01-27-2016, 08:04 PM
Condo buying frenzy in Waterloo as Google moves in
Quote:He finishes his speech. Then all hell breaks loose. Prospective real-estate investors surge to the back of the room, submitting paperwork for offers on one or more units as agents in suits shout and gesture to clients, who anxiously pace the aisles. Three hours later, the 250-unit, $85 million District Condos project is sold out and 170 people are added to a waiting list...
The fervent demand for property in Waterloo highlights the city’s coming-of-age as an investment destination: first by technology companies and now real estate firms looking to gain from the city’s metamorphosis. Real estate investors at the event, including families, seasoned individuals and couples, were looking for higher returns than in Toronto, where homes are sold for almost double what they are in Waterloo.