While much of the housing sector has undergone an intense retraction coinciding to the worldwide economic slowdown, Mississauga residential real estate sector is enjoying a relatively good year. The percentage of resale homes and condos that have been sold is up compared to the previous year. In fact, the number of sales may just set a new all time high as one of the greatest sales year on record. In September 2009, Mississauga’s average existing house price was $388,417.
What do these strong sales have to say about the region as a whole? Is shopper confidence finally recovering? Are people once again placing faith in the notion that a property is a solid and lucrative investment? Because a house can be lived in, real estate has generally always been able to draw investors who sought a practical and reliable investment. Now that the days of hyper-inflated adjustable A.P.R. mortgages have finally been revealed to be an unsustainable scenario, real estate can once again recover its sensible, practical reputation. Mississauga is an excellent locale in which to see this transformation of the housing market back into one of balanced equity.
Of course, Mississauga is no ordinary town. Listed as one of the Greater Toronto Area’s best 90 employers, the city is situated within easy driving distance to Lake Ontario, and boasts a healthy diverse population of 700,000. Over and above its public transit system, the city has several cultural centers and a relatively vibrant civic culture.
Therefore, purchasing a home in Mississauga is an investment in both the tangible materials of the structure and also one’s future wealth. Since the city is only poised to grow, potential property buyers can easily see themselves putting down roots in Mississauga, and watching their original investment grow at a healthy rate. With a good school system and enjoyable neighborhoods, Mississauga has everything that a new home owner would want.
The condominium market in Mississauga is an excellent opportunity for first-time buyers. Mississauga has condos for every budget and personal configuration imaginable; with over 100 condominium buildings in the city, buyers can take their pick. Condo ownership, which is generally a wonderful way to start oneself in the real estate market and also enjoy the perks of a metropolitan area, is definitely increasing in Mississauga| Enjoying the plethora of metropolitan activities and compact, clever living has never been simpler than in the growing condo market of Mississauga. And with 40,000 condos expected to become available in the Greater Toronto Area over the next 18 months, more choices will be available to purchasers.
Ultimately, the continued growth of the real estate sector, which can be experienced as a microcosm in Mississauga, but which could simply spread to the remainder of the world economy, should be based not simply on making money, but on re-establishing the very idea of cities and communities. Buyers should refrain taking money away from the housing market for temporary gain and instead begin investing in their own individual futures. By investing in communities, and not short-term gain, home buyers will together bolster the real estate market.