North York is among the most preferred GTA areas to invest in real estate and generate higher ROI. With a captivating motto of 'Progress with Economy,' this city is one of the fastest-growing regions. North York is near Old Toronto, which allows this place to become its metropolitan centre.
The beautiful North York treats people with lush greenery & natural sites, and there are so many affluent things that attract residents and investors. This city shares some identical features with neighbourhood boroughs, but it has certain distinctive traits that separate North York.
With a perfect balance of amenities, robust connectivity, and natural bliss, North York's future real-estate market looks profitable and high on demand. The demand for pre-construction condos in this area will grow in the future as more companies are coming to this place for investments. It's among one of the municipalities that were combined to become Toronto city's part.
Real estate growth in North York
It is the right time to invest in the real estate of North York as the property prices are growing continually with 14.3% year-over-year. Currently, the current per square foot price at North York is around $696, which will surge in the future.
This city's average rental rate is currently hovering around $2,502, which is also an appreciation rate of approximately 4.1% for the past decade. With these growth figures, the demand for pre-construction condos in North York is very high as the property vacancy rate is only 0.7%.
The average resale cost of all home types in this mesmerizing city has experienced a growth of 6.9% in the past ten years.
