January 14, 2022
What To Expect in Real Estate for 2022, and Why You Should Still InvestRETURN TO BLOG
Executive Properties Capital
Considering investing in real estate this year?
Now is a good time to make a purchase in the Greater Toronto Area.
The competitive market is expected to continue into 2022, driving up home prices – and making it an excellent investment opportunity.
Last year alone the average selling price of a home in the Greater Toronto Area jumped by more than 17 per cent to $1,095,475, the Toronto Regional Real Estate Board reported.
Tight market conditions were experienced all across the board, from houses to condos, said Kevin Crigger, Toronto Regional Real Estate Board president in a news release.
“Despite continuing waves of COVID-19, demand for ownership housing sustained a record pace in 2021. Growth in many sectors of the economy supported job creation, especially in positions supporting above-average earnings,” Crigger said. “Added to this was the fact that borrowing costs remained extremely low. These factors supported not only a continuation in demand for ground-oriented homes, but also a resurgence in the condo segment as well.”
Growing population fuels demand
That demand is expected to continue throughout 2022, driven by population growth in the area, as the Greater Toronto Area is a primary destination for new immigrants.
According to the Ontario governments population projections, the province’s population is projected to increase by almost 5.3 million by 2046. Of the increase, the majority is expected to come from net migration, with a small portion coming from natural increase.
Due to the high demand and low supply, the Greater Toronto Area housing prices are expected to continue on their steady upward climb.
It’s an issue that needs to be addressed, said Crigger in a Toronto Regional Real Estate Board news release.
“Unless governments work together to cut red tape, streamline the approval processes, and incentivize mid-density housing ongoing housing affordability challenges will escalate.”
Why invest in real estate now?
With the rising prices and large increase in population that’s projected over the next few years, 2022 is a great time to purchase an investment property.
Don’t know where to start? We can help!
What do we do?
At Executive Properties Capital, we focus on getting investment properties that will produce an excellent Return on Investment over the next ten to 20 years. As a reliable partner, we can help you capitalize on high Return on Sales investments in as timely a manner as possible – leaving you to reap the benefits.
Even if you end up overpaying by one or two thousand dollars now, the profit down the road will be worth spending the extra money today.
Contact us today to get started
We would love to help you begin your real estate investment journey. Feel free to contact us through our website here: https://www.investwithepc.com/contact-us. Once you reach out to us, one of our customer relations specialists will be in touch shortly to go over the many opportunities that we have to offer.
We look forward to hearing from you!
Stay in touch.
Let's have a virtual coffee and discuss your real estate investment goals.