By Condo Culture
Pictured above: An exterior rendering of The Birches in Cambridge.
The city of Cambridge has lots of wonderful attractions to take in, the population is growing consistently year over year, the real estate market is booming, and the central location is attractive for both its residents and visitors wanting to explore it.
There are several quality Cambridge condos and townhomes worth noting including the hot, new development at The Birches, The Gaslight Condos, The Grand River Lofts, Spruce Street Lofts, RiverFront Condos, The Grand Condos at Waterscape, 635 Saginaw Parkway, 250 Ainslie Street South, and several others.
The Fantastic Location
Cambridge really does have an outstanding location in south-western Ontario as it’s a relatively short drive to Kitchener-Waterloo, Guelph, Brantford, Hamilton, London, Stratford, Oakville, Toronto, Niagara Falls, the United States, and many other significant cities and towns.
The public transit system continues to evolve within the Tri-City area and includes buses from Grand River Transit, so getting around Cambridge and the Waterloo Region is easily done, and the Go Transit bus service provides a route to and from Mississauga.
The average apartment-style condo in Cambridge has increased in value by more than $130,000 over the past year from April 2021 to April 2022. Townhomes in Cambridge have experienced $139,000 in price growth during the same span.
The city of Cambridge is appealing to people in nearby communities, and also to immigrants making their way to the region from countries all over the world. The demand for homes in the city is strong and outpacing supply, so buying or investing in Cambridge is a strong value proposition to many different types of people.
In terms of rental rates, the average one-bedroom condo in Cambridge costs $1,800/month while two-bedroom units garner just over $2,500/month. Both one and two-bedroom homes have seen their rental rates increase by at least 5% over the past year. These types of numbers are of particular interest to investors who are looking at the financial prospects of Cambridge condos and cash flow scenarios.
Cambridge is home to a collection of interesting places to venture out to including the Cambridge Butterfly Conservatory, the Fashion History Museum, a few notable art galleries, several golf facilities including Whistle Bear Golf Club, and a generous number of historic buildings such as McDougall Cottage which dates back to 1858.
There are a few great trails to navigate, parks and conservation areas including Riverside Park and Shade’s Mills Conservation Area, the farmers market runs from June to September and has been a staple in the city since 1837, there are annual events such as the Cambridge Arts Festival, and the Grand River is perfect for riding down on during warm, sunny days.
There are some incredible restaurants in Cambridge with all types of global flavours including Langdon Hall Restaurant which was built in the late 1800’s, Cambridge Mill Restaurant, Saffron Restaurant and Bar, Obie’s Bar and Grille, Amici, Latinoamerica Unida, plus more. No matter what your taste buds are in the mood for, you can experience cuisine ranging from Mexican, Indian, Asian, Thai, Italian, Japanese, American, and almost everything in between.
Want to indulge in beer, wine, or other adult drinks? A shortlist of breweries include Four Fathers Brewing, Grand River Brewing, Rhythm and Brews, Barncat Artisan Ales, plus others. If you’re craving some tasty vino then you can venture over to Magnotta Winery - a location with all types of wines, ciders, coolers, spirits, and more.
Cambridge’s population grew by 6.6% between 2016 to 2021 and rose to almost 140,000 residents during that time period. The city is now the 19th most populous city in Ontario and ranks 41st across all of Canada.
When you take a look at everything that Cambridge has to offer, it’s not surprising that it has grown fairly quickly, and appears to be well-positioned to further outpace many cities across the province and country for years to come.
There are a bunch of strong employers in Cambridge including Honeywell, Loblaw Companies Limited, Toyota Motors, Eclipse Automation, Aecon Industrial, Frito-Lay Canada, and countless others, plus there are 10,000+ businesses in total. Manufacturing employs roughly 20% of the total workforce, but there are also many other industries represented in Cambridge including engineering, legal, accounting, education, transportation, logistics, finance, insurance, and others.
We absolutely love serving the fabulous people of Cambridge and would thoroughly enjoy helping you to sell, buy, invest, or lease a condo in the area. Get in touch with us to have a conversation, or if you happen to be in the Waterloo area, drop by our store at 191 King Street South - we would be pleased to meet you and discuss condos!