Is now a good time to buy a house in Toronto?—Demographic growth
In his book “The Real Estate Cycle”, Ren Zeping (a post-doctoral fellow at Tsinghua University’s School of Economics and Management) states, “In the real estate market, look at population in the long term, land in the medium term, and finance in the short term.”
In the last issue we analyzed the market from the financial and monetary point of view and saw that the monetary over-issuance rate in Canada is much higher than the depreciation rate of housing, so the value of housing will only rise and not fall. In this issue, we will analyze whether now is a good time to buy a house in Ontario from the demographic perspective. And in the next issue, we will analyze this issue from the land perspective.
Click to know more: Is now a good time to purchase real estate in Toronto? Canada’s demographic growth over the next 50 years
Is now a good time to buy a house in Toronto?—Impact of an aging population
Furthermore, according to Statistics Canada, the proportion of Canadians aged 65 and older will grow rapidly over the next 20 years, primarily because the baby boomer generation (those born between 1947 and 1966) will gradually reach the age of 65. The aging of the population is an inevitable part of Canada’s future development, accompanied by a declining workforce and reduced social benefits.
Click to know more: Is now a good time to purchase real estate in Toronto? The impact of an aging population
Is now a good time to buy a house in Toronto?—A lifestyle plan
According to statistics, although Canadian housing prices have been rising exponentially in recent years, the majority of people (81% of long-term property owners, 77% of short-term property owners, and 63% of renters) still believe that buying a home is very necessary and that house prices will not drop in Canada. Looking at all renters, 92% have a strong desire or plan to buy a home, and about 60% have a clear plan to accomplish the goal of buying a home within five years.
Click to know more: Is now a good time to purchase real estate in Toronto? A lifestyle plan
Three most popular condos Toronto:
Lawrence Hill Urban Towns (https://condotrend.com/lawrence-hill-urban-towns/)
Lawrence Hill Urban Towns is a townhouse development by Kingdom Developments, located in the Parkwoods-Donalda neighborhood, backing onto the Don River Valley. Lawrence Hill Urban Towns is surrounded by a number of higher education institutions. Seneca College, the University of Toronto Scarborough, York University, and Glendon College are all just 15 minutes away. In terms of employment, Lawrence Hill Urban Towns is close to the Jeanne-Lajoie North York Job Centre, Scarborough Job Centre, Central Don Mills and Don Mills Crossing, making it a popular place to live for white collar workers in the neighborhood. Surrounded by Parkway Mall, Metro, LCBO and hundreds of large stores, all your shopping needs can be met. The 222-unit development starts at $800,000 CAD per unit, with options ranging from 780 square feet to 1,140 square feet.
33 Yorkville condos
33 Yorkville condos are premium luxury downtown Toronto condos located in the Yorkville neighborhood. 33 Yorkville condos offers the best education, health care, shopping and living experience in Toronto and Canada. 33 Yorkville condos has a near-perfect walking score of 98/100, you don’t have to worry about the traffic in downtown Toronto, you have easy access to public transportation to get you where you want to go. With the Bloor-Yonge subway station just a two-minute walk away, you’ll be spoilt for choice. 33 Yorkville condos is surrounded by a wealth of entertainment and cultural venues, including the Royal Ontario Museum, the Casa Romano Castle and the Phoenix Concert Hall, so living here is like living in a sea of art.
M2M condos
Located at Cummer Ave and Yonge St, M2M condos is one of the landmark buildings being built in Toronto in 2022. The 810-unit condominium development was created by renowned developer Aoyuan International. M2M condos boasts an excellent transit score, with residents having access to a TTC bus route just steps from the lobby’s front door. Access to nearby major arterials, including Highways 401, 404 and 407, is easy by car. Downtown Toronto is less than a half hour drive away. M2M condos is a bustling, vibrant community with a great walking score. A wide variety of lifestyle amenities are within walking distance, including some of Toronto’s best dining, shopping and entertainment on Yonge St. The area is being heavily developed and the demand for properties is very high, making it a great investment opportunity.