Photo: credit to the owner
Are Financial District Condos a Good Investment?
Toronto’s Financial District is considered to be the heart of Canada’s finance industry. It’s where you can find all the major banks and corporate headquarters for some of the largest companies in the world. The area is also densely populated and has many large office towers and high-end condo buildings. The Financial District condos offer proximity and convenience especially for professionals working in the area.
Despite the recent decrease in prices overall for Toronto and GTA real estate markets, the competitive prices for condo units is still up because of high demand. For example, the condos in downtown area continue to show significant increase in appreciation despite the rules that have come into effect to slow the market. Of course, that can only be expected from what these condo units have to offer, exceptional elegance, low-maintenance living along with many attractive amenities.
Investing in Financial District Condos
When looking for an investment property, it’s important to take note of the following factors. First, consider units in areas where there is minimal vacancy rates (time between tenants) as well as minimal tenancy acquisition costs (how much you can expect to pay to find a new tenant). Second, purchase a unit where the appreciation rate is. It is also important to purchase a unit where the appreciation rate is good to maximize profit once the unit is sold.
Potential investors definitely should consider the Financial District condos when looking for a perfect investment property. The non-stop demand for high-end living space is a good indicator that your unit can be easily leased once it becomes available. One you decide to sell, expect a quick sale on the property as well as high return on your investment.
How Can a Real Estate Agent Help You Purchase a Financial District Condo?
The high demand for condo units means that a purchaser needs to be quick when a unit becomes available. Real estate agents from top brands like Century 21 have quick access to listings as soon as they become available. This is much faster compared to the release of listings to the general public. Being quick on finding listings can provide a valuable edge in a competitive market. The knowledge, access and expertise that an experienced real estate can provide throughout the entire process will put you in a position to identify a great investment property and move quickly to secure the purchase.
Sushma Khinvasara is a highly accomplished real estate agent and a consistent top performer for Century 21 Canada. She specializes in helping clients successfully navigate the ins and outs of the fast-paced GTA real estate market whether it is a first-time home or an investment property. Contact Sushma to begin your search for a Financial District condo today.