Brampton Real Estate Market Performance in 2024

Over the past years, Brampton has grown as a center for economic growth and evolved as the best place for immigrants across Canada. With a culturally tolerant and accepting community, real estate has thrived in the city and will continue to grow in 2024, offering newcomers more diverse housing options. the city has a range of flats, rentals, studios, condos, and more in a neighborhood that best suits anyone’s needs. Brampton is the ninth-largest municipality in Canada and has come a long way from simply being a small town today. With the soaring inflation and increased interest rates at an all-time high, Brampton maintained its market position in 2023 with much less market activity than in 2022. There has been a dip in sales across the Brampton housing market in 2023 by over 50% compared to 2022.

According to statistics released by the Toronto Regional Real Estate Board (TRREB), both sales and average prices climbed each month in Brampton between January and May after bottoming out in December with an average sale price for all dwelling types combined of $981,920 across just 268 transactions.

Through the first five months of 2023, Brampton’s combined average real estate price had climbed 13.1 percent to $1,111,067 for May, with monthly sales increasing 176.9 percent to 742 transactions over that time.

The demand for ownership housing is stronger than last year, despite higher borrowing costs. With this said, home sales were hampered last month by uncertainty surrounding the Bank of Canada’s outlook on inflation and interest rates, pushing many would-be buyers to wait on the sidelines until purchasing makes more financial sense.

For those who are in a position to make a home purchase now, there are noticeably more homes to choose from compared to last year. Inventory levels saw another nice boost in November, with 10,545 new listings coming on the market, bringing the number of active listings up to 16,759 — a 40.7% increase from November 2022.

 

Renting in Brampton

Because of the preferred city by many immigrants for its growing suburbs, Brampton real estate is a comparatively more expensive market to rent. Brampton cracked the top 10 of the most expensive cities to rent coming in at No. 9, and had the single largest increase in rental rates compared to the same time last year.

Other, more expensive Ontario cities in the top 10 include Etobicoke with an average one-bedroom monthly rental coming in at $2,238, North York at $2,249, and Mississauga at No. 4 on the list at $2,364 for a one-bedroom and $2,832 for a two-bedroom rental.

Across Canada the average asking rents for purpose-built and condominium apartments rose above $2,000 for the first time in July, reaching $2,008 last month.

Boost Property Value, Top Five Home Improvement Trends In Real Estate Market

Looking to enhance your property’s value? Investing in strategic home improvements can be the key to increasing your home’s worth significantly. In this blog post, we’ll explore the top home improvements that can add value to your property, ensuring you reap the rewards in the long run. At Team Arora, with our extensive experience in the real estate market, we can provide you with even more valuable insights on maximizing your property’s potential.

Top 5 Key Points

  • Curb Appeal Upgrades
  • Modern Kitchen Overhaul
  • Luxurious Bathroom Remodeling
  • Energy-Efficient Solutions
  • Smart Home Technology Integration

Curb Appeal Upgrades

Curb appeal is the first thing potential buyers notice about your home. Making a positive first impression can significantly impact their perception of your property’s value. Start with simple yet effective upgrades like freshening up your landscaping, planting colorful flowers, and adding new exterior lighting. Repaint your front door and trim for a quick refresh, and consider installing a stylish and secure front gate or fence to boost your home‘s overall appeal.

Modern Kitchen Overhaul

The kitchen is often considered the heart of a home and a significant factor for potential buyers. An outdated or dull kitchen can be a major turnoff, while a modern and functional space can impress and elevate your property’s value. Consider investing in new energy-efficient appliances, granite or quartz countertops, and stylish cabinetry. Open concept designs are also popular as they create a sense of spaciousness and enhance the flow of the home.

Luxurious Bathroom Remodeling

Buyers seek bathrooms that offer both comfort and luxury. Transform your bathrooms into spa-like retreats by upgrading fixtures, installing rainfall showerheads, and adding elegant freestanding bathtubs. Incorporate quality materials like marble or mosaic tiles to add a touch of opulence. Proper lighting and ample storage space are essential elements that contribute to a higher perceived value of the property.

