Looking to live in a vibrant community away from the metropolis buzz?
Then you might want to check out new condos in Kitchener. The area is booming but does not overwhelm its residents with the big-city noise and fast-paced living. Instead, Kitchener is growing and evolving, attracting more and more new residents and investors.
The city is changing its skyline and transforms its streets to improve the life of every resident. So, if you are interested in this lovely area and its real estate market, keep reading!
Why Invest in Pre-Construction Condos in Kitchener
Before looking through all the new condos in Kitchener, you may begin to wonder:
Is Kitchener real estate a good investment?
Now, there are multiple reasons to invest in new condominiums in this city. The main one is, of course, the exponential growth of the real estate market. The city has received around $1.2 billion in building permits. Countless projects are on their way, all aimed at transforming the city’s urban look. The downtown core is facing redevelopment as well, as the streets become more walkable and the area transforms into a livelier, more vibrant community.
While the real estate market in Kitchener is evolving and receiving huge investments, there are other factors that make the city worth your attention. Kitchener is a part of the Tri-City region that also includes Waterloo and Cambridge. Kitchener is the biggest among them, with a population of more than 240,000. And as the city is developing further, it attracts more and more people, which results in a steady population growth.
That’s great news for you as an investor. Firstly, the growth of the city means favorable economic conditions. Secondly, the stable population growth means that there will always be a growing demand for housing. You will have plenty of potential tenants (or buyers) in the future.
Speaking of potential tenants, let’s not forget about the local students. As there are campuses of the two country’s best universities located in the area (The University of Waterloo and McMaster University), Kitchener welcomes thousands of students as its new residents. Most of them seek housing, and condos remain the most popular option.
The region’s economy is flourishing as well. Kitchener is famous for its tech industry. The city is the hub for some big digital media companies. For instance, in 2018, Google opened its largest Canadian R&D office in the downtown core of Kitchener. Additionally, two of the top-three Canada’s fastest-growing companies are located in Kitchener (Intellijoint Surgical and ApplyBoard).
While there are many new pre-construction condos in Kitchener, you may want to familiarize yourself with the local real estate market before checking them out.
Now, there are hundreds of new listings appearing regularly. On average, a new listing spends around 12 days on the market. The average house price in Kitchener is around $630K. This number includes condominiums, townhomes, and detached houses.
Talking strictly about new condominiums, theaverage price is $392K. While the real estate market has slowed down because of the pandemic, the average condo prices managed to stay relatively stable. However, experts predict at least a 3% growth by the end of this year.
Now, if you are checking brand new condos for sale in Kitchener because you plan to lease your unit out in the future, consider the average rent costs in the area:
Unit type
Average rent cost (per month)
Studio
$1,150
1 bedroom
$1,405
2 bedrooms
$1,600
3 bedrooms
$1,860
As the vacancy rate in Kitchener is around 2.9%, the demand for condos is quite strong, which means you will have plenty of potential tenants if you choose to invest in a condo under construction in Kitchener.
The List of Brand New Condos for Sale in Kitchener
About: Located in the heart of Kitchener, the Young Condos is a new, inspiring project that is meant to change the residents’ look on modern living. Supporting sustainability, this new condominium will implement efficient, smart technologies and thoughtful designs. This will include individual heating systems and longer-lasting lights. Along with the on-site amenities, the residents will have easy access to all the main downtown facilities and commercial spots, thanks to this condo’s convenient location.
About: If you are dreaming of living in a stylish high-rise building, then you might want to consider this condo under construction. The DTK is a new project that is supposed to combine the highest living standards and the convenience of an urban lifestyle. Every suite will include a technology package for convenient controls. Plus, the residents will enjoy high ceilings, lots of light, and great views from the top floors.
Location: 1000 Lackner Blvd, Kitchener, ON N2A 1H3
Developer: Reid’s Heritage Homes
Estimated completion: to be announced
About: Even though there aren’t many details revealed about this new condo under construction, we can expect a lot from it. Reid’s Heritage Homes is a developer that is famous for their elegant, chic designs and quality finishes. Their new condominium is going to be located near the untouched nature, but with all the needed amenities within reach, which makes it perfect for families or someone who wants a serene suburban life.
About: Fitting perfectly into the modern living standards, the Bright Building offers a hygge-inspired lifestyle to its residents. The building is going to be filled with extras to make your life more comfortable, including high-speed elevators, storage lockers, parking spaces, an automatic parcel delivery system, a comfy hygge lounge zone, an outdoor terrace, and more. Living in the Bright Building, you will be likely to never want to leave.
About: Offering spacious 1-bedroom, 1 bedroom + den, and 2-bedroom suites, the WestEnd Condos is a great place for someone who wants to live in an elegant townhouse. This isn’t your typical high-rise condo under construction. Instead, the WestEnd offers a calm, rural atmosphere with lots of outdoor spaces and all the modern conveniences you may require.
