KINGSTON & EASTERN ONTARIO
Eastern Ontario, stretching from Port Hope in the west to Algonquin Park in the north and the Quebec border in the east is, along with the Niagara Region, the oldest settled area of Ontario. Outside of Ottawa and Kingston, eastern Ontario remains a very rural part of the province, featuring many small towns with small apartment markets. Eastern Ontario also features the cities of Kingston, Belleville and Peterborough, which have long histories and are the administrative and industrial centres of their surrounding areas.
Eastern Ontario is a stable market with good average rents and moderate-to-low vacancies. Kingston, in particular, has a strong apartment market, thanks to its established industry, and the presence of a major university (Queen’s) and a Canadian Forces base. Investors have a lot of opportunity here in the form of student housing and in the repositioning of older properties.