Toronto real estate is one of the fastest growing markets in North America, with more than half a million people currently flocking to the 7th largest city in Canada. The Toronto real estate industry, having grown by leaps and bounds for much of the past decade, is now taking a break. Things aren’t quiet, however. Toronto is one of the most modern cities in the world, boasting a skyline that’s more impressive than it has ever been before. It s absolutely beautiful.
However, Toronto isn’t just a beautiful city. Toronto is home to some of the most technologically advanced and business savvy populations in all of North America. These people have begun flocking to Toronto in increasing numbers, largely because the Toronto real estate market is one of the best in the country. And, with so much potential, Toronto’s housing market is poised to see an unprecedented surge in growth, well beyond what it had even just a few short years ago.
There are a number of reasons why Toronto’s real estate market is poised to see such growth. One of them is that the pricing of homes has fallen significantly since the height of the global recession. While there are still some pockets of home prices that remain competitive, the Toronto real estate market is now beginning to experience what many investors call a “buyer’s paradise”. That is, homes are simply priced too low, and Toronto’s population has yet to reach its peak. With so many people competing for the homes on the market, and so few properties available, the bidding wars are on.
Another reason why Toronto is experiencing such a surge in growth is the fact that Toronto has some of the most beautiful school systems in the entire country. In the east downtown area alone, you will find two of the most respected school districts in all of Canada. The trustee races at both of these schools have been hotly contested over the past several weeks, as some residents have felt the pressure from both parents and the teachers. With some parents upset at the thought of sending their children to these top schools, and others complaining about the lack of services that they receive, this has become a very divisive issue. On the other hand, many residents feel that the schools in the east downtown area offer the best quality for their money.
Another factor that is helping to drive Toronto’s real estate market into overdrive is the fact that Toronto is Canada’s largest city. With hundreds of millions of people flocking to Toronto and spending tens of thousands of dollars every single day, there are certainly going to be some exceptional bargains to be found. Indeed, if you are a home buyer with cash to spend, you are likely to be seeing the bidding wars heating up on homes in the Greater Toronto Area right now.
Another reason why Toronto’s housing market is heating up so quickly is the fact that Toronto’s condo market is also booming. In fact, condominium sales in Toronto have actually increased by four percent over the last twelve months alone. The boom in condominium sales has helped Toronto’s real estate market to rebound from a recent recessionary slowdown. Condos are often a much more secure investment than many Toronto residential options, especially when it comes to investing in older properties. In addition to Toronto’s vibrant real estate markets, the city of Toronto has also recently taken measures to help stimulate the economy in the wake of a pandemic. Although many other areas across Canada have been hit by a rapidly slowing economy, Toronto’s housing market is still expected to experience strong growth in the coming years.