Saskatchewan is a province full of natural beauty that (ironically) does not have a natural boundary on any side. While it’s landlocked, it’s still hosted to over 100,000 lakes, which are enjoyed year-round by its diverse population of just over a million people. While it’s right in the middle of the pack when it comes to population numbers, the province is among the least densely populated, so the economy here functions a bit differently than in other places. There is quite a bit of real estate investment opportunity to be enjoyed here, even if there are not the major urban areas that exist in some other places across Canada.
Table of Contents - Best Places to Invest in Real Estate in Saskatchewan 2020
Throughout history, Saskatchewan’s most prominent industry has been agriculture – and within that broad industry, wheat reigned supreme. There are actually several bushels of wheat on the province’s official flag, signifying the crop’s vital importance to the province’s economic well-being and its culture. Nowadays, canola is the top crop, but agriculture as a whole is beginning to decline somewhat as the economy begins to diversify more, as it has done across the country. This means that industries like mining and other natural resource extraction have taken on more importance, as have fields like finance, real estate, insurance, education and social services.
This type of diversification should always be looked at as a positive for regional and local economies. If an economy has a foundation in more than one industry, this means that it’s less vulnerable to downturns that can devastate an area that is reliant on just one field. Saskatchewan’s economy is no different, and its presence in many areas means that it represents a safer opportunity for real estate investors as there is likely to be less volatility that can lead to turmoil in their holdings.
The largest city in the entire province, Saskatoon is home to roughly a quarter of all Saskatchewan residents. It’s a small city in the grand scheme of things (the 17th largest metropolitan area in Canada), but it still maintains a significant cultural and economic presence that helps to anchor the entire province. The city’s culture benefits from the presence of many different types of visible minorities, along with one of the highest percentages of First Nations population among all Canadian cities.
Saskatoon is home to several lacrosse and ice hockey teams, but its cultural offerings don’t stop there. It plays host to dozens of festivals every single year while also enjoying the presence of world-class museums and theatres like the Remai Modern and the Persephone Theatre. These cultural cornerstones provide some stability to the real estate market, as newcomers to cities are driven to stay by this type of cultural enrichment.
Overall the real estate market in Saskatoon is doing quite well. Although the spectre of COVID-19 meant that the traditional busy season took a significant hit, the fact remains that the market has rebounded nicely. Inventory is low right now, and prices are steadily rising (and expected by most experts to continue doing so) as a result of the scarcity. There is still value to be found in Saskatoon, but prices are climbing quickly, so it’s a market that you’ll likely want to investigate sooner rather than later.
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Saskatchewan’s capital city is one of the smaller cities out of all Canadian provincial capitals, but it still can pack the punch of a much larger city. Regina is a diverse place with high percentages of indigenous peoples and South and Southeast Asian residents. The city is also a place where natural resources undergird most of the economy, with resources like natural gas, potash, oil, kaolin, bentonite and sodium sulphate all providing much of the city’s wealth. However, those aren’t the only economic assets that the city enjoys – there is a significant manufacturing sector here as well, including EVRAZ, one of the world’s foremost pipe and steel plate producers.
Regina’s strong economy has boded well for its housing market. The city has seen housing prices that outpace those of Canada as a whole, even with the disruption of the pandemic this year. As with Saskatoon, and as with many other cities and regions across Canada, Regina has seen a dip in inventory that has driven prices upward as competition increases for smaller inventory. Real estate investors who are interested in investing in Regina would be well-served to jump in sooner rather than later, as even though prices are slowly climbing back up the entire market is still recovering from the slowdown and stalling that came along with the coronavirus.
Prince Albert, Saskatchewan
The third-largest city in Saskatchewan is known as the “Gateway to the North,” as it’s the last major urban center that most travellers will encounter within the province as they head up to the natural resource riches situated in its northern portion. The city is unique in that its economic prospects are still primarily driven by the natural resource extraction industry (as well as its adjacent industries). Bio-fuels and diamond mining are some of the main fields here, and government services also employ around 11 percent of the city’s workforce.
Although home prices are not likely to be as high here as they are in the other cities of Saskatchewan, they are still holding steady even in the face of the pandemic. There is an opportunity here for real estate investors interested in rental properties, as the city’s reliance on extractive industries means that there’s likely a stronger demand for rental housing rather than permanent sales. If you believe that you could refurbish properties and feel comfortable as a landlord, there could be some opportunity in Prince Albert for you.
While Saskatchewan is not one of the biggest population centers in all of Canada, it still punches above its weight economically thanks to its large deposits of natural resources and its proud history of agricultural work. There are investment opportunities in the major cities discussed here, but investors should also be prepared to look into some of the smaller towns in the middle and northern part of the province – there is sure to be demand for housing there as the province’s economy continues to rely on the resources stored there.
Real Estate Professionals in Saskatchewan
We have searched high and low for real estate investing professionals in Saskatchewan. 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 Saskatchewan, 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.
Real estate investors should consider Saskatoon a safe place to park their money
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