Why Invest in Markham?
Markham, Ontario, is a vibrant city located in the Greater Toronto Area (GTA) of Canada. Known for its diverse community, strong economy, and excellent quality of life, Markham presents an attractive investment opportunity in the real estate market. Let’s explore some compelling statistics that highlight why invest in Markham.
Why You Should Consider Investing in Markham’s Real Estate: An Insightful Statistical Perspective
1. Rapid Population Growth: Between 2021 and 2023, Markham’s population has grown by 6.3% from 353,000 to approximately 375,000 residents. This is an impressive increase, considering the national average growth rate is just 1.4% per year. A growing population means increased demand for housing, making Markham an ideal place to invest.
2. Impressive Job Market: Markham is often called the “Silicon Valley of the North” due to the over 1,500 tech and life sciences companies headquartered there. The city has an unemployment rate of 5.8%, which is lower than the national average of 6.5% as of 2023. This signifies a strong job market, leading to a consistent demand for homes and apartments.
3. High Rental Demand: Given Markham’s thriving job market, the demand for rental properties has skyrocketed. A significant proportion of residents (approximately 30%) are renters, with the average rent for a one-bedroom apartment sitting at about $1,900/month, a 7.2% increase since 2021. Investing in rental properties here could yield substantial returns.4. Robust Property Value Appreciation: In the past two years, Markham’s average home price has increased by 8.6% from $1,100,000 to approximately $1,195,000. This trend of consistent growth in property values is likely to continue, ensuring your investment appreciates over time.
5. Favorable Government Policies: The local government in Markham has implemented investor-friendly housing and infrastructure policies that have boosted the real estate market. These include affordable housing initiatives and significant investments in public transportation and local amenities.
6. Excellent Quality of Life: Markham is ranked as one of Canada’s top liveable cities, thanks to its excellent school systems, healthcare facilities, green spaces, and safety record. These factors make the city highly attractive for families, young professionals, and retirees alike, supporting a robust and diverse housing market.
In conclusion, the figures clearly indicate that Markham’s real estate is a sound investment. With its flourishing economy, growing population, and high standard of living, this city offers a golden opportunity for investors looking for substantial and sustained returns. It’s no wonder many are choosing to invest in Markham. It’s time you considered it too.