Hi There,
I hope you are doing well.
If you don’t know what is going on with the Toronto real estate market, it is time I should fill you in.
To simply put it…
The Toronto real estate market is on fire.
Thus far in 2016, Toronto has experienced significant demand for detached homes. At the same time there has been a lack of inventory available.
As such this has caused a supply and demand issue, in that there are so few listings available for sale, the demand for these homes is driving prices up at record levels.
If you are from the Greater Toronto Area, or have knowledge of the real estate market there, this is NOT new news for you.
Whether you are from the Greater Toronto Area or not, this could be a great opportunity for you.
Many experts are forecasting that the supply and demand issue in Toronto is going to last for year to come.
The reason for this is because, there are approximately 100,000 new people coming to live in the Greater Toronto Area each year (according to some sources).
Forecasts indicate that the Toronto real estate market is becoming an International real estate market, similar to New York, London, and Hong Kong.
Further to that, experts forecast that over the next 25 years, 4 million new people will be coming to live in the Greater Toronto Area and surrounding areas.
As this unfolds, the cost of detaches homes will continue to sky rocket. (increase )
This is where there is opportunity for you if you are looking to invest in real estate.
Condos, especially condos in Toronto, are going to be the property type that people gravitate towards.
Condos will be the only property type that most people will be able to afford. (Some think Toronto’s Middle Class is about to be priced out of the condo market.)
In addition, with the increase of prices, condos will increasingly become a property type that people will be looking to rent.
As a real estate investor, you should be looking to buy Toronto Condos.
I am going to go into more detail in my next blog post.
For now, it is important to remember this:
If you are looking to buy your first rental property, or if you are an experienced real estate investor looking to buy your 5th rental property, there is tremendous opportunity in buying Toronto real estate, in particular, condos in Toronto.
Happy Investing!
-Neil
