Ottawa Property Market and Real Estate Guide

(Ottawa, Ontario - ON, Canada)

Canada's capital city, Ottawa is a rich and vibrant city with a young and diverse population. Its downtown district is brimming with charming 19th century architecture, museums and myriad international restaurants.

The city has one of the fastest-growing real estate markets in the world. Close to one million people live in Ottawa and they constitute the highest-educated workforce in Canada. Many residents live in the downtown district, where the UNESCO-honoured Rideau Canal sets the tone. The Glebe, an arts district, is an increasingly popular place to live.

Property prices in Ottawa are half those of Vancouver, and they're also well below prices in Toronto. What's more, Ottawa residents enjoy one of the world's best qualities of life (ranking sixth by one survey), so it's no surprise that this is a popular place to buy or rent a home.

Renting Serviced Apartments

Given the number of extended-stay business travellers and foreign government workers based in Ottawa, there is an outstanding selection of serviced apartments downtown. Many of these are around Sandy Hill, due to the concentration of embassies. Byward Market also has several serviced apartments.

These are fully furnished, feature VIP services and include facilities like a gym and swimming pool. Expect to pay two to three times the rent of a regular, unfurnished apartment without service staff. Serviced apartments don't offer much savings over standard three- and four-star hotel suites.

Buying Apartments and Houses

There are few restrictions facing foreign nationals wishing to buy property in Ottawa. The most affordable downtown options are studios and small condominiums. Free-standing houses cost much more in the city, but better value for money is available in the Glebe and outlying suburbs.

Finding a dependable lawyer is an important part of purchasing property in Ottawa. Transfer taxes run at around one per cent, but jump up to two per cent depending on property price. The goods and services tax (GST) combined with legal fees are likely to total ten per cent of the property cost. Property owners pay an annual property tax, and anyone buying a condominium or moving into a gated community has annual fees to consider as well.

Real Estate Agents

Sifting through the real estate agencies in Ottawa is daunting. There are many to choose from, and it can be a challenge to identify which ones are concerned about buyers' best interests. It's a good idea to shop around, scheduling meetings with a few of the agencies that interest you. Consider asking advice of anyone who recently purchased property in the neighbourhood you're considering.

Language barriers are not an issue, as English and French are the national languages.

Look into the following Ottawa realtors and real estate agents:

Ottawa Living
Address: 53 Rosebery Avenue, Ottawa, Ontario, Canada
Tel: +1 613 288 9144
Email: info@ottawaliving.ca
Website: www.ottawaliving.ca
Ottawa Living is a dependable real estate portal that offers a range of services and advice as well as apartment rentals and real estate.

Faulkner Real Estate Ltd
Address: 110 - 333 Preston Street, Ottawa, Ontario, Canada
Tel: +1 866 231 4663
Email: e-mail@homesinottawa.com
Website: www.homesinottawa.com
Faulkner Real Estate is a well-connected independent brokerage that happily provides information on the local real estate scene. The Chamber of Commerce named it 'best new business' when it opened in 2000.

Ottawa Properties
Address: Suite 204, 2255 Carling Avenue, Ottawa, Ontario, K2B 7Z5, Canada
Tel: +1 800 341 1590
Email: mail@ottawaproperties.com
Website: www.ottawaproperties.com
Headed by Bill Renaud and Ray Otten, Ottawa Properties has a comprehensive list of homes for sale in Ottawa.