Thread 905 / Wonderful Waterloo Archive

Wonderful Waterloo Archive

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Originally Posted by benjaminbach

We have clients buying in a few areas: Kaufman Lofts are always popular - it's a premier building that attracts tenants (the med school across the street is a great draw too!) and as the downtown core continues to develop this will only increase the desirability. Transit hub is proposed for across the street, The Tannery, Breithaupt Block, new mixed-use zoning on Victoria - lots of pluses for the immediate area.

There are a couple of 20 year old low-rise complexes that a number of our clients have 2 bedroom condos in, they're typically under $140,000 and located near Fairview Mall, and Highland & Fischer Hallman (near a very large Loblaws development).

Some clients are buying townhouses and condos down near Conestoga, to take advantage of the large number of student tenants in that area. As Conestoga continues with its expansion, more students will come to the area.

A number of our clients own units at Holborn at River Rd, in the buildings that Cook Homes built in 2008. These are a great value compared to other newer units - 1200 sq ft for $200-210K

A lot of the investors I work with are buying newer or new townhouses in different areas - near Chicopee, on Highland, near The Boardwalk. These rent really well and offer fairly easy management.

It depends on what you're looking for, long term goals, capital availability etc. With your permission I'll send you a message and we can chat a bit more.

Post #21320 12-16-2010 07:25 AM benjaminbach Town Member	Kitchener Waterloo Vacancy Rate Falls CMHC recently released their Fall 2010 Rental Market Report for the Kitchener CMA, which includes Waterloo, Kitchener, Cambridge, Guelph, and the Townships of Woolwich and North Dumfries. The vacancy rate for the CMA fell to 2.6%, and we are able to break this stat down further to examine the vacancy rates in individual zones. The tightest rental market is no longer Waterloo (last year it had a 1% vacancy, now 1.8%), but rather Kitchener Central, with a 1.6% vacancy rate. I attribute the tightness of Kitchener Central to its affordability, proximity to amenities and employers, people wanting to live downtown, and a higher concentration of apartment buildings with 100+ units, which have the lowest vacancy rate of any size of residential structure in the region. Some reasons for Waterloo's rate increasing would be a) new supply of condos and rental units to the market; b) the higher average rent in Waterloo means that more tenants in Waterloo are closer to affording home ownership and buying due to historically low rates; c) price sensitive tenants may move from Waterloo to an area with a lower average rent like Kitchener Central ($889 vs $776 avg rent). Vacancy rates in Cambridge and Guelph are 4.3% and 3.4%. Over at my blog there is more detail, analysis and charts.
Post #21328 12-16-2010 09:50 AM markster Town Member Joined Oct 2010 159 posts	I find it interesting to note: Note: Student housing is not counted in these figures which explains some things, like the average rent is so "high" compared to what single students pay (~$500/month)
Post #21329 12-16-2010 09:54 AM benjaminbach Town Member Waterloo Joined Oct 2010 221 posts Benjamin Bach, Sales Rep & Director at KW Commercial \| Read my real estate investment blog Not intended to solicit clients or properties under contract.	I'd say that the average rents are low compared to what students pay. A 3 bedroom student condo around campus can be 1250-1500 a month spread between three tenants. The average rate for a 3 bedroom (non student) apartment in Waterloo is $1,177 That's one reason you see developers putting up student rentals vs buildings geared to non-students
Post #21330 12-16-2010 10:23 AM KLM Town Member Kitchener Joined May 2010 193 posts	Originally Posted by benjaminbach I'd say that the average rents are low compared to what students pay. A 3 bedroom student condo around campus can be 1250-1500 a month spread between three tenants. The average rate for a 3 bedroom (non student) apartment in Waterloo is $1,177 That's one reason you see developers putting up student rentals vs buildings geared to non-students Ben ,out of curiosity would you be able to tell me at this moment where in Kitchener would be good to buy condo unit for rental purposes? Thank you
Post #21333 12-16-2010 10:34 AM benjaminbach Town Member Waterloo Joined Oct 2010 221 posts Benjamin Bach, Sales Rep & Director at KW Commercial \| Read my real estate investment blog Not intended to solicit clients or properties under contract.	Originally Posted by KLM Ben ,out of curiosity would you be able to tell me at this moment where in Kitchener would be good to buy condo unit for rental purposes? Thank you We have clients buying in a few areas: Kaufman Lofts are always popular - it's a premier building that attracts tenants (the med school across the street is a great draw too!) and as the downtown core continues to develop this will only increase the desirability. Transit hub is proposed for across the street, The Tannery, Breithaupt Block, new mixed-use zoning on Victoria - lots of pluses for the immediate area. There are a couple of 20 year old low-rise complexes that a number of our clients have 2 bedroom condos in, they're typically under $140,000 and located near Fairview Mall, and Highland & Fischer Hallman (near a very large Loblaws development). Some clients are buying townhouses and condos down near Conestoga, to take advantage of the large number of student tenants in that area. As Conestoga continues with its expansion, more students will come to the area. A number of our clients own units at Holborn at River Rd, in the buildings that Cook Homes built in 2008. These are a great value compared to other newer units - 1200 sq ft for $200-210K A lot of the investors I work with are buying newer or new townhouses in different areas - near Chicopee, on Highland, near The Boardwalk. These rent really well and offer fairly easy management. It depends on what you're looking for, long term goals, capital availability etc. With your permission I'll send you a message and we can chat a bit more.
Post #21334 12-16-2010 10:50 AM KLM Town Member Kitchener Joined May 2010 193 posts	Originally Posted by benjaminbach We have clients buying in a few areas: Kaufman Lofts are always popular - it's a premier building that attracts tenants (the med school across the street is a great draw too!) and as the downtown core continues to develop this will only increase the desirability. Transit hub is proposed for across the street, The Tannery, Breithaupt Block, new mixed-use zoning on Victoria - lots of pluses for the immediate area. There are a couple of 20 year old low-rise complexes that a number of our clients have 2 bedroom condos in, they're typically under $140,000 and located near Fairview Mall, and Highland & Fischer Hallman (near a very large Loblaws development). Some clients are buying townhouses and condos down near Conestoga, to take advantage of the large number of student tenants in that area. As Conestoga continues with its expansion, more students will come to the area. A number of our clients own units at Holborn at River Rd, in the buildings that Cook Homes built in 2008. These are a great value compared to other newer units - 1200 sq ft for $200-210K A lot of the investors I work with are buying newer or new townhouses in different areas - near Chicopee, on Highland, near The Boardwalk. These rent really well and offer fairly easy management. It depends on what you're looking for, long term goals, capital availability etc. With your permission I'll send you a message and we can chat a bit more. Thanks for info ,feel free to send me a message.

Kitchener-Cambridge-Waterloo CMA Rental Market Statistics