In spite of the economic troubles that have caused the real estate sector to plunge in many places, the Mississauga condominium market remains strong and has seen consistent increases in purchase prices as smart buyers discover the benefits of buying a home outside the Greater Toronto Area. Mississauga condominiums have attracted the attention of first time buyers who cannot bear to pay the Toronto land transfer tax that is attached to a new home purchase and the trend has prompted builders to concentrate on condo construction.
Mississauga condo figures have experienced many fluctuations ? particularly in the active to sold listings ratio ? and overall condominium median prices increased from $171,250 in February 2006 up to $230,000 in February 2009. This means that values for condos for sale in Mississauga have actually appreciated up to 16 percent in four years. The largest sector currently is for preowned condos in the current budget-conscious reality of many buyers because new condominium sales often have steeper price points, that has contributed a good market for condominium owners who are ready to sell.
Mississauga is rapidly changing from an ?urban sprawl? suburb of Toronto into an actual community with plans to revitalize the downtown area and develop public parks and green spaces with walking trails to beautify the region and attract young professional families. A multi-million dollar Living Arts Centre is being built, and is sure to become a venue for many events, from farmer?s markets to popular concerts and road shows. Across the street from the Centre, building of the Limelite Towers is ongoing, that will feature 233 ultra modern condos.
The new master planned neighborhood at Parkside Village is one more example of things to come, and the 15 story high-rise condos being constructed are proof that real progress is coming. Retail developments for shopping, dining and entertainment are popping up close to new and existing condo complexes to provide residents with goods and services close to home. For instance, the Erin Mills Town Center was built specifically to provide goods and services to nearby condominium residents. Many of the Mississauga condo projects are being located on or near to major highways and public transit centers to supply their residents with quick access to Toronto jobs and services.
Mississauga?s demographics show that the city is appealing to young professionals employed in Toronto and is also becoming a ?mecca? for recent immigrants that have been enticed by the area job market. To accommodate these new residents, it is expected that soon the need for high-rise properties will increase, and the current ratio of condos to homes will climb substantially.
There are many colleges and universities surrounding Mississauga, and the newly married couples from these places often opt to begin their families in condos rather than waiting to purchase a single family house. It is certain that condo living is going to be a inevitable shift in the future of Mississauga real estate. So the future looks very bright for both buyers and sellers that enter the condo market.
An seasoned writer of real estate information, Stefan Hyross creates news pieces for Square1CondosForSale.com along with other web sites regarding the Mississauga Condominiums market. Search for condos for sale in Mississauga by going to the website
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