Waterloo condos

New Condos For Sale In Waterloo

Sometimes referred to as the Silicon Valley of the north, Waterloo and neighbouring Kitchener have positioned themselves a hub for technology in Ontario. Companies from across the globe set up shop both in Waterloo and Kitchener, tapping into its rich tech-educated work force. Some notable companies that are headquartered or have offices in Waterloo are Blackberry, Google, kik messenger, Maplesoft, Shopify, SAP, Intel, Electronic Arts and Agfa. Waterloo has also attracted many different insurance companies over the years like Manulife, Sun Life Financial Canada and Economical Insurance.

This is why Waterloo, Kitchener and Cambridge (referred to as the Tri City) will continue to grow in Ontario. The search for additional skilled labour is even driving people out of Toronto to move in the area. 

With such a demand for people specializing in technology, the need for luxury real estate, especially Waterloo condos, have been in high need. When it comes to new condos, Waterloo has been outpacing other Ontario regions and the price of a property is attractive too. Project developers in Ontario have taken notice and there are new condos and townhomes being built quickly, but even then, the new condo development project list in Waterloo is still not going to meet the needs of all the estimated future property growth.

Currently, Waterloo has over 20 new condo units, single family apartment, or housing communities in construction or in planning. LivSmart Condos is one of the more unique new condo projects available in Waterloo. Its project layouts are optimized for feeling open and larger then they actually are. With big windows and suits starting in around 500 square feet all the way to just over a thousand. The project only has 39 units available for sale, so the property is sure to sell out quick. Society145 The Waterloo Residences is another upcoming new condo project with a good price. It’s more upscale with amazing ameneties like a sauna, business lounge, parking, basketball court and even a Yoga Studio. Condos available in this urban Waterloo property make the perfect place to start a family in.

Even if you’re not planning to move to a new condo in Waterloo, Ontario, it still might be the right move to invest in a Waterloo development project. With its potential for big return and the demand for rentals, Waterloo condo units can bring big returns. Another thing to consider is the demand for year long leases in Waterloo. Waterloo is home to two major universities – University of Waterloo and Lauier University. The latter is ranked number 1 for comprehensive research for 12 years in a row (Research Infosource 2019), Canada’s most innovate university for 28 years and ranked number globally for employer student connections (QS Graduate Employee rankings).  That is some high praise for Ontario as well. Laurier University is no slouch though. Its business programme which is internationally recognized is also the largest in Canada. Launch Pad which is Laurier’s incubator is funding 30 high potential start-ups. Depending on what you want to study both are excellent options.

 

Waterloo, Kitchener and Cambridge makes what is sometimes called the Tri-city in Ontario. Their close proximity to each other especially Waterloo and Kitchener make up the majority of the population for south central Ontario. Waterloo, Kitchener, and Cambridge has almost everything that a much bigger city has to offer such as Mississauga. Waterloo and Kitchener are set to see its biggest property growth in the next few years to due the new high-speed train that is going to connect the area with Toronto and eventually Windsor. The estimated travel time via the new train system is around 45 minutes which is substantially less than what it is now by car.

And as stated above, the inexpensive real estate and new demand for high-skilled technical jobs will also fuel the expansion of developments in Waterloo, Ontario. We can only expect project after project in Waterloo very soon.

Waterloo has plenty of things to do, some are even unique to the this Ontario location. One notable attraction is taking a tour of the Toyota assembly plant. Or maybe you’re interested in a selfie with a giraffe? Not too far away is African lion safari, where you can take a picture with a giraffe or any other animals that are native to Africa. Looking for something a bit quieter in Ontario?  There are some great Waterloo spots for a cocktail. White Rabbit is just what you might be looking for. The specialize in many different mixed drinks. If you’re looking for a great place to enjoy a beer in Ontario? Why not give Abe Erb a shot. Some other Waterloo places that specialize in their respective cuisines are StrykerZ Kitchen and Bar (sports themed burger and pizza place),  Bhima’s Warung (Indonesian, Vietnamese & Thai), Exotica (Fusion kitchen & Cafe pub), King Street Trio Uptown (new Canadian/ seafood with a romantic setting), Korner Kitchen Breakfast and Lunch Eatery (breakfast and sandwiches), Gol’s Lanzhou Noodle Waterloo and to finish it off Waterloo Red Ginger Modern Thai + Viet Cuisine. These are all excellent options in Ontario with a Google score of 4.5 or high. Depending on what you’re in the mood for, you’ll always find a new place at a reasonable price.  

Waterloo City, Ontario also has all the necessary daily amenities like Home Depot, Wal Mart and many different groceries and shopping centres. The biggest is the Conestoga Mall. It is home to Winners, Zahrs, H&M, Sport chek, Foot Locker, Indigo,  La Sensa, the city of Waterloo museum, Sephora and Galaxy cinemas. The mall has over 130 different stores and a food court with fourteen different options. With urban amenities available near Waterloo condos and property developments, you don’t need to search very far in the city.

While both Toronto and Niagara Falls in Ontario are relatively far away from Waterloo condos, the drives are quite easy. Both connect to the Waterloo, Kitchener and Cambridge via major highways. The 401 leads straight to Toronto, Ontario and eventually connects to the 427 and Don Valley Parkway that connect to the downtown core. It also connects to highway 6, leading you to Hamilton. Once there, jump on the QEW and a romantic night in Niagara Falls is only 40 minutes away.

King St. is the major municipal thoroughfare near condos in Waterloo. You can travel from Uptown Waterloo to Concession Road through King St. It’s also worth mentioning that a major project is coming to King St. as it’s going to be the new home of the ION rapid transit network.

Now let’s talk about the price of a condo property or project. The average sale price of a new condo in Waterloo, Ontario is at $483,275. As for property rental rates, the price is at $1,100. There are still many new condos available for sale, but the condo vacancy rate is at 2.9%. It can be a  bit tricky to search for an available property for sale in this Ontario city, but the price of condos is lower compared to a property in other Ontario areas. Parking is also something you should search for in a property. Actually, a lot of people search for parking first when they purchase a unit.

We update our map and condo units results frequently and pride ourselves on keeping information such as price and available property homes as new as possible, but the nature of condo developments and project construction changes so often. If you’re on the search for specific condo units, property developments, or any new project in the Ontario area, please contact us.

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