SVS Real Estate
2977 Lakeshore Blvd. W. Suite I M8V 1J8 Toronto, ON, Canada

How did COVID-19 affect the condo market? I'll tell you - the areas you see in dark red are Downtown Waterfront, Yonge & Eglinton, North York (Yonge & Sheppard area), and Scarborough Town Centre. These are all areas that saw rapid growth in development as well as a far higher price per square foot than any other neighbourhood in the city (think small space, and lots of money). These were also concentrations of high Air BnB units and foreign investment. With new regulations fo...r short term rental, lack of evictions, job layoffs, unaffordability issues, etc, these areas saw the most significant price drop. Transaction: This means big opportunity for you! When the prices start to stabilize again and buyer confidence is renewed, prices will most likely go up the fastest in these areas as they are close to many desirable amenities. If living downtown was something you had in mind, there's never been a better opportunity to finally realize that goal! #torontorealtor #torontorealestate #torontocondo #remax #remaxrealtor #svs #svsrealestate #firsttimehomebuyer #buying #selling #buyandsell

FEBRUARY MARKET UPDATE Still sitting in a low inventory market. TREB reports an increase in value of 3% from last month alone, with prices having climbed 16% over last year. Market conditions continue to tighten - mortgage stress test has been relaxed allowing for more borrowing power for purchases and with the Bank of Canada cutting its key interest rate mortgages may follow suit. This means buyers can buy more house for less money. This also means that more buyers are jumping into the market with a renewed sense of confidence. But this also means until supply starts to catch up with demand, prices will continue to climb quickly.

Want to capitalize on the GTA's crazy market but don't know where to start? Pre-construction condos in densifying suburban neighbourhoods (Square One is a hot one to look out for) are the perfect vessel in which to begin. Almost like a forced savings account, extended deposit structures allow for a slower pace of deposits and with closings sometimes 2-3 years away you can earn a healthy return on a small investment. Units in Mississauga's City Centre are currently available in the $500's including parking and locker - a fraction of Toronto's current pre-constructions! PM me for more info on some of these projects!

Your January Market Update - https://mailchi.mp/d175ba3c48a8/your-january-market-update