Real estate developers in Ontario are expanding into smaller cities and semi-rural areas to meet the increasing demand for housing in the wake of changes in work patterns brought about by the pandemic. The ability to work remotely has led to a surge in demand for homes with room for home offices in suburban and smaller areas. Developers are acquiring vacant land in places like Niagara, Wasaga Beach, Collingwood, Hamilton, Guelph, Ancaster, St. Catharines, and Waterloo, as they expect these areas to continue growing in population, resulting in increased demand for housing. The prices for suburban and rural land are reaching record levels, prompting developers to shift their focus to smaller cities and towns with growth potential.

Source: The Globe & Mail

Author: Rachelle Younglai

Published: May 6, 2022