The Impact of Condos & Homes Development on Real Estate Prices
The real estate market in GTA is always impressive. There are always new condos and home developments here in cities like Toronto, Mississauga or Vaughan. Apart from them, infrastructure development also keeps happening and is planned here. Ontario is planning to build 1.5 million homes by 2031. These new buildings can make an area more appealing but they might also bring some downsides. If you own a home or want to buy one, it's important to understand how these changes can affect property values. How Do New Developments Influence Nearby Property Values? When new condos & homes development projects start, they often make the whole area more valuable. This is called the "halo effect." High-quality new homes can make older homes nearby seem more desirable too. For example, the Angular Condos by Daffodil Developments might boost prices in its neighborhood. But be careful – too many new homes can also lead to more competition and lower prices. What Role Does Infrast...