Property investors from BC are seeing the opportunities in Halifax following announcement of that $25 billion shipbuilding contract, says one local expert, suggesting those buyers may claim a significant share of acquisitions in the next 12 to 18 months.
“Halifax is now the eyes of Real Estate investors from coast to coast” said a Mortgage broker with Verico Premiere Mortgages in Halifax.
Interest is expected to grow as the area is realizing their newfound economic growth.
If people are interested in getting into the market, they probably have an 18 month window before the impace of the jon and population growth begins to be felt.
Experts are projecting the federal contract will translate into a $10 million increase for yearly real estate sales. That’s for each of the next 30 years.
Hiring and training will be increased in mid 2012, brining as many as 11,500 new jobs to the province by the height of construction contract in 2020.
Most new workers will rent to beging which means Halifax rental averages – some of the lowest in any Major Canadian city – may increase by up 45% in the next few years, suggest some analysts.
Inventory may be a challenge as some may choose to hold on to their properties and wait until markets improve.
LEAVE YOUR COMMENTS BELOW. HAVE A GREAT DAY UNLESS YOU CHOOSE OTHERWISE!
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