Real Estate Investing in Prince George is one of the best options to go for Real Estate. Prince George is found in central BC and is a one-hour flight from Vancouver, Calgary, and Edmonton, making it easy to move for recreation or business.
With a population of approximately 80,000, Prince George and its surrounding areas offer a variety of investment opportunities in commercial real estate. There is a strong economy and steady growth in several key sectors.
Prince George offers freshwater fishing in any of the many lakes and rivers, and there are opportunities to go deep water by road or in the woods.
Prince George also has hiking trails that allow ramblers to travel along the corridors he explored in those days, leading to beautiful views of the top of the waterfall. There are also opportunities for cross-country skiing maintained by the Otway Nordic Center.
After the thaw, golfing focuses on Prince George (and in northern BC, which has several excellent courses). There are many courses and clubs in or near Prince George.
Camping is a treat here too, and many provincial parks and lakes have campgrounds. If necessary take the kids to any number of exciting and fun festivals and events throughout the year, including Prince George’s Traditional Pow Wow, PG Exhibit, West of the Rockies Pro Rodeo, Winter Lights Festival, Cold Snap, and more.
Commercial Real Estate Investing in Prince George
The area offers business development opportunities for retailers with its locations, transportation along road and rail, and a large inventory of light to heavy industrial land. Our industrial land offers many opportunities for manufacturers who want to live along the Northwest Transportation Corridor. Backed by forest and mining resources, the region is a service center for natural resources, construction, and other field activities.
British Columbia’s competitive taxes and stable and well-regulated financial system attract investment from around the world. Provincial tax credits, exemptions, and deductions help businesses to invest and innovate. These are more reasons to run a business at Prince George.
These agreements are designed to reduce or eliminate trade barriers, with the British Columbian government signing international and domestic agreements. When investing in Prince George, these trade agreements provide preferential market access which makes it easier and more efficient to do business.
Benefits of living in Prince George
Viability – Prince George’s overall viability score is above average. This rating is the sum of the city’s data points and factors, and then the weighting of these variables is used to determine a good standard of quality of life compared to other cities. The livability score calculates education, crime, cost of living, and residents’ overall happiness as a predictive index through our advanced statistical model.
Cost of Living – When choosing a new place to live, the cost of living is an important consideration. The cost of living in Prince George is lower than the national average and most cities in the state. While some areas may be higher than others at the state and federal level, the overall average is less expensive for housing costs, utilities, grocery items, transportation, health care, and miscellaneous goods and services.
Crime – Prince George has a low crime rate compared to other sparsely populated suburban areas nationally and statewide. Every day about half the population thinks about crime and safety. If you call Prince George home or are considering moving here, chances are you shouldn’t worry as much, and it’s an important supporter and consideration for staying here.
Education – Overall, education is good for the sector and ranks high nationally and statewide compared to other cities. These ranking calculations consider factors such as the public school graduation rate, enrollment rate, teacher-to-student ratio, and student and parent reviews. These data and scores are a weighted average of schools in the area.
The Cons of Living in Prince George
Population Size – The city has only 2,129 inhabitants which are considered very small. Various surveys have shown that the economic condition of small towns is much worse than that of big cities.
High Poverty Rate – Prince George’s residents have a poverty rate of 24.3%, which is higher than other cities in the United States. The average poverty rate in US cities is around 10-13%.
Single-detached homes are the most common housing type, describing the majority of Prince George’s homes, and the remaining properties are originally small apartment buildings. The city is mainly formed of houses with three bedrooms and four or more bedrooms. About 70% of the units in Prince George are owned by homeowners while the rest are occupied by tenants.
The city is a large part of the Greater Prince George metropolitan area for traveling by car. Finding a parking spot is easy. On the other hand, the public transport service in this city is quite poor.
Nonetheless, residents are served by about 30 bus lines, and the nearest bus stop is usually relatively close. Most of the houses for sale in this city are located in places that are not very convenient to move around as there are very few simple tasks that can be done without resorting to a car.
Walking to one of the nearly 40 grocery stores is practical for some property owners in this city, but not for all. There are also some options for those who care about restaurants nearby.
When it comes to education, families can find it challenging to walk through high school and elementary school as pedestrians for their children. Plus, it can be difficult to move from homes for sale to daycare in this city.
Prince George offers a relaxing atmosphere and will appeal to home buyers who enjoy spending time outside. Access to parks such as Parkridge Creek Park and Cranbrook Hill Greenway is easier than in many downtown locations, as it is easy to get to the nearest one from most homes for sale and has more than 300 green spaces for residents. The city is also quite quiet, as the noise level from traffic is generally low.
Know everything about Business and Development and Real Estate Investing in Prince George, BC at https://www.princegeorge.ca