Once home to a mere 50 residents, Brampton has turned into a densely populated city in southern Ontario. With a population of around 600,000; Brampton is the ninth most populous municipality of Canada. And due to the rapid growth and development of the city, the population is projected to rise dramatically over the next decade or so.
If you want to buy a condo in Brampton or have started thinking about it, you’re definitely on the right path. Brampton is known for its thriving economy and quality of lifestyle – key reasons behind mass immigration in Brampton. The lifestyle Brampton offers is unparalleled in the Greater Toronto Area (GTA). In 2007, it became the first city in the GTA to be to be selected an International Safe Community by the World Health Organization. This pretty much explains why people with diverse backgrounds chose to reside in Brampton.
As far as the condos are concerned, it’s definitely a good time to buy a condo in Brampton. The average resale price of a condo gave stupendous returns to the investors. Compared to 2016, the average condo price rose by 36.76 percent. Feeling as if you missed the train? Well, the condo prices in Brampton are estimated to go much higher, making this an excellent opportunity to buy a condo in Brampton.
There are very few investment destinations in Canada as alluring as Brampton, all thanks to its remarkable growth story. Brampton is a young and vibrant city with a lot to offer. Industries such as advanced manufacturing, retail administration, logistics, information, and communication technologies, food and beverage, life sciences, and business services have contributed massively to the economy of the city.
Brampton’s proximity to the Pearson International Airport has also played a significant role in Brampton’s growth story. The city is home to over 8000 businesses and these businesses have been of great significance as far as providing employment is concerned. It’s no surprise that Brampton’s population growth rate is almost three times as the national growth rate.
Despite all the growth and economic boom, Brampton is still in the developing phase. This suggests a massive upside for investors in the future.
The condos in Brampton are yielding handsome returns to the investors, whether it’s resale or pre-construction condos. The average index selling price of pre-construction condos was reported to be at 9% compared to 7% of 2016. The average selling price was capped at $233,000.
On the other hand, the condo owners in Brampton have big grins on their faces, thanks to the 36.76% rise in the average selling price. The average selling price of a resale condo in Brampton increased to $359,045 in 2017.
Accessibility has never been an issue and Brampton, and it will never be. Be it buses, trains, or highways; the city of Brampton is highly-accessible on all fronts.
Public transport in Brampton is provided by Brampton Transit. It connects to other transit channels of the region such as MiWay, York Region Transit, GO Transit, and Toronto Transit Commission. Moreover, Brampton houses its own Bus Rapid Transit System (BRTS), known as “Züm.” Brampton is also home to three GO stations: Bramalea, Brampton and Mount Pleasant.
Brampton is very rich when it comes to connectivity through roads is concerned. Four major highways run through or across Brampton. They are 107, 401, 407, and 410. These highways give a massive boost to the local industries.
If you’re the kind of person who likes to use your feet to get here and there, Brampton will delight you. The walk-ability score of Brampton is pretty high, it means that you could quickly get around places using your legs.
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