In a previous post I indicated the Toronto real estate market would be a hot one in 2021, but to be honest, I never expected it to be like this. It’s bananas!
Why is the market so crazy hot with multiple offers everywhere? Here are 4 reasons:
- Low Interest Rate. Interest rates are the lowest in history. It’s cheap to borrow money from the bank and appreciation of your real estate will be higher than interest rate right now.
- Inflation. The world keep printing money and the value of the dollar keeps depreciating. Real estate is a tangible asset.
- Immigration. Although on a pause right now, 1.2 million skilled new immigrants will make Canada their home in the next 3 years. Large portion of them will settle in the GTA.
- Supply and Demand. We have Very little supply and demand is high which drives the market to a Seller’s Market and prices of-course keep going up.
So where do you invest? Well, allow me to plugin that I have a list of top projects launching soon in early to mid 2021 — all are great investments. Please reach out to me, let’s discuss your goals and how I can help your portfolio grow.
Looking forward to earning your business.