Monday, September 30, 2019 / by Gianfranco
Is the Toronto real estate market going to weather the storm and this market? There has been a lot of reports coming out, but one thing that we know for sure that Toronto always weathers the storm.
Toronto's a strong economy, strong city. Canada has a lot of immigrants coming in every year. And a lot of them are coming. It's a growing city, right? It's a massively growing city. It started with 100,000 immigrants, but that's quickly gone up to 2 to 300,000 immigrants and a lot of them have money.
A lot of immigrants are coming to Toronto. Basically, the Toronto real estate market remains the most blue chip of Canadian real estate at this point and basically it is. Even in the recession, that happened before, it didn't have the impact a lot of other cities had. It went down but not like some of the cities in the U.S. or other parts of Canada and that's because of strong economy, strong population growth, and good jobs. A lot of good jobs are coming to Ontario, coming to Toronto and we have a lot of investors in this city as well.
People have this misconception that the Toronto market is driven by foreign investors and that's simply not true. We have a lot of domestic investors. A lot of smart money, smart people, and they're putting their money back into the real estate.
It's a great city to live in.
If you're thinking about making a move in the next three to six months and you would like somebody from our team to help you with the purchase or sale of your home, you can just call 647-977-9752 or you can go to our website at www.torontoplatinumteam.com and somebody from our team will reach out to discuss your plans and what the next steps will be.