The Future of Real Estate in Ontario
The Future of Real Estate in Ontario
Ontario has always been an investor’s paradise. With flourishing real estate markets like the Greater Toronto Area, and the country’s capital, Ottawa, there are plenty of options to choose from at all times.
Let’s take a look at the real estate market of Ontario and how it is expected to change in the future.
Availability
Residential real estate in Ontario is making the news for quite a few reasons. The prices of residential real estate in the Greater Toronto Area are seeing very sharp increases, and the availability is dropping at an alarming rate. This is worrying people to the extent that a housing crash in Toronto is being talked about.
The situation with commercial real estate in Ontario, however, is a different story altogether. Cities like Ottawa and Toronto have always been favourites for commercial real estate investors. Commercial real estate projects are also becoming increasingly popular in other cities like Hamilton and London. Riverbend Gates Plaza in London, Ontario, is one of the latest commercial real estate projects available for leasing. This plaza alone covers an area of 3.25 acres and has space available for rent from 1,000 square feet to 27,000 square feet.
The best part about investing at Riverbend Gates Plaza is that occupancy starts as early as this year. The brand new building and availability of pylon signs for promotional and advertising purposes makes it a great leasing opportunity for new investors.
Land Transfer Tax Rates in Ontario
An increase in the land transfer tax rates in Ontario on commercial and industrial properties means that any property with a value greater than $400,000 will have 2% tax applied to it. Furthermore, the Government of Ontario aims to modernize the Land Transfer Tax in the province in an attempt to increase affordability for home buyers. It is, therefore, expected that the sales in homes in the Ontario area will increase in the future.
The Future of Real Estate in Ontario
To find out more about the investment opportunities Riverbend Gates Plaza offers, or to learn more about the commercial real estate market of Ontario, contact Plaza Brokers.
