Located only 30 minutes north of Toronto, Markham can boast of many things. Not only does it have a diverse, vibrant community but also houses multiple new developments that are meant to transform the city. New condos in Markham appear every day, attracting potential residents from all other the GTA (and beyond). If you, just like them, want to live in a beautiful neighborhood with a small-town feel but a ton of urban amenities and entertainments, Markham might be the right place for you.
There are many reasons why you should check pre-construction condos in Markham. This city is a good place to live, especially if you want to have the downtown of Toronto by your side but prefer living in quieter, calmer communities. Markham is also a good place to invest in real estate, as there are numerous conditions that make its market favorable for new buyers.
Now, the city has a huge potential, mainly because it’s one of the main tech hubs in Ontario. Often being called the Silicon Valley of the North, Markham is the home to countless science and tech companies, including computer software, electronics, robotics, pharmaceuticals, development, healthcare, and more. Such an abundance of local companies (and numerous businesses) results in a stable, booming economy in the area.
Additionally, Markham is appealing to investors thanks to its excellent employment opportunities. The unemployment rate is quite low here, which attracts new residents and professionals who move to the city searching for suitable work openings. This leads us to another contributing factor – the steady population growth.
In 2017, the population of Markham was more than 340,000. It is predicted to grow by at least 3% every year. This, consequently, increases the demand for housing. So, if you decide to lease your unit out in Markham, you will always have potential renters (or potential buyers if you decide to sell it).
Another reason why many people see Markham as a great investment opportunity is its proximity and connection to Toronto’s downtown core. The public transportation system is well-developed here, so if you don’t have a vehicle (or prefer to use it more seldom), you will still be able to travel around effortlessly. Additionally, a great connection through highways allows Markham residents to reach the downtown of Toronto in only around 30-40 minutes (depending on the road that you choose).
Finally, the growing number of new developments is another contributing point that might inspire you to check out brand new condos for sale in Markham. The city is growing rapidly, changing its skyline and creating multiple new investment opportunities every day. Currently, there are so many projects in planning (and under construction), that the community is expected to get around 10,000 new homes. The demand for condominiums is quite high, with the vacancy rate of around 0.8%. These factors make Markham a good place to invest, as you are very likely to get more than decent revenue.
There are many brand new condos for sale in Markham, so you will have plenty of investment options. However, it’s always better to check the market trends to see what we are dealing with. After all, prices change, listings appear and get sold, and studying the real estate in Markham can help you figure out when to invest and what to do next.
Now, typically, new condominiums remain for around 17 days on the market before being sold. During the last month, more than 900 new listings appeared, which means that the real estate market in Markham is growing fast. Moving towards winter, the market will become slower, and you may benefit from a bit lower prices. However, in spring (the busiest season), condo prices may rise again.
Currently, the average condo prices are rather reasonable, especially given the Markham’s superb location:
Unit type
Average cost
Studio
$420K
1 bedroom
$516K
2 bedrooms
$630K
3 bedrooms
$705K
With a low vacancy rate, you might as well want to consider leasing your unit out later. Take a look at the average rent costs in Markham to see how much revenue you can get as a landlord:
Unit type
Average rent cost (per month
Studio
$1,550
1 bedroom
$1,950
2 bedrooms
$2,400
3 bedrooms
$2,800
Overall, Markham is the 7th most expensive and the 12th fastest-selling city in Greater Toronto. The city is expected to begin more new developments and completely alter its urban skyline. And while the real estate market has experienced some shifts due to the pandemic, it is expected to face price rise, which means that now might be a good time to make an investment in new condominiums in Markham.
The List of New Pre-Construction Condos in Markham
About: Located in one of the most desirable neighborhoods in Toronto Greater Area, the Riverview Condos building makes a great addition to the city’s skyline. This new condominium will have three residential buildings, and they will feature a clean, modern design. The units inside will be spacious and sophisticated, with luxurious finishes and modern appliances suitable for comfortable urban living.
About: This new condo development will combine stunning architecture and top-notch amenities, creating the best conditions for a comfortable life. The Eight Cedarland Condos will feature suites of different sizes and layouts, all boasting of tall ceilings and high-quality finishes. The building is located in a vibrant neighborhood with lots of easily accessible amenities in the area.
