Why Invest in Burlington Real Estate?
Burlington has been following the overall GTA’s growth plan, and is connected through the main highways facilitating access to Toronto as well as other cities in the region. Currently, the city counts on an average income around $93,000 which is higher than Canadian average rate. Employment in Burlington has reached more than 85,000 positions and is expected to achieve 100,000 in the next few years. The 15% increase in employment affects directly real estate which has been rising very fast in the city. Another important data regarding Real Estate, is that the city has the lowest average price for condos in GTA, around $470,000. Also, the vacancy rate in the city is very low as well (1%) which generates opportunities of new Real Estate.
List of New Condos in Burlington
Why Buy New Condo Developments in Burlington?
Burlington is very strategic in terms of economy, as it offers a lot of job positions in many different areas, however the city is close to other big cities in the region making commuting not a big deal. World-class urban amenities can be found throughout the city, as Burlington is home to some of Ontario’s top festivals and events. Designated Urban Growth Centre is located at Brant Street and it plans to bring a lot more developments to the city. The population of Burlington in 2016 reached 183,314 which was an increase of 4.3 percent from that of 2011. The growth is expected to continue and the city continues to develop, accommodating more residents. The people living in Burlington earn $93,588 on an average which is more than that of an average citizen living in the Greater Toronto Area.
Throughout the city, the best ways for travel is by Lakeshore Road and Brant Street. QEW is the major connection to Hamilton, Niagara Falls and St. Catherines. Gardiner Expressway connects to Downtown Toronto very quickly.
Also, there is a GO Train station located on Fairview Street that connects to Union Station in Toronto in less than one hour. Other stations in Ontario can be reached using the same GO Train station as well. It generates multiple connections alongside GTA.
Average Prices of Condos in Burlington
The average prices of all types of houses in Burlington including condos was $391,950 for the year 2019. New listings beyond 2019 have been maintaining a price of $603 for every square foot, which is also keeping in mind the prices rising every year at 9 percent. Average rental rate on the other hand for Brampton is currently at $2,100. This is keeping in mind the rental appreciation rate of 4.83 percent which has been maintained constantly over the last 10 years. Vacancy rate in Brampton is currently at 0.6 percent, indicating that there is a strong demand for condos here.