It was reported by TRREB, April 21, 2022, the condo apartment sales remain strong with the average selling price increased by 22.5% year over year during the1st quarter 2022.  The condo apartment is a main source of housing to be supported by the strong population growth of more than 1.3M new immigrants in next few years.

• 2022: 431,645 permanent residents
• 2023: 447,055 permanent residents
• 2024: 451,000 permanent residents

- “It’s a scarce commodity for horizontal construction, but for vertical construction you can layer up floor after floor after floor.” said by Murtaza Haider, a professor of data science and real estate management at Toronto Metropolitan University.  Apartment, row house growth outpaces single-detached homes: census

THREATS :

- Toronto proposes at 49% increase to development charges - Finally the builders will increase the prices and extra charges will be transferred to the purchasers.  

- On April 25, 2022, the governor of the Bank of Canada is indicating the key interest rate could increase another 0.5% in June to help flight inflation rate under control.  The inflation rate of March 2022 reached 6.7% which is at the highest level since 1991.

Below is a chart of mortgage rate history for 30 years.  The current mortgage rate still looks at low levels compared to previous rates.  It is understood that the cheap borrowing costs were offered by the central bank of Canada and rapid population growth from new immigrant policy to stimulate the economy and to stress much on housing crisis during the covid-19 pandemic.  

In the current market, the seller and the buyer own their opinion about the housing market trend.  The sellers holding decent properties are patient to expect the aggressive prices and the buyers hesitate the offer prices.  Anyway, the annual price growth of 30%+ is exceptional and cannot remain long term. Please do not hesitate to contact our team at 647-298-1234 to discuss details about your queries.  

EXPRESS 2 - CONDOMINIUMS ON THE SUBWAY

FLOOR PLANS & PRICE LISTS ARE ON HAND.  Please contact us at 647-298-1234.  You must have a surprise at the competitive prices and incentive scheme with extension payment schedules.

Located steps to Wilson Subway Station by 2 mins walking and surrounded by landscaped courtyards, everyday conveniences, shopping, higher learning institutions, and recreational facilities. Express 2 is designed to deliver an enviable living experience and a great life in a connected community.  The tower outlook of Express 1 has been seen.

Project : Express 2 by Malibu Investments Inc

Address : 10 Tippett Road (Wilson Ave and Allen Road) in North York

No. of Units : Approx 383

Suite Types : Junior 1 Bedroom to 3 Bedrooms

Starting Price : From the $550's

Anticipated Occupancy :2026