Buy.

Purchased by members of OREG in 2025 to be developed into a 20 unit apartment complex.

DeVELOP.

This project is to be under development very soon.

RENT.

This property is projected to be ready for renters by mid 2027 and will be rented under OREG’s Management.

Economic Growth.

The city’s economy has grown by an average of 2.7% annually over the last five years. While COVID-19 shrank the GDP in 2020, experts forecast that Canada’s economy will resume growing by 5.3% in 2021 and 3.5% in 2022.

Home Values.

According to the Ottawa Real Estate Board (OREB), the average price of a residential-class property in Ottawa was $582,267 at the end of December, a 20 per cent jump from 2019. Meanwhile, the average condo sold for $361,337, up 19 per cent over a year earlier. 

Last month, Royal LePage said it’s forecasting the aggregate price of a home in the capital region to rise 11.5 per cent in 2021, well ahead of the overall average increase of 5.5% across all major Canadian markets. The brokerage said the spike is being fueled by the region’s stable government- and tech-driven economy, an influx of buyers from the Toronto area looking for better value and surging demand for roomier properties in the COVID-19 era.

Vacancy Rates.

With demand dampened by the COVID-19 pandemic and a growth in supply, Ottawa’s rental apartment vacancy rate rose to 3.9 per cent in October 2020. Vacancy rates went up in most of Canada’s major cities due to COVID-19.