Check the latest population statistics and it’s easy to understand the need for more condos for sale in Ottawa. The population growth rate here is 7.9% and that’s faster than the 6.2% for Ontario and the 4.8 growth rate for Canada as a whole. The population is somewhat younger than average, and that explains the popularity of affordable condos over more expensive suburban homes.
Here are some other reasons why people are buying condos in Ottawa:
- The local unemployment is very low at just 4.8%. The strong economy of the city is centered on the federal government and high technology, but the rural economy is growing robustly as well. The financial sector is also quite strong, especially real estate.
- Ottawa gets its share of the immigrants who come to Canada to settle into the big cities. It’s true that Toronto and Vancouver get the most immigrants. But it’s also true that the immigrants who do settle in Ottawa are generally more educated, and they tend to have higher employment levels and wages. They come to this city because of the numerous professional employment opportunities that offer high wages.
- The city offers lots of affordable housing options. The current average housing prices are lower than the national average, so they’re within reach of more people.
- Ottawa is a big city, but its vibe is distinctly small town. There aren’t really too many people, yet the size of Ottawa is bigger than the combined size of adding Toronto, Montréal, Vancouver, Calgary and Edmonton.
- In one poll, Ottawa is considered as the safest city in the country. That’s a great selling point not just for families with kids but for everyone, really.
- It’s a truly multicultural hub. Aside from the immigrants from Europe, people come here from West India, Africa, China, and the Middle East. This means that if you’re a foodie, you can sample numerous original dishes made by the people who are most familiar with them. Here you can also enjoy many different variations of shawarma.
- Education is a big deal in the city, and you have both public and private school options for your children. You can also pick schools in English or French languages. There are even 6 universities and colleges within the city limits. So if you have teens, your kids don’t have to go far for university—and you can always decide to go for a Master’s degree or a doctorate.
- Traveling within the city isn’t a problem, with numerous public transportation options available 24/7. In fact, you can get from one spot to another within the city in just half an hour, as long as it isn’t rush hour.
- The city offers plenty of entertainment options for people of all ages. There’s the “world’s largest skating rink” known as the Rideau Canal. You have lots of different music festivals, and of course there’s no lack of museums to choose from. There’s also the unique Escape Manor, where you and your friends are locked in a room with only 45 minutes to escape.
- It’s really one of the most desirable cities in the world, with lots of green spaces and excellent health services. It’s safe yet never boring; fun yet peaceful, and adults and children feel great here.
With condos, you can be right in the middle of the big city fun while also close enough to your workplace. Buy your own condo as an investment, and in just a short time you can turn a profit as well.