Surge in Canadian Confidence Growing Interest in Real Estate Investment Revealed by Recent Survey

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A recent survey conducted by Royal LePage reveals a growing interest in real estate investment among Canadians. The report indicates that over a quarter of Canadians plan to invest in real estate in the next five years. Many individuals see real estate investment as a means of generating income, benefiting from value appreciation, and providing opportunities for future generations. Surprisingly, some young Canadians prioritize investment properties over owning their own homes, viewing real estate as a way to build wealth. The survey also highlights that location, amenities, and property type remain important considerations for investors, with single-family detached homes being the most popular investment property type.

Younger Canadians, particularly those aged 18 to 34, show a strong inclination towards real estate investment, with 44 percent of this age group owning two or more investment properties. They prioritize real estate as a means of building wealth and providing opportunities for the future. Location, amenities, and property type continue to be important factors for investors, with single-family detached homes being the most preferred property type. Investors prioritize long-term property value appreciation, positive cash flow, and low maintenance costs when making investment decisions.

Increased lending rates have prompted some investors to consider selling their investment properties, with 31 percent of investors contemplating this option. However, the temporary downturn experienced by the real estate market during the pandemic proved to be short-lived, demonstrating the long-term viability of the market. Looking ahead, a significant percentage of investors intend to keep their properties in their current state, while others plan to renovate or sell their homes. Investors are seen as playing a pivotal role in supplying housing units to renters across the country and will continue to be an important part of the Canadian real estate ecosystem.

Read the full article on: REAL ESTATE MAGAZINE