According to a report by the Real Estate Investment Group, Waterloo Region is the best place in Ontario to invest in real estate. In an interview with CBC News, Don Campbell, head of the Real Estate Investment Group, cited the region’s Light Rail rapid transit plan as one of the reasons to invest in the area.
“You’re seeing [BlackBerry maker] RIM and seeing the high-tech industries still continue to grow and hire,” he said. “And at the same time, they’re revitalizing the downtown of the old cities of Cambridge and Kitchener and now they’re talking about [light rapid transit].”
The report credits Light Rail as a method to significantly improve property values, even when established before higher-density development begins.
“Accessibility is a critical determinant of residential land values, and the improved access between urban centres and residential neighbourhoods greatly improves the value of homes. This is even evident when light rail precedes development”