If you ever wonder why so many condos are always on the go in Toronto, wonder no more… Everyone just wants to move here.
In an analysis of the latest population growth estaminets released by Statistics Canada and the U.S. Census Bureau, researches Frank Clayton and Eva She of Ryerson University’s Centre for Urban Research show that Toronto is currently the fastest growing city (by population) in all of the United States and Canada – by a huge margin!
Toronto added Moore then 77,000 new residents in the year ending in July 2018, more than THREE times as many as the next municipality, Phoenix AZ.
Toronto also came in second in population growth in overall metro areas, being beat out only – by a slim margin – to Dallas-Fr. Worth.
With the population growing developers have their work cut out for them to keep up with the demand – not only with new condos, but also with the increasing demands of useful amenities and innovative space design.
This is great news for investors. As demand grows in the city both resale prices and rental prices are sure to keep going up!
Taking a step toward buying your first property can be a big step, and a second property an even bigger step – but if it’s been on your mind, it’s time to start taking it seriously!
We’re always happy to walk new clients through their investment options, so don’t hesitate to send us an email at firstname.lastname@example.org.