New member from Halifax, Nova Scotia

[Jeremy Arsenault]

Hey folks,

My name is Jeremy, 

I'm based in Halifax , Nova Scotia and first got into real estate back in 2016 when my wife and I purchased and rehabbed a 100 year old duplex in Halifax's north end.  From here we're looking to grow our portfolio with a few additional small multifamily properties over the next couple of years.

Would love to connect with other local investors in the Maritimes , and please feel free to reach out.

Cheers,

[Paul Mackay]

I'm with Andrew on this one. The Halifax market is healthy and strong, you can see growth and change in the bedroom communities of Fairview and around Dartmouth as well. I live a block from downtown Dartmouth and it's been interesting to see exclusive listings with sold signs pop up out of the blue, as well as homes going over asking. 

I grew up outside Wolfville, and i've turned into the "valley guy" for my Halifax brokerage. Not only do you have a university in Wolfville, but you have a large demographic of retirees selling their city homes and moving to the valley. I'm not familiar with the Airbnb market in the valley, but with the strong tourism market in the area,  it will be something I will be looking into.

In regards to the Airbnb market in HRM, there has to be 50% more Airbnb rentals in the past year. A lot of these products are spot on, highly stylized rentals. I have one Airbnb, and performs 3x better than if I had it rented with a long term lease. 

I read city council notes regularly, and in my opinion there will be new Airbnb rules for the city. Will they be aggressive like Toronto and Vancouver? No. I sense they will want to regulate it lightly and tax it appropriately. 

Also on the council notes are discussions on the infamous "centre plan," it sounds like they're gonna promote making our city more dense and to facilitate an aging demographic by allowing in-law suites in R1 zoning. Is this set in stone? Not as far as I can see, but I get a very progressive open vibe to what i've been reading. 

For anyone who wants to dig in, I suggest going on Halifax.ca and searching Airbnb and In-law suites.

Paul Mackay