Tuesday 27 January 2015

The next hot neighbourhood in Toronto?

With Toronto condo rentals up by 17 per cent in the fourth quarter of 2014, investors are cashing in on a strong market and solid demand for properties in ideal locations.

But where’s the best area to get the biggest bang for your buck? Look no further than Regent Park, says one agent.
“I really like the area. I tell investors all the time that they’ll see returns if they invest there because the prices are low and the redevelopment that’s going on there is promising. There’s an aquatic centre, parks and, as the area continues to develop, more people could end up there [driving prices up].”

While other areas close to the downtown core, such as King West and St. Lawrence Market, may yield a condo for upwards of $450,000, the Regent Park area has condos selling for as low as $380,000.

This is because the area is still under construction, as development projects continue and the area grows. 

A real estate broker and consultant in Toronto, said more than $3 billion in development projects in the Regent Park area and the Canary District make the area a charming proposition for investors.

“It was almost forgotten land a couple of years ago,  

"It’s changing the whole area and making it more attractive for consumers to consider the opportunities.” 

Adnan Hashmi Realtor from Mississauga

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