- Toronto & the Greater Toronto Area have seen home prices soar in the last few years.
- Toronto’s growing population, access to employment, and diversity play a significant role in real estate appreciation as the demand for properties is higher than the available supply.
- Despite the price tags, the GTA real estate market has proven to yield the greatest return.
- Lotly is an innovative bridge that makes homeownership & real estate investing more affordable & accessible — a true win-win.
If you've been looking to purchase real estate in the GTA, you might have noticed that prices have soared in the last few years and may continue to increase. It's become nearly impossible for many to entertain the idea of purchasing the home of their dreams and more realistic to scale back expectations to just simply enter the market. So why is the GTA so expensive and is it really worth the investment?
Toronto’s growing population has accelerated in recent years.
This has been largely driven by immigration. It has become the fastest growing metropolitan area in North America and its share of Ontario's population is projected to rise from 48% in 2020 to 49.8% in 2046. Being one of Canada's largest urban centers, Toronto is one of the most preferred cities for immigrants to initially settle in for many reasons, including its cultural diversity, access to job opportunities in tech and finance, a massive public transit system and close proximity to highways, and a large rental market, to name a few. Toronto's competitive advantage is that it offers 'multi-sector strength, depth of talent and a driving economic and financial engine' that is internationally-recognized and valued by prospective immigrants.
The demand for real estate is greater than its supply in GTA.
Prices, as a result, have continued to increase and bidding wars have become normal practice. Sellers understand the perceived value placed on homes that hit the market and have high expectations when listing their own. However, sellers are also aware that there is little inventory and many have been holding onto their homes for a little longer.
Although the market has recently seen a shift in real estate activity, there is no clear indication that supply will increase or that prices for these GTA homes will significantly decline in the near future.
It has great culture and lifestyle.
Besides its cultural diversity, the GTA is home to some of the world's top-ranking postsecondary institutions. It also has incredible sports teams, entertainment and nightlife; dining and shopping; museums and art galleries; internationally-recognized tourist attractions, like the CN Tower; and the ability to escape the 'concrete jungle' to any of its beautiful parks, the lake, and lush gardens across the city. The GTA is fun and alive; it offers everything you need and more.
Is GTA real estate worth investing in?
The Toronto real estate market has proven that, over time, it will yield the greatest return. Toronto has significantly evolved and has become one of the highest-ranking cities across the globe. However, the expensive housing price in Toronto has made it very difficult for prospective home buyers or real estate investors to enter.
Lotly offers the bridge that will make housing more affordable to both investors and home buyers. Homebuyers can receive up to $250,000 in down payment assistance through shared equity with investors, both winning from the appreciation of the home. With Lotly, you can invest in prime real estate markets like the GTA with as low as $1000.