All real estate in Halifax, Canada

Location, climatic conditions, and economy

Halifax is a city in Canada, located on the Atlantic coast of the country. It is the center of the province of Nova Scotia.

The climate is temperate continental, despite the proximity of the ocean, which is explained by the influence of westerly winds from the depths of the mainland. The Atlantic Ocean, however, somewhat softens climatic manifestations in coastal areas. The average annual temperature is +7.5°C.

The following sectors of the economy are developed: shipbuilding and car building, mining, oil refining, fishing, fish canning industry, and tourism. In recent years, natural gas fields have begun to be developed on the shelf near the city, the country's Armed Forces are the largest employer (the largest naval base is located here, the shipyard is intended for the construction of new warships). Halifax is one of the four largest container ports in Canada in terms of the volume of cargo handled.

Market and real estate prices in Halifax

The real estate market in Halifax is growing, demand remains high, houses are selling quickly. So far, very few properties have been put up to meet demand. As a result, property prices in Halifax are breaking records (they have more than doubled since 2019). Halifax has the highest base price in Nova Scotia. However, buying real estate in Halifax can be significantly cheaper (the base price is 47% lower than the national average). Experts argue that this is a more accessible market compared to other large cities, with comparability of infrastructural capabilities.

The economy is developing, the population of the city is increasing, demand is outpacing supply. As residential real estate in Halifax is booming (housing construction is at its highest level in the city's history), there is a reason to believe that rising supply may soon ease the pressure on the market, and it will become easier to buy residential property in Halifax.

As for the commercial fund, investments in commercial buildings decreased, while in the industrial, institutional and government segments, they increased significantly. Completion of projects and commissioning of facilities also kept pace (annual growth of 28%). In the first place - apartments in the residential complexes, then - semi-detached and row houses. Customer reviews confirm the compliance of the facilities under construction with quality standards.

In the second half of 2022, experts are more cautious in their estimates. In their opinion, the growth in prices and sales volumes will not be so significant compared to the period of 2021 and early 2022, since monetary policy on interest rates has tightened: due to rising inflation, The Bank of Canada raised rates for the first time in five years. Demand will have some decline, but the activity of investors in the market will again begin to strengthen at a moderate pace. According to some forecasts, the average property price will increase by 10-11%, and the trend will continue in 2023. This point of view is not shared by all experts, some economists expect a steady downward trend. But, in any case, all commentators agree on the opinion: prices will be higher than the period before the pandemic.

The cost of real estate in Halifax:

• one-bedroom apartment in the center - 410,000 USD,
• apartment with two bedrooms, exclusive design, park view, 210 sq. m - 1,650,000 USD,
• commercial premises - 210,000 USD,
• townhouse - from 290,000 USD,
• house/cottage - from 350,000 USD,
• land plots - from 40 USD.

Due to the high price dynamics, it makes sense to use only the information that is current at the time of the request.

Property types for sale:

• primary and secondary fund:
• residential properties (apartments and apartments, detached houses, cottages, villas, row houses, townhouses, etc.),
• commercial facilities (warehouse, office, retail space, hotels, apartment buildings, etc.);
• land plots.

The GEOLN.COM real estate website with a user-friendly interface allows you to quickly search the catalog of real estate objects from the developers or owners in the secondary market without intermediaries. The sale of real estate in Halifax is regulated by law, transactions are transparent and safe, but in order to minimize risks, it is advisable to use the information of experts and follow their recommendations.

Buying real estate in Halifax is a promising investment project with a relatively low investment price, which brings a stable rental income and makes it possible to live in a city with a developed economy and a high quality of life.