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When you ask someone to think about Canada, Niagara Falls is often one of the first places that comes to mind. With its three massive waterfalls that come down from the Niagara River, the city is known for being a sight to behold to everyone who comes to visit.
So, it should not be a surprise that the Niagara Falls real estate market is also known for being one of the most beautiful places to invest in real estate in the entire country is also a great place to invest if you want to increase your chances of experiencing a meaningful return on your investment. After all, the Niagara Falls real estate market is largely dictated by the laws of supply and demand, and there is most certainly a strong demand for real estate in the city.
If you want to learn more about Niagara Falls and how this city has become such a stand-out location for real estate investors, then continue reading.
However, before you get too far, if you would like to learn how to properly finance your Niagara Falls real estate investment, click the link below for a free strategy call with our team at LendCity.
A Healthy Housing Market
The Niagara Falls real estate market is relatively affordable when you consider the strong reputation of the city and its persistent demand. The most recent estimated housing price in the city at the time of writing this is approximately $700,000 with an average rental price of $1675 per month.
However, it is important to note that the rental price is a 25 per cent increase when compared to the previous year – thus indicating a rapidly expanding Niagara Falls real estate market that is likely to continue growing once the Ontario real estate market bounces back from the current downturn.
A Beautiful Environment
Niagara Falls is home to one of the most beautiful environments in the province of Ontario. Not only does the city host the beautiful Falls that the city is named for and the Niagara River, but there are plenty of well-maintained parks and gardens for locals to explore in order to get a refreshing taste of nature in the city.
These include Queen Victoria Park, the Niagara Parks Botanical Gardens the Floral Showhouse and more. This includes places such as the Butterfly Conservatory in the Botanical Gardens as well, giving back to the environment while also creating an experience for residents and tourists to enjoy.
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 in Niagara Falls Real Estate
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.
Reliable Local Infrastructure
As a popular tourist destination, Niagara Falls makes a great investment into their public infrastructure every year in order to maintain and upkeep their services for the public. This includes maintaining their local highways, connecting with local airports, supporting, and maintaining rail systems, bus lines and other forms of transit.
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.
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Investing In Niagara Falls Real Estate Along an International Border
Niagara Falls Ontario is located directly across the water from Niagara Falls in New York State. This provides a unique advantage for investors who wish to take advantage of this international access.
Not only does that mean commercial investors in the region have the border to increase the value and usability of their investments, but residential investors can find benefit in the crossing as well.
Niagara Falls New York is home to the Niagara Falls International Airport, so renters who live in Niagara Falls Ontario are capable of crossing the border into the United States and using the airport to fly to visit family, go on vacation or travel for business purposes much easier. This reduces the hassle involved with driving to cities such as Toronto to travel which often requires the traveler to either find transport to the airport and back or leave their vehicle at the airport. With an airport across the border, there are public transit services, and other transportation options that can simplify this process.
Niagara Falls Real Estate – Growing Wealth by The Falls
If there is one thing the housing market in the city of Niagara Falls Ontario has proven over the years, it is this – prepared and experienced investors who trust the Falls with their finances are not likely to wind up sinking in debt and unmanageable properties. Instead, it is likely that they will experience a level of growth and success that can help them along the road to meaningful financial freedom.
However, in order to find that meaningful success, part of your strategy needs to include a mortgage suited to both your upcoming investment and 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, our team is dedicated to making sure you are matched up with the best available mortgage products from the best lenders for your specific needs.
Niagara Falls Real Estate Professionals
We have searched high and low for real estate investing professionals in Niagara. 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 Niagara, 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.
If you would like to book a free strategy call to discuss investing in Niagara Falls real estate, click the link below.