Square One Condo Market 2015 – Square One Condos Fast Becoming First Choice
The condo market at Square One, Mississauga, has not performed as well as the low rise residential real estate since 2012. On the other hand, since there is no land left in Mississauga for residential development, people looking for low rise residential options are inflating the prices of resale homes. This has been especially true for 2015. If someone has the money to invest in townhomes, semis and detached homes, they are willing to further pay a premium to acquire such a property. Property values have seen double-digit growth in recent years, and this adds to the confidence level of people wanting to invest in a home instead of a condo apartment.
However, this is does not ring true with first time buyers who may not have such deep pockets. Condos have become the obvious choice for first time buyers in Mississauga. By default, they get attracted towards condo apartments due to affordability and comforts of condo amenities.
As an experienced Broker since 2003, given the Square One Condo Market 2015 update, I feel that this is the best time to invest in condos at Square One, Mississauga as the gap between condos and low rise has grown exponentially. And then, there is also a significant difference between Toronto condos and Mississauga condos. Toronto condos are a lot pricier than Square One Condos in Mississauga. On an average one bedroom Downtown Toronto condo sells for approx. $100K more than a similar one bedroom condo in Downtown Mississauga. In fact, First time buyers who are priced out of Toronto condo market, are also flocking towards Mississauga condos, where they can still find affordable bigger condos, compared to Toronto. Many baby boomers are also returning back to high rise condo market after cashing out their expensive freehold homes in the area.
Rental Market at Square One
The rental condo market at Square One is on a wild fire. The rents have moved up since last year. These days it is hard to find a decent one bedroom condo for less than $1400 per month. For two bedrooms under 900 sq ft, one should be looking at $1700 in monthly rent. There is an acute shortage of rental units at this moment. A great time to invest in condos for rental market is my best advice. Square One condo prices are still very affordable. I expect condo market to perform very well in the coming year.