Port Credit is an eccentric neighborhood in Mississauga, located at the Credit River’s mouth on the shores of Lake Ontario. It sits towards Oakville’s east and is bordered by the CN Railway to the north, Godfrey’s Lane to the west and Seneca Avenue to the East. The neighborhood is a picturesque segment of the city that comes with a rich history. The downtown stretch of this is now a heritage conservation district. Residents here enjoy the perks of living in a place which comes with big-city amenities along with a small-town feel of the quaint lakefront. The population of Port Credit in 2016 was 12,500 which has been estimated to reach 14,000 by the year 2030. Majority of the population has ages ranging from 35-39. This is followed by people ranging from ages 30-34, who are the second majority. As per statistics, it is shown that 48 percent of the population live in high-rise apartment buildings while 67 percent of its residents are renters as compared to only 28 percent of Mississauga as a whole. The average household income here as of 2016 was $57,948. One of the main attractions in this neighborhood is its harbor which is mainly used for recreational boating, but often also used a hub for music and art festivals. The annual Waterfront Festival sees over 50,000 visitors from all over the world every year. The marina’s promenade is a picturesque park and features a boardwalk, playground and outdoor eateries.
A few steps away from the marina leads you to the heart of the village where the charming scenery, rich in history, will take you on a journey that you will not find anywhere else in Mississauga Ontario. A lively Business Improvement Association here boasts more than 400 businesses, where you will come across various shops offering everything from music, books and novelties to home décor and health food items. There are also a selection of cafes, restaurants and patios that offer a wide range of global cuisine, live music and cocktails. The neighborhood is very walkable and you will find everything you need within walking distance without having the need to use any vehicle. Port Credit is just starting to welcome the condo market with a few projects on the way. The majority of the population here consists of professionals couples who are keener on renting, making it a great opportunity for investors.
Why invest in Port Credit Real Estate?
Mississauga is slowly becoming the new favorite place to invest in the real estate market after Toronto because of its comparatively lesser rate as well as the several development plans that are lined up for it. The beautiful location of the neighborhood also plays a crucial part in the high demand for the neighborhood. While Port Credit allows its residents the peace and serenity of a waterfront, it also has all the modern amenities that promote a luxurious living experience. The neighborhood is very walkable and has amenities available all around within walking distance. This neighborhood also is also served well by public transportation, making it an ideal place for working professionals. There are several new condo development projects coming up as the city’s population keeps rising. It was estimated that the population of Mississauga would reach 14000 by 2030. All these signs prove positive for investors as there is already a huge demand for real estate properties and will continue to rise exponentially. As per statistics, it shows that out of the 48 percent population that stay in high rise apartments, 67 percent of the residents are renters. This ensures that there will be no issue in finding a tenant. The price of condos here are comparatively lesser compared to that of Toronto and it is a good time to invest now before the prices start to go up. On an average there is always a rise in the rate of properties annually and investing now will ensure a good time for your property’s value to increase. Investing here also provides you with the option of renting it out considering the high demand for properties on rent. This will not only help you utilize your invested amount to surge but also provide you with a monthly income through your tenants.
One of the main perks of becoming a resident of Port Credit is the abundance of public transportation. The neighborhood has its own GO Station, which is one of the major selling points for those who are looking to invest in real estate or even live themselves in this beautiful neighborhood by the waterfront. This train service is very convenient and allows you to travel to Toronto’s Union Station within just 30 minutes. Moat homes being within walking distance is also a blessing and serves as a hub for MiWay, which is Mississauga’s regional transit system. Residents with vehicles who prefer driving have access to several arterial roadways as well as Lakeshore Boulevard which runs through Port Credit. The adjacent location of the neighborhood to Lakeshore Boulevard makes it easily accessible and allows residents to travel to other parts of the Greater Toronto Area such as downtown Toronto and Oakville easily.
One of the other major developments in the field of transit is the proposed Mississauga’s Hurontario LRT which is expected to start operations soon. This will include a terminus in Port Credit, thereby allowing residents to travel as far north as Brampton within no time. There will be three designated stops here for Mississauga’s City Centre and Square One which will take commuting within the city to a whole new level.