Energy-Efficient Solutions In Real Estate Market

Sustainable and energy-efficient homes are gaining popularity among buyers. Not only do these upgrades help the environment, but they can also significantly reduce utility costs, making your property more attractive to potential buyers. Consider investing in energy-efficient windows, LED lighting, and a smart thermostat. Adding solar panels is another excellent way to increase your home’s value and appeal to eco-conscious buyers.

Smart Home Technology Integration

Welcome to the future of living! Smart home technology can add a touch of modernity and convenience to your property. From voice-controlled virtual assistants to automated security systems, integrating smart technology enhances your home’s appeal and sets it apart from the competition. Buyers appreciate the added safety, energy efficiency, and convenience that smart home features provide.

Investing in the right home improvements can have a substantial impact on your property’s value and marketability. Whether it’s enhancing curb appeal, upgrading the kitchen and bathrooms, embracing energy-efficient solutions, or integrating smart home technology, these improvements can set your property apart from others and attract more potential buyers. Team Arora’s expertise in the real estate market ensures you have access to the most effective strategies to maximize your property’s potential. Start renovating today, and let your property’s value soar to new heights. Contact Team Arora for even more interesting information on how to make the most out of your investment. With our long-term experience, we can guide you towards the best decisions to ensure a successful and profitable real estate venture.

5 Best Cities to Invest in Ontario and Maximize Your Returns

Are you considering investing in the vibrant province of Ontario, Canada? Look no further!

Ontario offers a multitude of opportunities for real estate investors, with several cities standing out as prime locations for lucrative investments.

This article will guide you through the best cities to invest in Ontario, providing you with valuable insights to help you make informed decisions.

And if you are seeking expert guidance throughout your investment journey, Team Arora, Ontario’s premier consultancy agency, is here to offer unparalleled support and expertise.

 

Top 5 Cities to Invest in Ontario in 2023

 

Toronto: The Urban Powerhouse

Leading the pack is the bustling metropolis of Toronto – Ontario’s largest city and financial hub. Boasting a diverse economy, a robust job market, and strong rental demand, Toronto presents an ideal environment for real estate investors. The city offers a range of investment opportunities, from residential properties to commercial spaces which caters to various investment strategies.

While prices may be higher in Toronto, the potential for long-term appreciation and rental income makes it a highly attractive choice.

Ottawa: The Government Capital

As Canada’s capital, Ottawa offers stability and a thriving economy anchored by government institutions. The city’s steady job market and strong rental demand make it an excellent choice for real estate investors.

Ottawa’s relatively affordable housing market, coupled with its consistent economic growth, presents an opportunity for investors to enjoy healthy returns. Whether you opt for residential properties or commercial ventures, Ottawa’s stable and reliable market should not be overlooked.

Hamilton: The Hidden Gem

Nestled on the western shores of Lake Ontario, Hamilton is rapidly emerging as an investment hotspot. This hidden gem combines affordability, a thriving arts scene, and proximity to major transportation routes which makes it an appealing choice for investors.

The city’s revitalization efforts have attracted businesses and young professionals, fueling demand for rental properties. Hamilton’s potential for future appreciation and attractive rental yields make it an exciting investment destination.

Waterloo: The Tech Hub

Home to renowned educational institutions and a thriving tech sector, Waterloo has earned its reputation as Canada’s Silicon Valley. This vibrant city offers exceptional investment prospects, particularly in the tech-driven real estate market.

The demand for rental properties is strong, driven by a highly skilled workforce and a continuous influx of students and professionals. Investing in Waterloo allows you to tap into the city’s innovation ecosystem and benefit from long-term growth opportunities.

London: The Education Epicenter

Known for its esteemed universities and diverse student population, London presents an investment landscape brimming with potential. The city’s rental market thrives on student accommodation which creates a steady demand and provides a stable rental income for investors.

London’s affordability, combined with its growing economy and robust educational sector, position it as an attractive choice for both short-term and long-term investments.

