Waterloo City’s Competitive Advantage Reveals; But Shortage In Housing Supply Continues?

Location is an essential element in real estate industry.The selection of a city has something to do with its economy. That is the case of Waterloo City in South Ontario, Canada. It has its competitive advantage that draws a lot of investors.

Canadian Real Estate Magazine says that Waterloo City in South Ontario, Canada should be on every investor's radar. Why? From the mouth of the CEO and co-founder of Sandvine Inc, Dave Caputo, he said that "Waterloo right now, I have to believe, is one of the best places in the world to build a technology company."

Waterloo City in South Ontario, Canada is considered as the Silicon Valley of the North. It is the hub of technology and sciences industries as of today. In fact, major international companies like Microsoft and Google affirm the claim concerning Waterloo, as these companies have already set up their head offices in the city. Report also says that "Shopify that recently opened a 40,000 sq ft office to take advantage of the engineering talent."

It is also noted from the report that residential market has grown tighter since statistics show that its "vacancy rates sub 2%." In fact, new condo projects which aim for young professionals and students are already sold out on its pre-construction launches. In effect, "the market for prime student housing has been waitlisted in Waterloo."

However, News Wire reports that despite the shortage in home listing in Waterloo including Kitchener and Cambridge cities, "home prices and sales activity levels will remain relatively stable in the coming year." This is according to the prediction of Keith Church, a broker of record, from Royal LePage Grand Valley Realty. This firm has conducted the "House Price Survey and Market Survey Forecast," which has been released this week.

The shortage of housing supply is obviously due to "the high tech sector in the Kitchener-Waterloo-Cambridge region, [which] continues to be a big employer with thousands of new hires annually. With healthy employment rates, the region enjoys strong consumer confidence. This, combined with a continued low interest rate environment, is highly supportive of the local housing market."