The Strategy behind ranking the top real estate cities in Canada for Higher Donations.
This post is sponsored by Lifetime development group for their new project Panda Condos launching in Toronto best known address at the major intersection of Yonge and Dundas. Site is visited by over 100,000 people every day.
Ever wondered what makes the top city a top and what makes the particular place in the city the best neighborhood. There are many factors that lead to the annual rankings for cities and neighborhoods. This article will highlight some of the basic factors that make or break a project, neighborhood or city in terms of the real estate market donations.
It is very important to study the market trends and take a wise decision. People invest in real estate market thinking about two things. They don’t want to buy an overpriced property and they want to make sure that the bought property will give them good returns after a given period of time. For this, a close study of different cities of Canada is done. The prices of houses in that particular city are compared with the ones around it to evaluate if the property prices are comparative, overpriced or under priced. After this, the market trends are observed to see the rise or fall in the property prices. Donations also increase if people are making money. they donate more than usual because of happy factor. For example Tridel project at Toronto Waterfront: Aquabella Condo, each suite is over a million dollors. People are investing big money and making big money and donating big money.
Ranking the top cities.
To evaluate the position of each city on the top 35 list, data is collected from Canada Mortgage and Housing Corporation, Environics Analaytics and a number of different sources. A detailed observations is then done on four factors; momentum, value, economic progress and rental income potential. Through these factors, cities are ranked where property prices are reasonable but the buying power of people is strong which ensures the rise in prices annually.
To evaluate if the houses in that particular city are overpriced or not, the price and monthly rent for property is observed. If the property shows high price to rent ratio, the property is said to be overpriced. Similarly, the house affordability in each city is examined. This involves taking into consideration the monthly wages and how much money and time it might take an average family to own a decent house.
After this, market trends are studied. For each region the demand and supply ratio is observed. If the demand is more than supply, it means it’s a seller’s market. The appreciation in house prices over the year also help in understanding the inflation rate.
A study is also done on a city’s unemployment rate, expenditure and income levels to evaluate the economic strength of that country.
Finally, rental income potential is found by observing each city’s rise in rent and vacancy rates in that city. If the vacancy rate is low, it means rental potential is strong.
These factors help in ranking the top cities for investment in rreal estate in Canda.