A province outperforming national trends
While property markets in Ontario and British Columbia face tightening affordability, slower sales, and rising interest-rate pressure, Nova Scotia has quietly emerged as one of the most resilient and promising real estate markets in the country. Once considered a modest regional market, it is now outperforming several major provinces across nearly every key indicator: population growth, economic expansion, infrastructure investment, and housing demand.
According to the Canadian Real Estate Association, the average home price in Nova Scotia reached $488,760 in mid-2025, representing a 6.1% year-on-year increase. At the same time, national averages either stalled or declined. This stability highlights a market that is not only growing, but doing so on a sustainable foundation – one driven by structural demand rather than speculative cycles.
Halifax–Dartmouth, the province’s largest metropolitan area, illustrates this trend most clearly. More than 40% of listings now sell within a week, with the majority purchased within a month. In practical terms, that means supply is being absorbed faster than it can be replenished, keeping pressure on prices and supporting long-term appreciation.
Affordability driving interprovincial migration
Affordability remains one of Nova Scotia’s greatest competitive advantages. With an average home price significantly below the national figure of $691,000, buyers in Nova Scotia enjoy greater purchasing power and stronger yields on investment.
To put this into perspective, Ontario’s average price sits at around $852,000, while British Columbia exceeds $950,000. For investors, the difference is transformative. The same capital that might purchase a one-bedroom apartment in Toronto or Vancouver can often secure a detached home, resort lodge, or small development plot in Nova Scotia.
This affordability is fuelling interprovincial migration. Families and professionals priced out of larger urban centres are increasingly relocating to Atlantic Canada, where they can maintain quality of life without compromising on opportunity. In 2023, Nova Scotia recorded its fastest population growth in modern history – an increase of 3.24%, equating to nearly 30,000 new residents in a single year. This momentum has continued into 2025, supported by steady employment gains and a growing student population.
For property investors, this migration creates durable demand across every segment: residential homes, rental accommodation, leisure property, and mixed-use commercial developments.
Infrastructure and economic diversification
What sets Nova Scotia apart from many smaller provinces is the scale and direction of its infrastructure investment. The provincial and federal governments have committed hundreds of millions of dollars to projects that strengthen accessibility, logistics, and sustainability – all of which feed directly into real estate performance.
Recent examples include a $583 million highway improvement programme, significant funding for renewable energy facilities, and one of Canada’s most ambitious digital connectivity projects. By 2026, Nova Scotia is expected to provide high-speed internet access to 99.99% of homes and businesses, a milestone that positions it as one of the most connected regions in North America.
These upgrades are not just improving infrastructure; they are reshaping the province’s economic identity. Nova Scotia’s economy, historically reliant on shipbuilding and marine industries, has diversified into technology, education, healthcare, and clean energy. Halifax, in particular, is attracting national and international firms drawn to its growing talent pool and lower operational costs.
This economic diversification supports a healthy labour market and creates confidence for investors seeking both rental and commercial tenants. It also underpins long-term value for residential and leisure developments – two sectors where Nova Scotia continues to outperform expectations.
Population growth as a property catalyst
Population growth is often the single most reliable driver of property appreciation, and Nova Scotia’s demographic trajectory is one of the strongest in Canada. The influx of new residents – including immigrants, students, and interprovincial movers – has intensified housing demand in ways few predicted five years ago.
The province’s universities, including Dalhousie, Saint Mary’s, and Acadia, attract international students who contribute significantly to rental markets. Meanwhile, government programmes encouraging immigration to Atlantic Canada have brought skilled workers and entrepreneurs who often choose to settle permanently.
As a result, both the rental and ownership markets are under consistent pressure. Vacancy rates remain low, particularly in Halifax and surrounding coastal communities. Developers are responding with new builds, but the pace of construction still lags behind demand. For investors, this imbalance represents opportunity – particularly for those entering early in the province’s growth cycle.
Retail and leisure resilience
Unlike several Canadian provinces where retail vacancies have increased, Nova Scotia’s commercial property sector has demonstrated surprising strength. Grocery-anchored centres, retail parks, and enclosed malls have some of the lowest vacancy rates in the country. Prime rents in Halifax range from $36 to $75 per square foot, reflecting robust tenant demand and consumer confidence.
This resilience is closely tied to tourism and leisure property. The province’s natural landscapes and coastal towns have experienced record domestic visitor numbers in recent years, driving investment in resorts, holiday parks, and golf destinations. These sectors are no longer separate from traditional real estate; they operate as complementary parts of the same economy, providing both local employment and year-round footfall for surrounding businesses.
For investors, this means that commercial and leisure assets in Nova Scotia offer strong income diversification. Properties that combine hospitality, retail, and tourism components are particularly attractive, as they deliver consistent returns across different market conditions.
Government policy and investor confidence
Investor sentiment in Nova Scotia is further supported by the province’s commitment to sustainable development and transparent governance. Planning and environmental regulations are designed to encourage responsible construction while maintaining market accessibility. This balanced approach provides stability for developers and reassurance for institutional and private investors alike.
The government has also continued to prioritise renewable energy and green infrastructure. With a target to source at least 12% of provincial energy consumption from renewable sources within the coming years, Nova Scotia is positioning itself at the forefront of Canada’s sustainability transition. For property developers and fund managers, this translates to long-term value creation through ESG-aligned projects – an increasingly important factor in global investment strategies.
The investor outlook
All indicators point towards continued strength in Nova Scotia’s property market over the coming years. Forecasts suggest that housing values could rise by between four and eight percent annually through 2026, outpacing most other Canadian provinces. Rental demand, fuelled by migration and economic expansion, is expected to remain exceptionally high.
For developers and investors alike, the appeal lies in Nova Scotia’s balance of stability and growth. It offers the affordability and entry-level access that allow smaller investors to participate, while maintaining the scale and maturity needed to attract institutional interest.
From large-scale resort projects to residential developments and retail-linked land investments, Nova Scotia’s property landscape now offers one of the most balanced risk–reward profiles in Canada. For those seeking diversification, reliable yields, and exposure to a thriving regional economy, it represents one of the most intelligent choices available in 2025.
To explore current opportunities in Nova Scotia’s property market, contact Primefield today.
