that’s designed to be fast and friendly, with as little hassle and delay as possible.
Investments in the future
There are many exciting new things on the horizon in Belleville. One of the biggest recent changes is a renewed investment in public transportation. The City of Belleville has made strategic investments to expand, revitalize and improve existing public transportation systems to keep residents and visitors connected and promote accessibility for those travelling to and from work, school and recreational activities. Some of the projects underway in Belleville include an expansion of sidewalks and walking paths to improve pedestrian access to the city and public transportation, and the addition of new accessible bus stops and shelters.
A culture of entrepreneurship
Investors and entrepreneurs should feel right at home in Belleville. Belleville offers opportunities for investors to connect with business associations, angel investment networks and business mentorship programs to ensure their success in the city. Belleville’s business culture is defined by a strong sense of support and cooperation, providing a tight-knit regional network.
On top of networking resources for investors and entrepreneurs, the City of Belleville also provides employment support to help match businesses with qualified local candidates. The Work in Belleville program matches qualified employees with local employers to streamline the hiring process and help businesses build a strong workforce. This program strengthens businesses and reduces unemployment and underemployment in Belleville, promoting business growth and improving the profitability and reliability of real estate investments for investors in Belleville.
Currently, Belleville has an unemployment rate of 6.2 percent—which is slightly higher than the national average. As the economy rebounds, we can expect to see that rate go down.
Belleville is great place to start
Investing in real estate for the first time can be a daunting prospect. Belleville is a great place to start for real estate investors because of its affordable home prices, entrepreneurial support and funding. The rich history, ideal location, strong community and growth opportunities make this city the perfect place for investors to build or expand their portfolios with residential, commercial and industrial properties.
Real Estate Professionals in Belleville
We have searched high and low for real estate investing professionals in Belleville. Below, you can find professionals we have researched and can confirm they specialize in working with Real Estate Investors.
To ensure the maximum success in real estate investing in Belleville, or any city, you should always use professionals who understand and work with investors, your income depends on it.
This list may not fully list all the professionals in the area, but the ones we have personally investigated and that we would refer our clients to.
If you’re a real estate professional and would like us to consider adding you to the list, please contact us.
Welcome to Belleville
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