Home Prices and the Theory of Relativity
Based on the statistics presented by the RealNet Canada Inc., regarding with new homes in Toronto for April 2015, price gab which lies between low-rise and high-rise obtained its high point at $326,659. This scenario only shows the supply and demand since the availability of land particularly for rising building cost and low-ride development keeps on shrinking. This is one reason why prices are increasing drastically.
Because of the Ontario’s Places to Grow Act, which is being implemented during 2005, for controlling the plans of the regional growth, builders experienced great impacts on it. Aside from that, many lands obtained protection through Greenbelt Act as well as Oak Ridges Moraine Conservation Plan. In other words, there is a shortage on land and this only means that the low-rise home price we may establish are on its way.
Does Time Effect Home Prices?
It is necessary that you always remember that there is a strong connection between home prices and time. Long before, if you are going to build your house, you can buy land for about $20,000, which is already a big sum of amount that time. However, right now, this could be mean millions for us. If you bought that at the time and be able to go with the unpredictable and rollercoaster-like economy, you could be pleased and never regret investing on real estate. Each generation of parents are concerned about the time that their children are going to purchase homes with today’s prices but in a matter of time, the real estate would give good ROI.
One more thing you should remember is that, homes, which are low-rise do always have higher demands though the popularity of high-rise living is increasing. Just take for instance, during April 2015, 2, 612 of low-rise homes were sold on Greater Toronto Area and with high-rise homes, it only have 1,482 sales.
This is was totally opposite on other months of the year. Right now, various condominiums are being design on a better way unlike before since its layout focuses more on maximization of the space as well as attractive amenities.
Helping Residents Grow
With the help of Ontario’s Places to Grow Act, it keeps on inspiring on establishing condominiums unit near on the traffic nodes so it could use much better the infrastructures which are already put there. For those who were residing on condominiums, it is much easier and more convenient for them when they own car. In connection with this, since each year approximately 100,000 immigrants settle in Toronto, then would need a steady source of new yet reliable homes that would meet these demand. This can’t deny anymore that Canada is one of the safest and most liveable place in the world. The quality of life that you could acquire here is incomparable. The diversity of the population do include backgrounds, ethnicities and most of the culture who are striving so hard to live.
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