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Prices Are Going Up

As we welcome 2016, it’s no surprise that condo prices in Mississauga continue to increase at around 3% per year. The major drivers of this force are freehold homes, which have increased in some places by nearly 60% in the past decade. Condos have become the norm for all first-time home buyers and investors.

Investors continue to enjoy the low 1.2% rental vacancy rates that Mississauga has to offer.

First time-buyers might be surprised to see certain buildings such as City Gate, list one bedroom + dens for around $300k and sell. Similar units 2-3 years ago were selling in the $270’s range.

Local Buyers Compete Against International Buyers

One of the key factors driving Mississauga Condo prices up; are international buyers. Although the exact number of foreign and oversea ownership is not available for public, experts estimate this number to be as high as 15-20%. With the falling Canadian dollar (around $0.68 at the time of writing this article), Mississauga real estate looks like a “good buy” for many people abroad.

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