Saskatchewan is experiencing a surge in construction and housing development, leading the nation in building investment growth. The latest Statistics Canada data reveals a remarkable 27.2% increase in building construction investment in January 2025 compared to the previous year. Additionally, housing starts have soared by 115.7% from February 2024 to February 2025, positioning Saskatchewan as a key player in Canada’s real estate and infrastructure expansion.
A Booming Construction Sector
The significant rise in construction investment reflects the province’s robust economic growth. Trade and Export Development Minister Warren Kaeding emphasized the positive impact of this trend:
“These numbers translate into more jobs, investment, and new projects throughout our communities, bringing added opportunities for everyone who calls Saskatchewan home.”
In February 2025, the housing market saw substantial gains:
- Single-family dwellings: Increased by 80.8%
- Multiple-unit developments: Jumped by 127.6%
- Urban housing starts: Up by 51.5% in the first two months of 2025 compared to the same period in 2024
These figures place Saskatchewan second among Canadian provinces for year-over-year housing growth.
Economic Growth and Investment Potential
Saskatchewan’s economic expansion is further highlighted by Statistics Canada’s GDP report. In 2023, the province’s real GDP reached a record $77.9 billion, reflecting a 2.3% increase from 2022, surpassing the national average growth rate of 1.6%.
Private capital investment has also been a major contributor to this boom:
- $14.7 billion invested in 2024 (17.3% increase)
- Projected $16.2 billion investment in 2025 (10.1% increase)
This steady growth underscores Saskatchewan’s appeal as an investment destination, ranking first among provinces for private capital investment.
Government Strategies Fueling Growth
To sustain this economic momentum, the government of Saskatchewan has introduced the Securing the Next Decade of Growth strategy, which is Saskatchewan’s Investment Attraction Strategy. With its strong construction sector, increasing housing starts, and strategic investment policies, Saskatchewan continues to shape itself as a prime location for growth and prosperity.
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