Here’s how much it costs to live in Justin Trudeau’s neighborhood

The Canadian capital has its arms open to foreign RE investors

New York Weekend Edition /
Feb.February 04, 2018 05:38 PM

Prime Minister of Canada Justin Trudeau. (Credit Alex Guibord/Flickr)

Move to Rockcliffe Park in Ottawa and your could technically call yourself a neighbor to the Prime Minister of Canada, or, if you don’t actually plan on living in the quiet capital, the neighborhood is your best investment bet in the country, according to Mansion Global.

The average home sold for $1.5 million last year and rented for between about $8,000 per month to $20,000. Compared to last year, the price of single-family home increased more than 7 percent. The reason for the area’s high demand could be explained by the high ratio of diplomatic and elected officials, about 150, to normal citizens, about 700.

“It’s the premiere place to live,” said Marilyn Wilson of Dream Properties/Christie’s International Real Estate to Mansion Global. But “Ottawa is the city to look to for investing” as well, she added.

The city has no restrictions on foreign buyers, unlike Toronto or Vancouver where restrictions were imposed to limit an influx of foreign real estate investment.[Mansion Global]Erin Hudson


Related Articles

arrow_forward_ios
Photo Illustration of Elon Musk (Getty)
Musk could save $2B in California taxes on Texas move
Musk could save $2B in California taxes on Texas move
The year-over-year rise in home prices was just below the 19.8 percent annual rise in August. (iStock)
Home prices up 20%, but buyers, take heart
Home prices up 20%, but buyers, take heart
Landlords were less likely to respond to renters they thought were African American or Latino. (iStock)
Landlords more likely to ignore applicants of color
Landlords more likely to ignore applicants of color
Newest unicorn is property-services startup Lessen
Newest unicorn is property-services startup Lessen
Newest unicorn is property-services startup Lessen
The 17 Jane Street duplex condo (Compass)
Manhattan luxury market logs best Thanksgiving week ever
Manhattan luxury market logs best Thanksgiving week ever
Brownstones rule Brooklyn’s luxury market Thanksgiving week
Brownstones rule Brooklyn’s luxury market Thanksgiving week
Brownstones rule Brooklyn’s luxury market Thanksgiving week
Housing construction in the Bay area (iStock)
California falling short in creating affordable housing, new ‘report card’ shows
California falling short in creating affordable housing, new ‘report card’ shows
Deconstruct Podcast
Now streaming: TRD’s podcast on Zillow’s iBuying collapse
Now streaming: TRD’s podcast on Zillow’s iBuying collapse
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...