Over the past few posts, I have used facts and the testimonials of Canada's leading economists to show why the real estate and condo market slowdown does not currently look like the meltdown that occured in the US. I have also tried to show how Toronto in particular looks to remain a great market for property investment.
Here are a few more facts about why Toronto, even in a slowdown, could only get better as a real estate market:
- Huge population growth, 100,000 new persons per year
- 2.8% for a fixed-rate mortgage remains a historic low
- There is such a great selection of world-class quality developments
- High-quality downtown office employment keeps expanding
- Inflation is low
- Real estate prices remain low on a world basis
- Government spending is well-managed
- The economy keeps expanding at a moderate pace
It is no wonder that Toronto is still a safe haven, one of the few, for international investors. And thanks to the slowdown, and the delay in price increases that comes with it, the wealth creation opportunities could only be greater in the long term.
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