Top 10 Swankiest Condos in Mississauga
Some people love them, some people say they blot out the sun.
Others say, quite rightly, that they're the last affordable housing option in Mississauga and surrounding cities.
But while condos are uniquely affordable (albeit growing in value as low-rise houses become unobtainable for many middle-class families and individuals), some are swankier (and therefore pricier) than others.
Those with a taste for luxury—and who recently purchased a unit in the sky—might be happy to hear that real estate brokerage Zoocasa has put together a list of the city's most expensive condo buildings.
In the blog post, Penelope Graham, managing editor, Zoocasa, points out that condos are a good investment.
Recent data from the Toronto Real Estate Board reveals the price of an average unit rose 8.3 per cent to $430,220 in November, from the same time period in 2017.
Graham also says that, despite overall slower market conditions throughout the GTA, demand for condos for sale in Mississauga remains brisk, with 181 units exchanging hands—accounting for 31 per cent of all home sales activity—over the course of the month.
In fact, the sales-to-new-listings ratio for condos in the city clocks in at 72 per cent, which indicates a steep sellers' market.
Here's a look at the city's most expensive buildings:
As for how it came up with the data, Zoocasa reviewed over 100 condo buildings in Mississauga to identify the buildings with the highest estimated price per square foot, based on sold prices in 2018 year-to-date (January to November).
Only buildings with at least 10 transactions in 2018 were included. Sold prices of individual listings were sourced from the Toronto Real Estate Board, and all calculations are by Zoocasa.
The good news for buyers on a budget? Units are still comparatively affordable.
"Mississauga has remained a hot real estate destination for its vibrant neighbourhoods, business centre, and convenient proximity to Toronto's downtown core, easily accessible via regional GO Transit service. Mississauga real estate also continues to be comparably more affordable, compared to the $596,678 it costs to purchase the average Toronto unit, yet still provide an impressive return on investment," Zoocasa says.
According to new data, the majority of those who purchased a unit within one of the city's priciest buildings have seen returns ranging from 7 - 20 per cent.
Top 3 Most Expensive Condos:
1. North Shore (1 Hurontario Street)
2018 Price/Sq Ft: $670
YoY Change: 7%
2. Limelight (365 Prince of Wales Dr)
2018 Price/Sq Ft: $629
YoY Change: 20%
3. Park 570 (570 Lolita Gdns)
2018 Price/Sq Ft: $608
YoY Change: 10%
Will you be investing in a condo in 2019?
Cover photo courtesy of @idris.yyz
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