Mississauga, Ontario is a highly promising real estate market in Canada. It is a prime and sought-after location with prices that are slightly lower per square meter when compared to the City of Toronto.
This city also known as the Lost City is one of the fastest-growing places in Canada. It is filled with residential districts with lots of flora mixed with commercial neighborhoods. It has everything a standard city wants and needs.
As a real estate investor, is Mississauga a place you’re eyeing? Do you want to become a real estate investor in Mississauga?
If the answer to any of the above questions is yes, then this article is for you. Here’s a brief history of the real estate industry in this booming city.
The demand for real estate in Mississauga, Ontario, has been increasing steadily for several years now, and the reasons are not farfetched. In particular, the 905 area is well-suited for prospective residents looking for suburban areas with a touch of city vibes. In addition, this city comes with some of the latest infrastructure and developments, which improve its livability, leading to higher housing demands.
What kind of real estate properties are for sale in Mississauga?
One thing you can always count on is finding amazing homes for sale in Mississauga. This city offers several real estate investment opportunities prospects can’t get enough of.
Starting from new detached homes all for sale, down to Condos, Mississauga road houses, duplexes, commercial properties, and more.
If you are still at sea on whether you should invest in Mississauga real estate, all you have to do is search for properties for sale near me – you’ll be amazed at the number of options at your disposal.
The demand for real estate is so high that it’s not easy to satisfy the housing demand. For that reason, the city is concentrating on building high-density housing like low, medium, and high-rise condominiums.
You can also find reasonably priced rental housing (I.e., rental apartment buildings), supportive housing, and emergency shelters. So much so that nine years ago, Mississauga city approved a plan to permit basement apartments/second units within semi-detached, detached, and townhouse homes, as per zoning regulations, official plan policies, and licensing requirements.
Property information in Mississauga
Let’s give you some vital Mississauga property information. According to the Canadian real estate association (CREA);
- For the year 2022, we saw a not-so-surprising increase in the median price of detached homes for sale in Mississauga. The average house price in Mississauga for a single detached house increased by 10.9 percent yearly to CAD 1,500,000 in Q2 of this year.
- For semi-detached units, the median sale price increased by 14.6 percent on a year-over-year basis to CAD 1,100,000 in Q2 of 2022.
If you’re considering new houses for sale in Mississauga, you would have to cough out $1,044,766, the average home price in the lost city.
- For residents with higher tastes that would prefer real estate properties that are more slick and comfortable to match their easy-going lifestyle, you have to check condos for sale in Mississauga.
As luck would have it, rental and ownership options in this city offer better value when compared to Toronto. In particular, condos appeal to first-time and middle-income home buyers, and there are several projects in development, even as we speak.
In 2022, condos in Mississauga will be sold for an average price of CAD 870,000. When compared to its $262,200 price in December 2011 – an estimated 200 percent increase within a 10-year period. This is amazing news to real estate investors as they’ll get a good return for their money.
- Condominium townhouses weren’t left behind either. The average selling price for a single condominium townhouse unit rose by 15.7 percent on a year-over-year basis to CAD 870,000 in Q2 of 2022.
- On the other hand, the median selling price for a condominium apartment unit increased by 20.2 percent on a year-over-year basis to CAD 663,000 in Q2 of 2022.
There are several reasons we can attribute to the boom of the real estate industry in Mississauga, and a few we can highlight are the rising population, continuously growing infrastructure, high-security profile, political stability, and more. With this in mind, there’s no better way to get a bang for your buck than Mississauga.
