Ottawa’s real-estate market is tilting quickly toward condominiums thanks to demographics, says a broker just named Keller Williams International’s global top seller in 2010.
“Seventy per cent of our workers in Ottawa are in government jobs. In the next year or so a lot of them will be eligible to retire,” said Marnie Bennett, owner broker of Bennett Real Estate Professionals. Bennett, who took the top spot after her team made 600 home sales in 2010, said condominiums now account for roughly 20 per cent of Ottawa’s real estate market.
Ten years ago condos would have been less than five per cent.
Two large demographics, baby boomers and Generation Y have contributed to the shift, she said.
Offering enhanced services such as advice to those two groups on wealth management and using real estate as an investment helped propel her team to top spot, Bennett said.