New Condos Etobicoke
Etobicoke is one of the former cities that were integrated to form the city of Toronto. It’s a perfect location for individuals looking to live a quiet, relaxed life away from the busier parts of Toronto. Until recently, when significant revitalization of this region begun, most residential parts of Etobicoke consisted of detached single-family homes. The region is now undergoing massive development from top developers. One of the most active developers in this area is Tridel, who focuses on delivering unique condos.
Since most of the developments are new or in pre-construction stages, investors have an opportunity to purchase condos when the prices are still low. Let’s take a look at Etobicoke and why it’s an excellent location to make your condo investment.
Why Should You Invest in Etobicoke Real Estate?
Etobicoke is one of the most industrious regions of Toronto. Its most dominant businesses include the manufacture, distribution, and retail of pharmaceuticals, electronics, chemicals, equipment, and automotive parts. This means that the region has high employment opportunities, and the economy continues to grow year-over-year.
The continuous industrial and overall economic growth in this region creates a demand for more and better housing. This means that investing in new or pre-construction development in Etobicoke is an excellent idea as tenants and homebuyers will be readily available.
As a condo resident in Etobicoke, entertainment and relaxation spots will be a short walk or drive away. For the movie lovers, you can catch the latest blockbusters in one of the major movie theatres in this region, including the Cineplex Odeon Queensway theatre.
Etobicoke is also home to fantastic amusement parks, which provide a perfect day out for families and individuals looking to have fun or escape from their busy schedules. Some of the best parks in Etobicoke include Centennial Park, James Gardens, Colonel Samuel Smith Park, and Humber Bay Park.
For more entertainment in Etobicoke, the 401 Mini Indy is a perfect spot for having fun. It has indoor tracks where you can have some races with your friends, colleagues, or family. Paintball City is also within the vicinity of many developments in Etobicoke.
Real Estate Growth
The Etobicoke real estate market is one of the most stable and constantly rising markets in Toronto. There are lots of new and pre-construction developments in this area, and investors are always on the lookout to acquire the best in the market. Most of the condo developments are along Highway 427, making their way up to the Humber River. There are also construction plans by several developers to develop mixed-use communities and residential towers along the Bloor West Corridor.
In other words, the future of Etobicoke’s real estate is auspicious. Therefore, as an investor, you should invest in pre-construction and new condominiums in Etobicoke and profit from the region’s continuous growth.
Etobicoke has many amenities that fulfil the resident’s everyday necessities. There are restaurants, cafes, and many eatery places where residents will enjoy unique cuisines and beverages. Shopping centres, with a vast number of popular retailers and restaurants, are a short walk or drive from most development sites. Some of the shopping centres in this region include The Kipling Queensway Mall, which has 23 branded retailers, and the Sherway Gardens.
Educational institutions providing quality education are also nearby, including secondary and post-secondary institutions. Some of them include The Father Henry Carr High School, St. Joseph High School, Etobicoke School of Arts, and Humber College.
Other amenities, including government agencies, healthcare facilities and more, are also easy to access in Etobicoke.
Average Condo Price for Etobicoke in 2021
Condo prices in Etobicoke have been on a constant rise due to the rapidly growing real estate market. In 2021, the prices for new and pre-construction condos are expected to be around $450,000, on average. On the other hand, rental prices will be approximately $2,400 on average, and resale prices will be $796,825.
Keep in mind that condo prices vary as per floor plans, location, developer and other factors. However, pre-construction condo prices are always on the lower side compared to resale condos. Therefore, grab a pre-construction condo today and benefit from investment appreciation over the years.
Etobicoke is located in the western part of The City of Toronto. Lake Ontario borders it on the South, Mississauga and Etobicoke Creek on the West, Humber River on the East, and Steeles Avenue on the Northside. Etobicoke has a population of approximately 360,000. Its population is diverse, which provides residents with a taste of different cuisines and festivities from different cultures. The region has a suburban feel, making it perfect for individuals looking to live a relaxed lifestyle in Toronto.
This area thrives on corporate, manufacturing, and distribution businesses, which make up almost half of the region’s trades. It has an average unemployment rate of 6%, making it perfect for developers and investors who target working residents as potential occupants of their condos.
Etobicoke has vast open lands, which hold lots of potential in the region’s development. Developers are revitalizing this region through the construction of unique residential towers and mixed-use communities. Its growth in residential real estate has attracted many investors to invest in its promising future. Don’t let the opportunity to own a condo flyby. Contact our real estate investment experts and learn about all the new and pre-construction condos in Etobicoke.
Getting Around Etobicoke
Etobicoke is a huge district, but accessing it has been made easier through the availability of many transit options. Public transport systems, including Go trains and busses, Subway, and TTC buses, enable residents to get around Etobicoke and connect to other parts of the city.
Major GTA throughways make their way through different parts of Etobicoke, making it a central transportation hub. Some of the throughways routed through Etobicoke include the 27, 427, QEW, 407, and the 402. The ease of access to major highways enables residents to travel across the GTA with minimal delays.
A new LRT line is being constructed in the North region of Etobicoke. The line will connect with the Yonge-University-Spadina subway line, which improves the accessibility of Etobicoke.
As a resident of Etobicoke, commuting or driving to work, school, shopping, or to run errands within or outside this region will be easy. There are many transportation options, making it an excellent location to invest in a pre-construction condo. Get in touch with our investment experts and have a look at the best condo developments in Etobicoke.
Why should I buy a pre-construction condo in Etobicoke?
Investing in condo real estate requires a lot of pre-acquisition research, including research into the current state and future projections of a potential investment location. Etobicoke is currently undergoing massive residential real estate development by top developers, and the future holds plans to keep developing the region. This makes it a perfect area to invest in because it will grow, appreciating your investment. Take the opportunity to invest in pre-construction condos in Etobicoke today.
How do I profit from a condo investment?
Condo investment is a safe and long-term way of making a profit. When you invest in a pre-construction condo, you are securing an income in your future, maybe 3 to 5 years from now. When the development is complete, you can rent the unit and get a monthly rental income. The rent helps you cover your mortgage. You can also sell your condo after closing to benefit from the property’s appreciation.
Which pre-construction condo do I invest in?
Selecting the perfect condo development to make your investment is a delicate process that may require enlisting the services of real estate investment experts. The right pre-construction condo is determined by the developer, location, budget, intended use, and many other factors that should be thoroughly looked into before making your investment. Contact us, and we will help you choose the best pre-construction condo in Etobicoke.
How long should I wait before selling my condo?
As an investor, you can choose a short-term or long-term condo investment strategy. In a short-term strategy, you sell your condo immediately or a short while after the final closing. In a long-term strategy, you hold on to your condo for a few years before selling it. Before deciding to sell your condo, you can rent it out to generate a positive cash flow. Long-term investments usually generate more profits as the property increases in value over time.