As homebuyers from cities like Vancouver and Toronto cope up with the soaring prices of homes for sale, Halifax seem to be the best deals in Canada,” according to City Mayor Michael Savage in an interview with BNN. The city can surely provide you with a huge number of Halifax homes for sale just right for your preference and budget.
According to Mr. Savage, the economy in Halifax is booming and they owe it to BP and Shell’s oil and gas investments and exploration plans in the area, as well as Ottawa’s Irving Shipbuilding’s multi-billion-dollar navy shipbuilding contract.
“The great development in the economy is anticipated to continue over the years,” the mayor said.
Halifax’s GDP is anticipated to develop by 3% in 2016, as driven by the city’s industrial boost, as per the Conference Board of Canada.
As the economic development aims to attract potential Canadians to the city, Savage claims that the Halifax homes for sale have still some marvelous options that will never break the bank.
In Nova Scotia, the Canadian Real Estate Association (CREA) said, home sales activities are anticipated to increase by 5.8% this year, with the average cost of homes on forecast is about to rise 0.2%.
In Canada, the hottest markets are Toronto and Vancouver with comparable rising prices about double digit paces year after year. For Vancouver, prices rose about 29.8% and for Toronto, about 15% in May last year, according to CREA.
In recent years, Nova Scotia struggled to keep young talents, but Mr. Savage tells that’s now changing as there are more companies like Royal Bank of Canada and IBM opting to expand their operations in the city.
Halifax offers a class A office space for businesses along its harbor and downtown area all for a reasonable and preferred rates.
“You can spend a nice time in downtown Halifax with its pubs and craft beers, and be on the pristine lake dabbling your heart out 20 minutes later. This is what the city can offer the young to Halifax as it draws most of their attention,” Mr. Savage said.
The city of Halifax is planning to grow its population to 550,000 in 2030 from currently 420,000. This should entice more people to buy Halifax homes for sale for shelter and to keep them in business.