Investing in Halifax Real Estate Can Be Very Lucrative - A Stable & Diversified Economy is the Engine Behind New Pre-Sale Halifax condos and homes

Invest in Halifax Real Estate Market

Consistently ranking in the top quarter of investment potential and actual profit, the Halifax real estate investment scale is now at the forefront of any Canadian property investment company and individual. With low vacancy rates and rents that are on the rise, investing in Halifax real estate now is better than ever. With average prices still within reach for many first time investors and seasoned property purchasers, the Halifax real estate average price ranges around the $260,000 mark. In addition, right now, Halifax property is experiencing a low vacancy rate of only 2.7%. Plus, the average monthly Halifax rental for two bedrooms is a high $891/month. As you may already know, Halifax is the economic engine for all of Atlantic Canada and Money Sense magazine has rated Halifax as the second best place to live in the entire country out of 123 cities. In terms of growth potential and affordability, Halifax real estate again is at the top of the charts. With a broad based economy in offshore natural gas, information technology, military, aerospace, government and biotechnology, Halifax is also a university city with over 30,000 full time students in the city. With a burgeoning population closing in on 400,000, now is the perfect time to purchase and invest in Halifax real estate before a huge explosion in property values is expected. The land size of Halifax City real estate is approximately 5500 square kilometers, and the total number of private dwellings is 166,675. The median family income in Halifax is approximately $67k per year and the rental payment is about $712/month. Unemployment rate is at a low 6.3% right now during the economic crisis. In terms of the Halifax real estate rental market, as of October 2008, It was at a mere 2.7% down form 2.8% a year before. The average rents have increased from about $700 to $725/month and two bedrooms from $876 to $891/month according to the Canadian Real Estate Magazine. In terms of the Halifax real estate resales market, it is still holding strong with an increase in average price between 2007 and 2008 November, when most other Canadian cities were suffering huge property value losses. There are only 18 new builds as of November 2008 due to the slowing economy, and with the population increase expected in the City of Halifax, real estate investing is now even more important than ever. There are only 879 units under construction at this time.

Hot Halifax Condo and Home Developments That You Should Check Out!

There are several great pre-sale and under construction Halifax real estate developments going on at this time and they offer both single family Halifax homes for sale as well as condos and apartments. First up are the single family Halifax houses that include Halifax Fall River. This Fall River Halifax Home community is only a twenty five minute drive from downtown and offers large residential home sites and lots for sale that are close to schools, amenities and the lake. The average price of an existing detached Fall River Halifax home for sale is about $308,000 in 2009, while a new construction is about $363,000 which is still attainable and affordable for most families. Renters in Fall River Halifax real estate market tend to be professionals and senior management employees in the oil and gas industry who are willing to pay a huge premium for good Halifax rental properties which is great news fo investors. Furnished, executive style properties in Fall River Halifax real estate rental properties can rent for about $3,000 to $4,000 per month! The South End Halifax rental market is what many Haligonians refer to as the area located to the south of the downtown core as scuh, and this area is home to five universities, private colleges, upscale neighbourhoods, thriving retail and commercial businesses and a breadth of rental properties. With vacancy rates below 3% in The South End Halifax rental real estate market, it may appeal to investors looking for long term returns on investments. Properties in the South End of Halifax real estate market range from $300,000 to $500,000 and each would rent in the vicinity of $850 to $1,300 for every two bedroom apartment or home unit. Mount Royal Halifax rental market is a new development located just off Highway 102, adjacent to the community of Clayton Park. Set on 65 acres, Mount Royal Halifax rental market includes three parks, public transit and proximity to the downtown core. Halifax Mount Royal real estate market offers condos, semi-detached, townhouses and single family detached homes for sale. Prices for single family lots range from $124,900 to $140,000. Mount Royal Halifax townhouses begin at $271,900 and semi detached homes from $287,900 only. Mount Royal investment property definitely gives you an entry level property to invest in. Crown Bay Halifax condos for sale is just located minutes from downtown and is surrounded by established communities. Prices for a studio style unit start at $159,900 and for a two bedroom Crown Bay Halifax apartment suite at $280,000, and these condos can rent in the average range of $1,400 to $2,200 per month. The Trillium is a building that is located on South Park Street Halifax real estate market in the commercial centre and is still under construction. The Halifax Trillium condo apartments are expected to be completed by 2010. The Trillium Halifax condos will include 84 suites for sale on 17 storeys and the first two levels will be commercial and professional services. The average cost of these pre-sale Halifax condos at The Trillium are expected to be about $360,000, and rents will range from $1,700 to $3,000.

Nearby Real Estate Investment Opportunities in Halifax Property Market

If you have exhausted your search for new Halifax rental properties to purchase, try something outside of the city. Dartmouth Russell Lake West is one of the newest residential neighbourhood developments in the Greater Halifax area. Located in Dartmouth Russell Lake West offers executive homes ranging from $350,000 to $600,000, and these Darmouth properties would rent for about $2,000 to $2,700. Or you can try Bedford South The Ravines which offer more upscale living with average residential house prices starting at $387,000 and rentals ranging from about $2,000 to $3000.