The condominium apartment market has experienced strong growth in 2021 and this continued in the third quarter. That is why we would like to talk about Condo Market Report in this post.
Is it a good time to buy a condo in Toronto in 2021? When it comes to investing in Toronto real estate, the condo market is where the biggest gains are. With Toronto’s average 10-year historical growth rate of 5% a year and the most recent years averaging over 10% a year, investing in the Toronto condo market in 2021 means you’ll get in at today’s rates.
Additionally, there is another way to invest in Condo and Condo Townhouses in Toronto. Some investors invest their money in pre-construction properties. It means they paid on a plan. A pre-construction home is a house you buy before it is constructed. You have your choice of homes, including High-rise condos. Low-rise condos. In addition, when you buy a pre-construction property, you can pay more for the upgrade based on your interests. For example, you can choose the countertop and cabinets, etc. That is the way, that you can buy real estate at a cheaper price.
In the next step, some property owners decide to sell their property on an assignment, which means the builder is starting the construction and a few months later the property will be ready for occupancy. In that case, they say sale on assignment.
This is a simple Condo Market Report. Real Estate is our job, and we are here to help you to have a win-win transaction. So, please reply if you need our help! We have assignment sales for you to be a new homeowner!
BABAK MEHRABI, Real Estate Salesperson