About: Still under construction, the Panda Markham Condos is a promising project. While very few details have been officially released, we already know that the building will feature generously-sized suites, luxurious finishes, modern designs, and top-notch on-site amenities. The residents will enjoy using a rooftop terrace, a yoga studio, a media room, a fitness center, and more. The developer’s goal is to create a vibrant and welcoming living space that combines functionality with luxurious comfort.
About: Another futuristic condo development that might change the look of Markham is the Margo project. This new condominium features an outdoor terrace, spacious units with lots of light, and an eye-catching contemporary façade. The location is also pretty great, as the residents will have access to countless amenities and multiple transit options.
About: Located in a growing community, this new development will feature mix-use urban units and amenities. The building will be surrounded by green spaces and walk-friendly areas, plus multiple entertainment and dining options. The units inside will have a contemporary design, top-quality finishes, and upscale appliances.
About: If you are looking to live (or invest) in a modern, sophisticated condominium, you might want to consider the Markham Square Condos by ONEPIECE Developments. These two residential towers will create a wonderful living environment for the residents. With such a great location and elegant, light-filled suites, the project has a lot of potential for both future residents and investors.
Markham is a charming city with a lot of potential for growth. However, even if you don’t look into the future, the modern-day Markham has a lot to offer.
More than 350,000 people call this city their home, and it is welcoming and warm. Markham is proud of its diverse community that consists of different cultural backgrounds. The city is lively and versatile. Even though it has a suburban feel to it, you aren’t likely to get bored here, as there are always plenty of things to do.
For starters, Markham is famous for its beautiful parks and hiking trails. There are also valleys, woodlots, and other green spaces, which make the city ideal for nature lovers. And in case hiking isn’t enough for you, you may be interested in the sports fields, community centers, tennis courts, and more that the city has to offer.
For those seeking more entertainment, there are museums, libraries, the Varley Art Gallery, and the Flato Markham Theater. Of course, you could always go to Toronto when you want something more, but the fact remains: even for art lovers, there are things to do in Markham.
Another cool thing about this city is the support it offers to small local businesses, which makes it an ideal place for young entrepreneurs. You can attend trainings, workshops, and seminars if you need help starting your business. Additionally, there are Youth Business Programs available for Markham high school, college, and university students who are dreaming about starting their own business.
Finally, if you are concerned about living in the suburbs, consider the multiple transit options available in Markham. There are countless bike lanes for those who want to remain active. The public transportation system is also well-developed and includes TTC, GO Bus, Go Transit, York Region Transit, Para Transit, and Viva. There are a few major highways passing by Markham, so you will get pretty much anywhere (including Toronto downtown) if you have a car.
All in all, Markham certainly deserves your attention. This city is quite versatile despite its modest size, and there’s a chance it might pleasantly surprise you.
Riverview Condos – Proximity to highway 7. Easy access to highways 407 and 404. The Unionville GO Station is a short drive away. Minutes away from the VIVA Transit bus stop.
Eight Cedarland Condos – The York Region Transit stops are minutes away. Easy access to the VIVA stops. The Unionville GO Train Station is also nearby. Proximity to highways 7, 407, and 404.
Panda Markham Condos – Walking distance to the Unionville GO Station. Easy access to the Finch and Don Mills TTC Stations by the YRT Viva. Proximity to highways 7 and 407.
Margo Condos – Around 6 minutes away from the GO Station of Mt Joy (by foot). Easy access to multiple GO Bus routes. Proximity to the TTC and YRT stops.
The Grand Residences at Remington Centre – Easy access to the Milliken GO train station, York Region Transit Terminals, and the VIVA transport extension.
Markham Square Condos – Walking distance to the Unionville Go Station, the York Region Transit, and VIVA transit. Easy access to highway 7 and Kennedy Road.
F.A.Q.
Is real estate a good investment in Markham?
Yes. Markham can offer relatively good prices and excellent location (proximity to Toronto’s downtown).
What is the average condo price in Markham?
The average condo price in Markham is $567K. Keep in mind that the price will depend on the unit type (number of bedrooms), location in the city (and proximity to the local amenities), design, and other factors.
Will Markham home prices drop?
The real estate market in Canada is expected to experience an around 9% drop in prices in 2021. However, experts predict that the prices will grow back up by at least 8% in 2022.
How long does it take to get to Toronto downtown from Markham?
It takes around 30-40 minutes to get to Toronto downtown from Markham by car (depending on the road that you choose).
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