According to the latest data gathered by Statistics Canada, Canadians occupied more than 1.9 million condominiums in just 2016. Ownership and rental values have shot through the roof, especially in hotspots like Vancouver and downtown Toronto, and the resale market for condos has appreciated manifold.
The real estate boom and increasing preference for condominiums or condos in Canadian cities is something any smart investor would sit up and notice. So if there was ever a right time to invest in an under-construction condo in your favorite Canadian cities, it is now.
Recent estimates show that the Canadian love for condos is only growing and about 60,000 condos were sold in the Toronto market in just a year 2017-2018. According to experts like Benjamin Tal (Chief economist for CIBC world market) condos will continue to remain a Canadian favorite and retain its stronghold over the housing segment in the long term.
Buying a great condo is a combination of many factors, ranging from location, builder reputation, carrying costs, phantom costs, cooling periods and long term plans. Together they can play a major role in deciding the future value and appreciation of your real estate holding.
For the keen home buyer, the time to book the right condo in Canada is just now. With world-class cities like Toronto and Vancouver becoming the front runners in offering excellent condo accommodation, location is not a worry anymore. Apart from the view from your balcony home buyers also need to be sure they are trusting the right buyer with a spotless record while pursuing their dream of a home.
And if you need someone to help out with ensuring you are making no mistakes while choosing your dream home, come to us at TOmycity.com.
With our network of elite experts and builders, we help ensure every decision, every investment you make turns into an asset, both emotional and economic. Be it choosing a location, builder or anything else, we at TOmycity.com can steer the way to ensure all is fine and your home is built and delivered to you in the best way possible adding value to your life forever.