The housing boom that is being experienced in Toronto has brought fortunes to homeowners in the city. The value of houses has increased by 50% in a period of less than 5 years. Across Ontario, the value of property has increased by 18 % in the past 4 years. The latest data shows that this year alone the value of houses in Toronto and Ontario is expected to increase by 4.5 %. This and many other stories show that those who invest in houses will reap greatly in the next few years. Therefore, investing in Regent Park guarantees reliable returns in future.
It is important to note that the value of property has been on the rise since 2008. Construction of homes in the Regent Park location has not matched the demand. This has led to a situation where the value of homes has appreciated by over 30%. It is believed that the increase in prices has been caused by the soaring costs of homes in areas that were initially believed to be affordable. A shortage of listings of homes is believed to have further fueled the resale prices of homes in Toronto and its environs.
Affordable Property in Regent Park
The same case has been replicated in Regent Park area. This scenario has increased the price of homes beyond what the residents can afford. Luckily, the revitalization of the area has brought with it new fortunes. There is an increase in the number of high-rise buildings that offer cheaper alternatives to people who want to invest in real estate. Wyatt Condos for instance gives a wide range of options ranging from 3 bed-roomed to studio. Also, it is not a must that you raise millions of dollars to afford and buy property for yourself. With 200,000 only, you will be able to purchase one of the units in Regent Park’s Wyatt Condos. These units are lowly prized because they are part of the revitalization of Regent Park area whose objective is to allow many people buy condos in the area.
The average cost for condos in the neighborhood of Toronto is about $363,000. However, when you register for Wyatt Condominiums, you will be able to get one at a price of $200,000. The condos are owned by Daniel Corporation which is partnering with the Toronto Community Housing to develop the 69 acres of land in the downtown part of Toronto. The organization is committed at creating sustainable community, which is intended to create and bring vitality to Toronto’s Downtown.
As part of the revitalization process, Daniel Corporation is employing architecture to help create new spaces and construct community facilities in the Regent Park area. Already, it has constructed several banks, an aquatic center, restaurants, grocery stores, an art & Cultural center as well as community center. All this is meant to change the lives of resident and create exciting opportunities to all.