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The Niagara Falls real estate market is a market unlike any other, with the beautiful roaring waterfalls and constantly flowing tourism industry it is no surprise that this city holds the potential for investors to make meaningful investments and grow their portfolios.
The appeal and demand that Niagara Falls experiences each year is not hard to understand. After all, the waterfalls and waterfront are easily some of the most frequently imagined things when you ask people to think about Canada and its landscape. This creates a natural demand in the Niagara Falls real estate market, which means that investors need to simply identify which in-demand niches suit their own investment strategies.
So, if you are interested in learning more about the Niagara Falls real estate market and how you can use it to further your own real estate investments and grow your wealth while meeting the region’s needs and demands, keep on reading.
Before we dive in, if you are interested in learning how to properly finance Niagara Falls real estate investments, click the link below to book a free strategy call with our team at LendCity.
A Thriving Tourism Market
You need to check out the Niagara real estate market. Centered around the three waterfalls that make up Niagara Falls, the city has built a powerful market around the namesake attraction. In fact, the city attracts an estimated 13 million tourists every single year into the city – that is the equivalent of nearly one third of the Canadian Population visiting this city and spending their money on the tourism sector.
Naturally, with people visiting the city constantly that creates a demand for hotels, motels, and other forms of short-term rental accommodations for their time in the city. As well, people will often seek out bars, restaurants, and unique entertainment venues to occupy their time in the city.
In 2018, the Niagara Region published the results to a study on their local tourism sector and revealed some key statistics that investors should be aware of.
Notably, across approximately 2800 tourism businesses, the city is home to nearly 40,000 tourism jobs. Once broken down, these jobs are divided as follows.
- Accommodation and Hospitality – 27,270
- Arts, Entertainment, and Recreation – 8974
- Beverage Manufacturing – 2519
- Transportation – 828
- Travel Arrangement and Reservation Services – 404
Once contrasted with the city’s population of approximately 89,000, it becomes clear that investments that serve the tourism industry are a relatively safe bet for investors.
The Hydroelectric Industry
Another major industry that dominates the economy and the Niagara Falls real estate market is the hydroelectric industry. Since 1750, the potential to draw powers from the three massive waterfalls in the area has been recognized as an incredibly important and valuable resource for the city.
While there is not much room to create businesses to generate that power these days, the direct source of clean, renewable energy makes the city a great home for industrial and commercial businesses that require large amounts of power in order to operate.
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The infrastructure in and surrounding Niagara Falls serves to make the city an even stronger investment than the tourism market already did. Each year the city makes large investments into their local infrastructure in the form of public transit systems, maintaining local highways, rail systems, bus lines and providing shuttle services to surrounding airports.
These systems serve not only municipal and intercity travel, but international travel as well to the sister city of Niagara Falls in New York State by way of the Rainbow International Bridge that connects them.
The highways that service Niagara Falls are Queen Elizabeth Way, Highway 420, and The Niagara Parkway. These connect the city with places such as Fort Erie, Toronto, and the rest of Ontario.
Airports that are accessible from the city are the Buffalo Niagara International Airport, the Hamilton/John C Munro International Airport, the St. Catharines/Niagara District Airport, the Niagara Falls International Airport, and the Toronto Pearson International Airport.
Accommodating a Growing Population
Finally, the Niagara Falls real estate market is home to a growing population with very little room to move around. While the vacancy rate consistently sitting below two and three per cent may be good for investors who want to maintain their cash flow, it does not spell well for the continued growth of the city’s population.
That is why the city is in need of developers willing to create large multifamily properties such as apartment complexes and condominiums in order to increase the housing supply and provide more housing for the city’s population while keeping rents at a sustainable level.
Niagara Falls Real Estate – Blissful Investing in the Honeymoon Capital of the World
Not only is Niagara Falls a successful and thriving tourism market for people looking for an excellent place to get away and enjoy a unique tourism experience, but it is also home to great investment potential that you can leverage to grow your portfolio and find meaningful success.
However, in order to find that meaningful success, part of your strategy needs to include financing that is suited to both your upcoming commercial investments and developments as well as your portfolio as a whole. That way you can continue to grow and expand as an investor without being held back.
That is why at LendCity we have a dedicated commercial financing team in place in order to help you get the best financing options from the lender best suited to your investment strategies and goals. That way you can spend more time with a
To get started today, simply visit us online at LendCity.ca to fill out our easy online application or give us a call at 519-960-0370 to book a consultation today.
Niagara Falls Real Estate Professionals
Here is a list of trusted real estate professionals that service the Niagara Real Estate market.
If you are ready to invest in Niagara Falls real estate, click the link below to book your free strategy call with our team at LendCity.