Housing as Investments in Nova Scotia: A 2022 Snapshot
In today's real estate market, property investment plays a significant role in shaping the housing landscape. Recent data from Statistics Canada’s Canadian Housing Statistics Program reveals the scope and trends in residential property ownership across Nova Scotia. In this blog, we’ll break down these insights and what they mean for property investors in the province.
Nova Scotia’s Residential Property Landscape
As of 2022, Nova Scotia had 449,585 residential properties. The majority of these properties were single-detached houses (298,570), followed by vacant land (81,300 properties) and multi-unit dwellings (26,020). Of these, a notable 34.6% were held as investment properties.
Investment Property Breakdown
Investment properties make up a significant portion of different property types:
Single-detached dwellings: 18.9% are held as investments.
Vacant land: A striking 85.9% of vacant land properties are investment holdings.
Multi-unit dwellings: 95.3% of these, including owner-occupied units, are investment properties.
Nova Scotia leads the way in Canada, reporting the highest proportion of residential properties held for investment purposes. Vacant land holds a large share (44.9%) of the investment properties in the province.
Halifax and Rural Areas: A Comparison
While Halifax, Nova Scotia’s urban hub, had a lower share of investment properties (25.4%), more rural areas like Guysborough, Chester, and Shelburne reported that over 50% of their residential properties were investments. These regional differences highlight how investment trends vary between urban and rural markets, providing opportunities for investors depending on their strategy.
Vacant Land: The Investment Hotspot
Vacant land dominates the investment property landscape in Nova Scotia. While it’s often cheaper than properties with dwellings, it accounts for a lower share of the total property assessment value. For investors, this may represent an attractive entry point into the market with potential for future development or resale.
What Does This Mean for Investors?
For property investors, Nova Scotia presents a unique landscape. The mix of affordable vacant land and strong demand for rental properties in both urban and rural areas makes the province a hotspot for real estate investment. Whether you’re considering single-family homes or multi-unit developments, understanding these trends can help inform your next move.
Key Takeaways
Investment properties made up 34.6% of residential properties in Nova Scotia in 2022.
Vacant land is a major investment opportunity, making up 85.9% of investment properties.
Rural areas, such as Chester and Guysborough, have a higher proportion of investment properties than Halifax.
At Chisholm Group, our team of experienced realtors is here to help you navigate the ever-changing real estate market in Nova Scotia. Whether you're looking to invest in residential properties or need advice on the best opportunities, we’ve got you covered. Reach out today to discover how we can assist with your property needs—whether it's buying, selling, or investing, our team is ready to help you achieve your real estate goals.
Contact us now to get started on your next investment!