Conclusion

Ontario offers an array of exciting investment opportunities, and these five cities stand out as the best choices for real estate investors.

Whether you are seeking a bustling urban center like Toronto, a stable government capital like Ottawa, a hidden gem like Hamilton, a tech hub like Waterloo, or an education epicenter like London, each city presents unique advantages for investors.

However remember this, making informed investment decisions is crucial to maximize your returns. That is where Team Arora, Ontario’s leading consultancy agency, comes in. With our extensive knowledge, expertise, and personalized guidance, our consultants ensure you have a trusted partner throughout your investment journey in Ontario.

So, seize the opportunity, explore the potential of Ontario’s real estate market, and let Team Arora help you unlock your investment success!

 

Industrial Real Estate Market is Booming in Canada

The industrial real estate market is booming in Canada, with record-breaking investment and development activity. This is being driven by a number of factors, including the low Canadian dollar, strong economy, and limited supply of industrial land. As a result, investors are eager to get into the market, while developers are rushing to build new projects. For now, though, it’s a great time to be in the Canadian industrial real estate market!

Lease prices for industrial spaces and plots of land designated for commercial development have grown rapidly in recent years, especially in Canadian markets. The following will explore the current state of the market and offer predictions for what is to come.

Situation

Several of Canada’s markets no longer have available industrial space, and some of our most in-demand markets don’t have any serviced land allocated for industrial development.

The 2021 Industrial Figures Q4 report stated that the national industrial availability rate fell below 2% for the first time ever. With less space available, rental asking rates have increased significantly by 10.9% (year-over-year) nationally, and up to 32.3% in bigger markets like Montreal.

Year-over-year, the average asking sale price has increased by 27.9%, with some markets seeing an 100% increase. This is especially evident in major metropolitan areas like Vancouver, Toronto, Ottawa and Montreal where prices have reached $400/sq ft.

In the current market, where vacancy rates are low and competition is high, many landlords are beginning to shorten their lease terms from 10-15 years down to only 3-5. This way, they can charge higher renewing or new tenant rents.

This inflation can cause significant problems for businesses, who may have to spend more on overhead or raise prices for customers. Inflation is currently the highest it has been in 40 years.

Solutions

There is currently a lot of construction activity going on nationwide, with 36.2 million sq. ft. of industrial space being built. However, nearly 70% of this commercial industrial real estate has already been pre-leased! This means businesses that need space will need to act quickly if they want to secure a spot.

The housing crisis in Canada is continuing to grow due to the ongoing issues with finding serviced land that is able for industrial use. This has become a major key driver in current market conditions and something needs to be done about it soon. There needs to be an increase of viable industrial space which include developing unserviced industrial land as well as getting rid of zoning restrictions and bureaucratic red tape that only delays progress. Without taking these measures, there is no way out of this affordability crisis we are facing .

With commercial real estate becoming more rare and in higher demand, the industrial real estate market in Canada is expected to become even more popular. While this will be great for landlords, it will become increasingly difficult for businesses.

Results 

Team Arora Commercial Real Estate Team is committed to purposeful development. Serving the Peel Region and Halton region for more than 18 years, our commercial realtors work with buyers and sellers, as well as with landlords and tenants, to secure fair and equitable terms. We believe in honesty, integrity and community.

Whether you’re looking to buy commercial real estate, looking for industrial vacant land for lease in Peel Region and Halton Hill Region or looking for commercial industrial real estate for lease, Team Arora commercial real estate experts can help.

Contact Team Arora Realty to learn more about our approach, find commercial land, for lease in Brampton, Mississauga view our current commercial real estate listings, or find out how we can help you achieve your commercial real estate goals.

Mississauga Location

268 Derry Rd W Unit 101, Mississauga, ON L5W 0H6

Brampton Location

2 County Court Blvd #150, Brampton, ON, L6W 3W8

Halton Hills Location

23 Mountainview Rd S, Georgetown, ON L7G 4J8