Calgary leads top cities for investment

When investing in real estate, sometimes it’s necessary to look beyond your own backyard. The Real Estate Investment Network ( REIN), a national organization of investors, has compiled what it says are the top 10 Canadian cities in which to invest. Don Campbell, president of REIN, says the results are based on factors such as planned transportation improvements, or if the area’s average income, population and job growth are increasing faster than provincial averages.

1. Calgary

Calgary is “ poised to out perform the average by a wide margin,” says Campbell, making it the top-ranked city. After two years of declining average resale housing prices, the CMHC has predicted they will increase year-over-year in 2010. The REIN report credits the downturn to a muchneeded correction, and that it was “ economically impossible for the [ Calgary] market to continue at the pace at which it was heading.” But now that it is coming out of the recession, along with economies elsewhere, Calgary’s strengths in producing food, fuel and fertilizer will boost its growth.

2. Kitchener-Waterloo-Cambridge, Ont.

REIN refers to Canada’s Technology Triangle as the “ economic Alberta of Ontario.” That means KWC is not only seen as the economic engine of the new Ontario economy, but also that it “ will outperform all other major regions in Eastern Canada,” Campbell says.

3. Edmonton

Edmonton sits near the top of the report’s list because of its future potential. Calling it a “ perennial overachieving market,” REIN says the city is a “ growing market, [ with] an increasing population, and a forward-looking leadership.” It will also be the main benefactor of energy development in Western Canada, resulting in a “ very affordable, strong rental market with strong in-migration from across Canada.”

4. Surrey

B. C.’ s second-largest city is growing so fast it could become even bigger than Vancouver. “ Just a decade ago, it was known as the punch line to many a joke,” Campbell says. But with two border crossings to the United States, links to five major highways, deep sea docks and four railways, Surrey is a prime location to do business, he says.

5. Maple Ridge and Pitt Meadows

The TransLink and Gateway Project infrastructure improvements have made these B. C. towns the “ most accessible regions in the Lower Mainland,” the report says. They’ve come a long way, Campbell says. The unofficial motto of Maple Ridge used to be “ You can’t get there from here.” As a result of poor infrastructure in the past, property values have been historically low in this area. But with the improvements, it’s predicted an additional 400 business will move into the area, REIN says. 6. Hamilton, Ont. 7. St. Albert, Alta. 8. Barrie & Orillia, Ont. 9. Red Deer, Alta. 10. Winnipeg

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