Brampton, the Flower City and dubbed one of the fastest-growing cities in Canada. The strategically located town is home to one of the largest transportation ports in Canada, connecting Brampton to all the major cities in the surrounding areas. The city is also rich in culture and history. Brampton is undoubtedly considered an excellent real estate market to invest in condos. The booming population has made it the location of choice for individuals looking for a fresh start and good opportunities, as well as people looking for a serene place to start a family.
The real estate market has witnessed a hike in construction and prices of condos. There are about 40 new development condominiums in Brampton in new construction neighbourhoods like Downtown Brampton, Madoc and Sandringham-wellington North. Since the city’s population seems to be growing at lightning speed, with an average growth rate of 4.2%, the real estate market is growing to match the population expansion. In addition, the city has several condominium buildings that are either planned, pre-construction, or completed.
Looking for the ultimate suburb? Growing Community? Access To Highways, Education, Transit and Airports? Brampton has the best places to live.
Brampton’s undisputed Luxury epicentre, plenty of space to grow with vast retail and employment emerging in every corner.
In 2023, a new condo in Brampton would start in the $500,000 range. Newer developments and listings now maintain a price of $900-$1,000 per square foot. Primarily thanks to economic growth and increased demand, the average price of condos in Brampton has doubled within the past 5 years.
The vacancy rate in Brampton still stands very low, indicating that there is still a strong need for new condo developments in the Brampton area.
Brampton was viewed primarily as a suburban community for families to prosper, large single family homes soon became opportunities for basement apartment rentals since condominiums were released very rarely. With the sell out of high rises between 2020 and 2022 there is a strong indication that more affordable condominiums are needed in the area.
There is a lot to enjoy in Brampton. People taking advantage of the new development in the city can enjoy its small-town charm, new schools, and varied entertainment options. Art lovers can explore the city’s 25+ art installations throughout Brampton. Participate in annual festivals such as the National Indigenous People Day, Winter Lights Festival, and Doors Open Brampton, which are massive celebrations that make the city feel like one big family.
The city is very accessible, with an intricate and extensive transit system, a ZUM transit service, and Go Station that have over 74 routes and 2,680 bus stops that help residents get around quickly. The city also has about 3 major Malls (Shoppers World Brampton, Bramalea City Centre and Centennial Mall)
If you invest in a new development condo in Brampton, consider its significant population growth, prime location, local amenities, and rich culture. The city is wealthy and culturally diverse, with over 110 ethnicities and spoken languages, making it an all-inclusive place to invest. You will begin to appreciate the value of your investments and enjoy returns in the coming years.
The city is well on its way to becoming one of the country’s economic centres alongside significant cities such as Mississauga and Toronto. With many affordable investment options in every corner, there’s yet to be a better time to invest in Brampton.