54036 NAT COR Digital Magazine Final - Flipbook - Page 14
crystal ball
gazing:
Where is the GTA Home Market Heading?
As we peer into the crystal ball of the Greater Toronto Area (GTA) real estate market, a few significant trends
emerge. Immigration, population density, high-rise development, and economic predictions are factors that
paint an inspiring picture of the region’s future. With an imbalance between supply and demand, prices are
expected to drastically rise in the coming years, creating a promising increase in home value. These trends
paint a clear picture—now is the best time to buy to make the most of your investment.
IMMIGRATION AND POPULATION DENSITY
Immigration has always been a cornerstone of the GTA’s demographic landscape. The influx of newcomers
alongside a severe lack of housing supply continues to drive demand for new development, leading to
increased population density in our city centres. According to Reza Shohreh, Manager of RBC’s Builder
Development Department, “Strong immigration levels are expected to sustain elevated demand for housing,
even as the market adjusts to recent economic conditions.”
As population density rises, the GTA’s urban centers are evolving. More people are choosing to live closer
to work and amenities, leading to a surge in high-rise building developments. These developments offer
the convenience and amenities of urban living. The skyline of the GTA is transforming, with many high-rise
projects in the pipeline, signaling a shift towards vertical living.
HIGH-RISE BUILDING DEVELOPMENT
The trend towards high-rise developments is not just a response to increasing population density. It’s a
strategic move to maximize land use in the urban core. Developers are focusing on creating mixed-use
buildings that combine residential, commercial, and recreational spaces. This approach enhances the quality
of life for residents, providing everything they need within walking distance and reducing the reliance on
personal vehicles.
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NATIONAL HOMES DIGITAL MAGAZINE