Location: 120 Victoria Street South, Kitchener ON N2G 2B3
Developer: Momentum Developments, Zehr Group of Companies
Storeys: 26
Estimated completion: 2021
About: Surrounded by shopping, dining, and commercial spaces, the Garment Street tower is the embodiment of modern living. This high-rise building is going to offer suites of a variety of styles and layouts, all featuring top-notch materials and appliances. You can also expect large windows, airy designs, and a ton of on-site amenities (including a basketball court, a pool, and even a BBQ terrace).
About: Overlooking the lush Victoria Park, the Charlie West condominium is located in the heart of Kitchener and one of its fastest-growing neighborhoods. The high-rise building will feature lots of glass details, tall windows, and spacious suites. The light-filled apartments of various layouts will have top-notch kitchens, tall ceilings, and quality finishes suited even for the most demanding residents. And one more good news: the building is pet-friendly!
About: Neutral color palettes, natural materials, and sleek elements make the Hush Condos a wonderful place to live, especially if you appreciate modern but cozy designs. There will be both townhouses and residential suites available, so you have plenty of options and unit layouts to pick from. Additionally, this new condominium will have countless on-site amenities and will offer easy access to all the essentials in the city.
Kitchener is a lively, vibrant community. The city prides itself on its rich cultural background and history. Settled by German Mennonites, Kitchener is the home for residents of various ethnic origins, including German, Canadian, English, Irish, French, and more.
The culture of the area is also quite rich. Kitchener is home multiple festivals, including the Kultrun World Music Festival, the Kitchener Blues Festival, and the Kitchener–Waterloo Oktoberfest. The city also makes a contribution supporting the LGBT community and hosting the Tri-Pride and the Rainbow Reels Queer and Trans Film Festival.
Another great thing about Kitchener is the nature of the area. Victoria Park, Rockway Gardens, the Grand River, and many other picturesque spots and green spaces are available to residents and visitors. Kitchener is an excellent place for people who enjoy hiking, biking, and spending their time in the fresh air. It’s also a great place to raise children, as Kitchener can offer countless activities to keep your kid happy, entertained, and active.
Kitchener can boast of a good education system. There are public schools, universities, and colleges that cover different areas of study and attract students from all over the country.
Now, another important aspect you may want to know about is the accessibility. After all, choosing a city to live (or invest) in means that you will have to get around somehow. Luckily, Kitchener offers plenty of options. There are several major highways nearby, so you will easily get to Toronto or elsewhere.
There are also bus services, railway, and multiple GO transit options available. The new ION Light Rail project is on its way, which will offer a high-speed connection between Kitchener and Waterloo. The closest airport is the Region of Waterloo International Airport. You can also travel to the John C. Munro Hamilton International Airport or Toronto’s Pearson International Airport, but it will take you longer to get there.
Everything considered, Kitchener is a great place to live, start (or expand) your business, or invest. The city has a lot to offer and keeps growing, promising even more to come in the near future.
Young Condos – 15 minutes away from highway 401. 10 minutes away from the Kitchener GO Train Station (by foot). The new LRT stop will be right at the building’s door.
DTK Condos – Close proximity to the Frederick Street ION Station. Walking distance to the GO Transit station. Easy access to highway 401.
Lackner Ridge Condos – Easy access to highway 401. 10 minutes away from the Kitchener GO Station (by car).
The Bright Building Condos – The Kitchener GO Station is 17 minutes away (by foot). Multiple bus stations nearby. 3 minutes away from the Downtown Kitchener and the Uptown Waterloo (by car).
Westend Condos – Easy access to highway 7/8. Bus stops within walking distance.
Garment Street Condos – Close proximity to the Kitchener GO Station. Walking distance to bus stops. Easy access to highway 7.
Charlie West Condos – Easy access to highway 7. Minutes away from multiple bus stops, the Kitchener City Hall Station, and the Victoria Park Station.
The Hush Condos – Close proximity to highway 8. Easy access to highway 401. Multiple bus stations within reach. Walking distance to the Allen train station.
F.A.Q.
Is Kitchener a good place to invest?
Yes. The Kitchener-Waterloo area is one of the fastest-growing, innovative regions in Ontario.
Is Kitchener a safe place to live?
The level of crime is rather moderate in Kitchener. However, it was increasing slightly during the past year, and the biggest problem in the city is linked to drugs. This does not mean that Kitchener is a bad place to live, but you might want to be cautious when being outside during the nighttime.
Is Kitchener a cheap place to live?
For a single person, the monthly living cost is around $1,090 (without rent).
Where should I live in Kitchener?
A survey by RE/MAX Brokers showed that the best places to live in Kitchener were Beechwood, Doon, and Stanley Park neighborhoods. The rating was based on their proximity to green spaces, walkability, accessibility and public transportation, the variety of dining options, etc.
How long does it take to get from Kitchener to Toronto?
It would take you around 1 hour and 10-25 minutes to get to Toronto from Kitchener (the driving distance between them is 107 km).
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