Located on the southwestern end of Lake Ontario, Burlington is the city that’s located at the heart of the urban corridor known as the “Golden Horseshoe.” Burlington lies just to the northeast of Hamilton and the Niagara Peninsula, and it forms the west end of the Greater Toronto Area (GTA).
Thanks to its prime location in the Golden Horseshoe corridor and economic diversity, Burlington has witnessed a remarkable growth as far as economy and infrastructure are concerned. It’s of no surprise that Burlington saw population growth of 4.3% during 2011 to 2016. And Burlington is increasingly becoming one of the favourite residential destinations. This is undoubtedly great news for the people who’re looking to buy a condo in Burlington.
With economic development plans such as Places to Grow Act in the pipeline, the construction of condos is set to get a new boost in the city. The construction of condos in between the lakefront and Burlington’s downtown has already started, making it an ideal location to live in.
When it comes to getting investment returns on condos, you’re surely in for a great time as the condo prices in Burlington are on the lower side compared to the rest of the GTA, but the prices are rising at flying speed. Compared to 2016, the average price of condos rose by 17.1 percent in the year 2017. This number is bound to leave a big grin on any investor’s face.
When you invest in a condo, you don’t just invest in the condo, or the developer, or its location; you invest in that city, in its economic growth and potential. This makes Burlington an excellent investment destination.
Burlington has been built on solid economic foundations, and it has continued making significant strides. There couldn’t be a better indicator of Burlington’s thriving economy than its job market. The city is home to 183,314 people and has jobs for 96,863 people. A big part of the credit goes to the diversity of Burlington’s economic base and its geography.
Burlington’s economy is primarily driven by sectors such as Life & Earth Sciences, Advanced Manufacturing, Information & Communications Technology, and Financial & Business Services. These sectors have generated a massive number of jobs for the people of Burlington.
Under the economic vision 2025, the city has big plans moving forward. The program came into effect in 2015, and it has played a central role in driving the sustainable economic growth of the city. It’d be of no surprise if Burlington becomes the first name on investors’ lips soon.
The price needle of pre-construction condo price in Burlington is moving a brisk speed. The average index selling price of a pre-construction condo in Burlington rose from 14% to 18%. The average selling price of a pre-construction condo increased to $484,900.
On the other hand, the average selling price of a pre-construction condo in Burlington continued giving handsome returns to the investors. The average resale selling price of a condo rose by 17.1 percent in 2017, compared to 2016 numbers. It increased to $476,577 in 2017.
Burlington’s location has been one of the major driving forces behind its growth and development. Its location in the centre of the Golden Horseshoe corridor makes it one of the most connected and accessible cities in Ontario.
Brant Street and Lakeshore road are great options when it comes to travelling in Burlington. However, Queen Elizabeth Way is another crucial element in the city’s transportation. It spans to Hamilton, St. Catherines, and Niagara Falls; and also extends to Downtown Toronto. Other major transportation corridors in the city include Highway 403, Highway 407, and Dundas Street.
If you’re a professional who likes to commute by public transport, Burlington won’t disappoint you a single bit. The public transport in the city is provided by Burlington Transit. It provides transportation network centred around three GO stations of the city: Appleby, Burlington and Aldershot. Commuter and travel rail services are provided by both GO Transit and Via Rail. Whereas, Rail cargo transportation in the city is provided by both Canadian National Railway and Canadian Pacific.
The future is even better for the residents of Burlington as GO Bold, a sustainable transportation plan is also in the implementation stage. It’ll make it easier to walk, bike, and take public transit around the city.
Taking everything into account, buying a condo in Burlington could turn out to be one of the best decisions of your life.
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