Best Places to Invest in Real Estate in Manitoba 2020

Best Places to Invest in Real Estate in Manitoba 2020

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Across the nation, the real estate market in every province is booming. In the entire history of Canada, there has never been a better time to invest in real estate. Home prices are on the rise, new homes and multi-unit buildings are going up in every major city, and the money to be made in either residential or commercial real estate is growing, no matter where you are.

Table of Contents - Best Places to Invest in Real Estate in Manitoba 2020

The same is true for Manitoba. You don’t have to be in the confines of Toronto to make a profit in real estate investment. In fact, the market in Manitoba is so strong, you don’t even need to be in Winnipeg. If you’re curious about the potential for real estate investment in Manitoba, you’ve come to the right place.

The COVID boost

With travel restrictions still in place and the coronavirus, a very real threat, now may not seem like the best time to invest in real estate. However, the opposite is proving true.

Some investors might have seen some blowback in the housing market as a result of the outbreak of COVID-19, but that is quickly changing. After a brief dip, the real estate market is rebounding with significant speed. Indeed, real estate experts suggest that homebuyers are more motivated to upgrade their housing situation than ever before. Being forced to shelter-in-place has left homebuyers taking a close look at their surroundings (especially while wondering if and when they’ll be forced to spend an extended period at home in the future). This concern has led several people to strike out in search of the perfect home.

Manitoba - A solid entry point

To those who have explored the real estate market in Canada, it comes as no surprise that home prices are rising. Single-family homes in Calgary average $469,000. Toronto homes cost a little over $700,000. In Vancouver, a home costs about a million dollars. According to Winnipeg REALTORS, the average cost of a home in the province rose 1.5 percent to $340,000. The average price of an attached condominium rose an astonishing 5.4 percent to $258,000.

In other words, when you set your sights on real estate investment in Manitoba, you’re entering a market that — while robust — is still accessible to investors working on a smaller budget.

Winnipeg, Manitoba

The most obvious place to begin your search for an investment property is the provincial capital of Winnipeg. The city has grown an average of 2 percent over the last several years, backed by excellent immigration rates. These trends indicate that people are flocking to the Winnipeg area in droves—which means that all those people are going to need a place to stay. New construction is cropping up around the city. Multi-unit buildings are extremely popular. If you have your sights set on the city center in Winnipeg, multi-unit buildings are an excellent place to begin.

Those investors interested in industrial real estate will find a lot to love in Manitoba. The province is making incredible strides developing some high-profile industries, including advanced manufacturing, the aerospace industry and agribusiness. Heavy hitters in these industries are always looking for new worksites and new campuses.

The ‘burbs

As the city of Winnipeg continues to grow, more people are looking to the horizon to find a new home. The average cost of a home in suburbs of Winnipeg like Charleswood, R17 and R14 run just north of $385,000. While more expensive than a home located in other parts of the province, the suburbs of Winnipeg offer bigger houses and more space than those found in the city center. And they’re just a hop, skip and a jump to the culture and cuisine of Winnipeg.

The combination of urban paranoia caused by the COVID-19 virus and the growing options for public transportation make the suburbs surrounding Winnipeg more desirable to people than they’ve ever been.

Winkler, Manitoba

Though Winkler boasts a modest population — only about 13,000 compared to Winnipeg’s population of 700,000—it has plenty to offer real estate investors. What is incredibly enticing about Winkler is the dramatic change in population. Over the last decade, cities like Winnipeg and Thompson grew by roughly five percent. In Winkler, the population skyrocketed by 18.7 percent. That’s a statistic worth taking note of.

Due to Winkler’s small population, real estate investors hoping to break into the market should consider investing in established homes rather than new construction. The reason being that while the population continues to grow steadily, the smartest bet is to avoid grand new construction projects in favour of choosing properties that exist already.

What to look for

When you first get into the real estate investment game, you’ve likely heard the old saying, “location, location, location.” That much is true. However, considering how much interest the national housing market is seeing, there really is no wrong location … to an extent.

When you want to make a go of real estate investment in Manitoba, make sure to do some research. If you’re purchasing a single-family home, investigate the home prices throughout the neighbourhood where it sits. Make sure that the house is on par or cheaper compared to the costs of the other houses in the community. You should also make sure that your investment property won’t require extensive maintenance once you’ve purchased it. Finally, you will want to ensure that your property is low maintenance, in general.

Enlist some help

For investors who are working on buying their first property, consider talking to like-minded individuals in the same market. The Manitoba Real Estate Investor Association is easy to join, covers the entirety of the province, and plays host to nearly 2,000 members. If you’re looking to dip your toe into the world of real estate investment, the Manitoba REIA is an excellent place to start.

Manitoba has plenty to offer investors with lower budgets as well as experienced industry professionals—don’t overlook this great opportunity.

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Scott Dillingham

Scott Dillingham

I have been investing and lending to real estate investors for nearly 10 years now. After thousands of successful deals between flips, rent to owns, student properties and commercial assets I have developed a deep knowledge of real estate investments and have a passion of sharing this information with the world! If your looking for a lender who specializes in rental property financing you're going to want to connect with me at team@lendcity.ca.