Have you set your sights on Winnipeg real estate as an investment option? With a smart property purchase, you can take advantage of the city’s growing population and their need for housing.
Winnipeg is the largest city in Manitoba, accounting for over half of the population in the province. Its strategic location on the confluence of Assiniboine and Red rivers creates a mix of urban and rural lifestyles that many have come to love.
As the capital city of the province, the city of Winnipeg has gone to great lengths to diversify its economy. There have been significant resources sunk into trade, manufacturing and healthcare. The number of investors enticed by our diverse economy has led to the establishment and relocation of multi-national companies in the city.
Another factor that has lured investors to Winnipeg is its wide range of housing options. No two investors are the same; the factors of financial constraints, investment goals and preferences will determine which type of real estate to choose. In Winnipeg, you can choose to invest in apartment units in the city, luxury houses or small to mid-sized options in the suburbs.
Pillar Property Management is made up of talented Winnipeg real estate experts who have experience in the local market. Our collective involvement in Winnipeg real estate can help you find the right investment property to meet your investment goals. This article aims to help you consider many of the leading neighborhoods that offer lucrative opportunities for investors looking at Winnipeg properties.
Best Neighborhoods in Winnipeg for Investments
Winnipeg is a treasure trove of options for real estate investors. There are a number of neighborhoods that have established themselves in and around the Manitoba city. From our experience in the property industry, we have narrowed down on a few that we perceive would be ideal for you.
One thing you will love about River Heights is its diversity of options. On one side, you have turn of the century homes which vary from small to medium sizes while you can also choose to invest in million-dollar luxury mansions.
Price of property in River Heights takes into consideration proximity to the Assiniboine River. The residents in this neighborhood also have easy access to the largest park in the city, Assiniboine Park.
Demand for property in this neighborhood is high thanks to the cool micro-environment created by the river. As a prospective real estate investor in Winnipeg, sweeter words have never been said.
As mentioned earlier, Winnipeg has a mix of both urban and rural feel. If you prefer investing in a neighborhood that has a peaceful environment, then Charleswood is the location for you. It is located just a stone’s throw away from the city.
Charleswood is also the destination for a number of domestic and international tourists. Due to its location next to Assiniboine Park and Forest, tourists come to take snapshots of the white-tailer deer and the polar bears at the park.
Investment in Charleswood means you are targeting the middle-aged demographic of Winnipeg. The soothing atmosphere is ideal for young families starting out. Due to its location, the lots here are larger and the options range from medium sized to large bungalows and two-storied homes.
What sets a neighborhood apart is its distinct character; an attribute that Corydon has perfected over time. Previously known as Little Italy, the neighborhood has established itself as the entertainment hub of the city. During holidays, the trendiest and often, biggest events take place in the streets of Corydon.
As a trendy and chic location, expect your tenants to be the younger populace of Winnipeg. The young residents will take full advantage of the boutique stores that are always opening up in Corydon.
As a landlord, you can choose to traditionally lease out your property or use short-term or vacation rental platforms such as Airbnb, booking.com or Expedia. You can mix in the two options to enjoy higher ROI, depending on the season.
Investment in Tuxedo will set you further back than the other options in this list. Tuxedo offers upscale property options. Its exclusivity and pricier housing ranks Tuxedo as one of Canada’s richest neighborhoods.
If this is your first time visiting Winnipeg, and especially Tuxedo, expect to be wowed. The suburb tends to elicit an “oh la la” from prospective investors. The upscale neighborhood has lush scenery, bigger than life trees and beautiful sidewalks.
The neighborhood is located at the south end of the city, adjacent to the University of Manitoba. You can choose to invest in a multi-unit property in the area and take advantage of the constant flow of student tenants from the University.
Due to its youthful population, there is usually a lot going on almost every weekend. Fort Garry has a sports stadium, the Investors Group Field which is home to three different teams; the Winnipeg Blue Bombers, the University of Manitoba Bisons and the Valour FC. The stadium is also used as a venue for outdoor concerts.
The strong rental market in Fort Garry makes it a smart choice for any prospective Winnipeg investor.
Winnipeg is currently experiencing a passive supply of housing options. Due to this lack of supply, the average asking price has increased significantly. The growth in population has also increased the demand. Analysts are confident that residential real estate will continue to grow and both rental prices and value of houses will rise.
Ready to be the next real estate investor in Winnipeg? You should consider Fort Garry, Corydon, River Heights, Tuxedo and Charleswood. Each option has its own distinct character and attracts different clientele. With sound advice, you can choose a neighborhood that meets your budget and financial goals.
Pillar Property Management is the real estate partner you need. Our experience in the industry allows us to offer sound and professional advice. We have helped hundreds of investors in the past and can do the same for you. For all your queries on investment opportunities in Winnipeg, Manitoba, don’t hesitate to contact our experienced team.