Buy.

In November of 2020, OREG purchased a two lots where two 4-plex buildings will be built. The fourplexes are located in the quaint community of St Albert located 35 minutes outside of Ottawa and just minutes from the surrounding towns of Cassleman and Embrum, along highway 417.

BUILD.

The new build will consist of 2 main floor units and 2 lower level units. The first floor units have 3 bedrooms and 2 baths while the lower level units consist of 2 bedrooms and 1 bath. All 4 units will be rented with occupancy dates in winter 2021/2022.

RENT - HOLD.

With occupancy slated in less than one year, clients will have the option to act as capital lenders on the rented dwellings OR during the construction phase.

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.