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October 30, 2018

2019’s top five real estate investment towns in Western Canada

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Where are Western Canada’s biggest hotspots for real estate investment in 2019? If you have some funds burning a hole in your pocket, you would be advised to take a look outside of the usual suspects of Vancouver and the Capital region.

Here are our sister publication Western Investor‘s picks for the top five Western Canadian cities to invest in real estate over the next year.

1: Kitimat

Western Investor’s No. 1 pick of western Canadian cities for real estate investors is the northwest British Columbia centre that is ground zero for the biggest private investment in Canadian history. In October, LNG Canada confirmed it would proceed with the $40 billion liquefied natural gas (LNG) terminus and pipeline network that will change Kitimat forever.

It will also likely change the fortunes of those real estate investors quick enough to get into town. Despite work camps springing up to house the estimated 6,000 construction workers, the real estate play in Kitimat is residential rentals. A lot of management types, consultants, government officials and other professionals will be seeking two-to-three-year rentals in Kitimat, figures Jason Pender of JV Development Group. His company is in a joint venture rushing to complete a 27-acre project with 94 townhomes, more than 30 detached-house lots and a 12-acre modular home site.

Kitimat is also on the radar of international investors.

Royal Dutch Shell PLC is the lead partner in LNG Canada, with a 40 per cent stake. The project is rounded out by Petronas, of Malaysia, which holds 25 per cent, PetroChina and Japan-based Mitsubishi, which each hold 15 per cent, and Korea Gas Corp., which holds 5 per cent.

Keep reading in the Vancouver Courier

 


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