With a reputation as a lovely, livable city, Toronto understandably has one of the country’s most booming housing markets. It’s vibrant culture, top universities, and diverse population all make it an ideal place to buy a home and settle down.
As a Canadian real estate agent located out of Markham, Ontario, Najmi Muhammad is attuned to the city’s real estate trends. Here, he outlines a few facts to keep in mind when it comes to Toronto’s real estate market.
The Market is Competitive
According to recent statistics, 76% of Canada’s national wealth is currently wrapped up in real estate. Since the Toronto area is Canada’s largest housing market, it’s easy to imagine the scale of its growth. Real estate in Toronto is in higher demand than ever. With a limited supply of properties being snapped up quickly, the city’s real estate market has budded into a competitive, cutthroat scene.
Even so, real estate experts like Najmi Muhammad remind those considering a property purchase that the rewards outweigh the challenges. After all, Toronto’s market is competitive for a reason: it’s worth it.