Seller Market going strong across Canada, and particularly in Halifax, Nova Scotia
Halifax Real Estate, Nova Scotia, offers an excellent quality of life in a stunning setting on the Atlantic Ocean. As the area’s economic, cultural, and social capital, Halifax includes all the amenities and conveniences of a large city — but with a population of just 380,000, you will find fewer big-city problems and a low cost of living. Since Montreal’s most prominent city east, it is the regional center for finance, healthcare, commercial industry, and transport — and Halifax is also home to six degree-granting universities, many cultures, fine dining, and world-class shopping.
It’s no wonder that Halifax real estate is doing well! In January 2020, the average sale price of a home increased by 2%, and the number of sales increased by 20% over 2020’s figures. According to the Royal Bank’s Housing Trends and Affordability Report of November 2020, though, momentum is now slowing Halifax, making it a balanced market for both buyers and sellers to do business.
Whether you are looking to purchase or lease in Halifax, there are a wide variety of housing choices, ranging from urban to rural condos to single-family detached, provided in a complete assortment of prices. According to the Canada Mortgage and Housing Corporation, the average selling price of homes in Halifax in 2020 was $332,821.00. Because of minimal home costs and the affordability of other essentials like food, the expense of residing in Halifax is among the lowest in the nation. For an extensive list of homes currently on the current market, take a look at the MLS site and choose Nova Scotia.
Thinking about renting first to see if Halifax is for you personally? The average monthly rental costs hold steady at approximately $700 a month for a self-contained one-bedroom apartment, including utilities.
It is possible to enjoy a fabulous Condominium living in Halifax, too. Right now, luxury units at the Bishops Landing development right on the waterfront at the harbor’s edge are going from $459,900 up to $1,200,000, beginning in a vast 1230 square feet. Southwest Properties is the owner and developer.
A special notice on commercial property trends — in the 4th Quarter of 2020, office vacancy rates stay flat in nearly all sectors across the Greater Halifax region. Translation: the market is firmly in the landlords’ favor, with a vacancy rate below five percent, limited leasing alternatives, and no new construction (though several significant projects are being contemplated downtown, no new stock is expected before 2012–2013). Business owners do not despair: From the suburban market, conditions favor the tenant, with lower rents because of less expensive operating costs and real estate prices, better quality leasing options than that provided downtown, and ample complimentary parking in most cases.
Fantastic investment, and if you’d like to be at the core of the city, then Halifax Real Estate https://halifaxmetrorealestate.com/ might be for you!
