Investing in a Whitby Townhouse
The charming small town vibe of Whitby may fool some investors, but other than being one of the most remarkable neighborhoods to raise a family, Whitby is also one of the most robust real estate markets in the Greater Toronto Area. The town has witnessed an exciting surge of developments, marked by condos, apartment buildings, lakeside communities, townhouses and much more.
Over the years, Whitby has witnessed the emergence of major retail centres, and pharmaceutical manufacturers, including Patheon, McGraw-Hill Ryerson, and many others, which have created a plethora of job opportunities. The robust economy of the town makes it an attractive neighbourhood for commuters, young professionals and families, but retirees and expats seek to enjoy the lavish amenities and rural landscape of the quieter communities in Whitby.
Whitby is quickly emerging out of the label of a ‘bedroom community’ and evolving into a dynamic market that offers immense investment potential and higher rate of returns on investment. Whitby is a town on the rise, and it is quickly emerging as one of the hottest markets of the GTA.
The town administration is seeking to reap the benefits of the spellbindingly beautiful waterfront location, and multiple ongoing development plans are focused on rejuvenating the surrounding communities of Port Whitby to transform the region with modern urban establishments.
Condo developments are certainly the most attractive offerings in Whitby’s real estate landscape, and these are located around Brock Street and the scenic landscape of Port Whitby. This area is home to over 2000 residents and the job market is flourishing. Forecasts reveal that housing demands will continue to rise as the population is expected to rise to 12,500 residents in 2031, with over 3500 jobs in the industrial hubs.
Needless to say, Whitby is one of the fastest growing economies in Canada and the entire Durham region and its waterfront appeal allows residents to carve out a serenely peaceful lifestyle surrounded by natural beauty, without having to give up the comforts of a modern lifestyle. The town’s real estate market is swiftly growing and expanding, and analysts believe that 2019 is a fabulous time to invest in Whitby.
