New & Pre Construction Condos In Markham
Markham City, the largest of the nine municipalities that make up the York region, is located on the North East side of Toronto. It’s considered the Silicon Valley of the North and Canada’s high-tech capital. This is because there are many technological and life science companies in the city, and they continue to increase by the year. Developers and homeowners are looking to capitalize on its growing economy, and as an investor, you shouldn’t be left behind. The real estate market is booming, and there are numerous new and pre-construction condos one can invest in. Let’s take a look at Markham, the city of the future, and why you should be part of its future as an investor.
Why Should You Invest in Markham Real Estate?
Economy
The city’s surging economy is the main reason why developers and homeowners are rushing to develop in it and why you should invest now. Markham is home to the best high-tech and life science companies in the country, including pharmaceutical, robotics, communication, research and development, electronic, and healthcare companies. Over 1,000 of the companies in this city are Fortune 500 businesses. Companies such as AMD, Toshiba, Apple, Huawei, and IBM, which are technology leaders, have a major presence in the city and offer many job opportunities. The presence of high-tech companies, and their continued increase, contributes greatly to the city’s strong and constantly growing economy. Invest and benefit from its thriving economy.
Shopping
Markham has several popular shopping spots that offer residents an exceptional and all-inclusive shopping experience. CF Markville, owned by Cadillac Fairview, is the largest shopping centre in the city, with over 175 top retailers, restaurants, cafes, and services. Some of the biggest shops in this mall include Walmart, Marshall’s, Best Buy, Sporting life, and Winners.
Other major shopping malls in Markham include Pacific Mall, the largest indoor Asian mall, First Markham Place, and Langham Square. These malls offer condo residents access to everyday necessities, including a wide selection of stores, services, and restaurants.
Education
Markham has a vast number of highly-regarded schools providing top-quality education for the residents. It’s home to more than 40 public elementary schools, 15 private schools, 10 public high schools, and many top colleges and campuses. Some post-secondary institutions include Seneca College, Evergreen College Campus, and Canadian Business Skills College of Technology. York University has invested over $250 million for a new campus in this city, and it will be completed soon. With such top-tier facilities and a high number of students looking for exquisite housing, Markham is an excellent city to make your investment.
Amenities
Markham is a city with everything a condo resident needs to lead an exciting life. There are many entertainment and relaxation places, including parks, green spaces, and movie theatres. Some great spots to relax and have fun include Angus Glen Golf Club, Toogood Pond Park, Bushwood Golf Club, Hilton Toronto, Toronto Zoo, and Upper Unionville Golf club. These areas are accessible from most new and pre-construction condos in Markham.
Top restaurants serving exquisite cuisines, including Milestones Grill and Bar, Peter’s Fine Dining, and Inspire Restaurant give residents an amazing food experience.
Other amenities in Markham include extensive transit systems and government services. The ease of access to everyday necessities makes Markham one of the best cities to invest in, as condo renters and buyers are attracted to areas that make their lives easy and exciting. Contact our investment experts to make your investment in Markham’s new and pre-construction condo developments.Â
Average Condo Price for Markham in 2021
Markham’s real estate market is growing rapidly, and the prices are steadily rising. As of 2020, the overall real estate prices increased by 17.7%. In residential real estate, the average cost of a pre-construction condo is approximately $460,000. The exact price of specific pre-construction condo developments in Markham varies depending on the developer, location and the size of the suite.
On the other hand, rental prices average at $2,400, and resale prices at $918,000. These prices continue to rise as the city grows.
Investing early in pre-construction condos is the right move as your capital will begin to appreciate early. Get in touch with our real estate investment experts, and they’ll help you select the right development to make your investment.
About Markham
Markham is the largest city in the York region and the seventh-largest in Ontario. It’s located 30 minutes North East of Downtown Toronto, which makes it an excellent location to reside in if you work in Toronto. It comprises six communities, including Unionville, Berczy Village, Markham Village, Cornell, and Thornhill. The city thrives from high-tech companies and businesses that create huge employment opportunities for the residents.
With an estimated population of 351,552, Markham is the fourth most populous city in the GTA. It’s projected to have a population of approximately 535,000 by 2041. A Canadian-Asian community dominates the city, but other communities from around the world are also present, creating one of the most culturally diverse cities in Canada.
The continuous economic growth and population increase create a good platform for real estate growth. This is why many developers are looking to build unique residential and commercial towers in the city. For investors and future homeowners, now is the perfect time to invest in new and pre-construction condos before the prices skyrocket.
Markham has extensive amenities that can be easily accessed from most pre-construction developments. Some of these amenities include schools, health facilities, shopping centres, parks, green spaces, and more. The amenities are many, and the residents can choose between different products and services as per their specific needs.
Invest in this amazing city by contacting our real estate investment experts.
Accessibility / Getting Around Markham
Markham is one of the most accessible cities in the GTA. Major throughways pass through the city, including Express Toll Route that runs through the entire Markham to intersect with Hwy 404 on the west end of the city.
Hwy 404 borders the city on the left and intersects with Hwy 401. From Markham, through Hwy 404, one can access downtown Toronto in just 30 minutes. Hwy 48 is also accessible from Markham, and it connects the residents to the northern neighbourhoods of the GTA. Hwy 7, which is close to many new and pre-construction condos, runs parallel to Hwy 407, providing the area with convenient transit.
Go train and bus stations are also available throughout the city, and they provide easy transit for the residents. The York Region Transit (YRT), which connects the city to the rest of the York neighbourhoods, is available for Markham condo residents.
Viva transit, one of the most extensive and comfortable transit systems in the GTA, connects Markham to the rest of the York Region. It also connects the residents to the TTC and the Toronto Subway System.
With such a wide selection of transit systems, Markham is a wonderful city for families, students, and employees to live in as it’s accessible and easily connects to the rest of the GTA. As real estate continues to grow, the region remains family-friendly and a great neighbourhood to invest in. Contact our investment experts to learn more about Markham and its new and pre-construction condo developments.
FAQs
Which area in Markham should I invest in pre-construction condos?
Markham real estate is booming, and condominiums consist of more than 41% of the current residential real estate market. As an investor looking to capitalize on this growth, finding the best areas to invest in is key. Currently, the hottest spots in Markham are Unionville, Greensborough, Langstaff, and Milliken. To learn more about each area and its current condo developments, contact our real estate investment experts.
What is interim occupancy?
According to the Condominium Act, a buyer can sometimes move into their suite before construction is complete. It’s good to note that you still don’t own the unit during this period since it hasn’t been transferred to you, which can only be done upon completion of the development. This period between when you move into the unit to when the condo ownership is transferred to you is referred to as interim occupancy.
How do I benefit by investing in pre-construction condominiums?
Pre-construction condominiums are one of the greatest investments in real estate because of the benefits they present to investors.
The first benefit is a well-structured payment plan. When purchasing a pre-construction condominium, you only pay a 3 to 5% deposit of the purchase price. What makes this exciting for investors is that you don’t pay all the deposit at once. It is payable in small bits until the completion of the development, which mostly takes 3 to 5 years.
Another benefit is that you earn capital appreciation from the day you sign your condo agreement and make your first deposit payment. Whether the property takes three or more years to complete, you’ll benefit from property appreciation during this time.
The mortgage is only payable after the development is complete, which gives you time to look for money or a tenant. With a tenant, you earn a monthly income that you can use to pay your mortgage.
These are just a few benefits of investing in pre-construction condos. Contact us to learn more.
