The city of Vaughan has a lot to offer, including countless new real estate investment opportunities. If you are planning to start a family, build your business, or simply want to look into brand-new condos for sale, Vaughan would be a great place to do so.
Only a couple of decades ago, Vaughan was just a group of quiet, suburban-like communities with a population 80% smaller. These days, the picture has changed (for the better). The city is growing fast, transforming into a modern urban center and rapidly building its unique cityscape.
If you are looking to invest in new condos in Vaughan, you may find countless reasons to do that. With a population of more than 325,000, the city is working actively towards building (and selling), especially around the Vaughan Metropolitan Centre. The Metropolitan Centre promises to be an urban downtown, designed with local businesses and residents in mind. A great opportunity for an investment, it may also be a suitable place to start a family or move independently.
As Vaughan is one of the fastest-growing cities in Canada, it’s a wonderful place for both life and work. There are more than 19,000 businesses and around 3 million of the labor force within a one-hour drive. The city offers many opportunities for the existing businesses and communities and attracts new investors and entrepreneurs every year.
If you still doubt whether you should or shouldn’t search for the brand new condos for sale in Vaughan, let’s take a look at the numbers. They may give you an idea of what the city has to offer:
$1,236 billion worth of building permits were issued by the city in 2019, which means we can expect many new projects and opportunities to invest in the future.
Estimated 7% GDP growth in 2021, meaning that the Vaughan economy is flourishing.
Stable population growth, which promises more potential tenants for you (in case you decide to rent your condo out).
More than 13,000 condominiums (and growing), so the real estate market is quite rich and versatile in the area.
By checking out the new condos in Vaughan and investing now, you invest in a master-planned city. There are countless projects on the way, aiming to create a dynamic community and a modern cityscape. The idea is to add more high-rise buildings, wider sidewalks, bicycle lanes, boulevards suited for pedestrians, attractive landscapes, and more. In just a few years, the city of Vaughan is supposed to be upgraded to a whole new level.
Things You Should Know about the Vaughan Condo Market
Looking to invest in new pre-construction condos in Vaughan, you might want to familiarize yourself with the local real estate trends. Let’s take a look at the numbers, as they can present the clearest picture:
only 15.2% yearly growth in average Vaughan housing prices;
Vaughan is the 14th fastest-selling city in Greater Toronto;
more than 900 new listings appeared during the past month;
more than 400 of them were sold;
new condominiums remain for 18 days on the market (on average).
Now, let’s look at the average condo prices in Vaughan depending on the unit type:
Bedrooms
Average price
1 bedroom
$528K
2 bedrooms
$670K
3 bedrooms
$890K
The demand for condos in Vaughan is quite strong, and the current vacancy rate is only around 0.8%. That’s why it may be a good idea to invest in a new condo under construction with a plan to rent it out in the future. Let’s look at the average rent costs in Vaughan:
Bedrooms
Average rent price (per month)
1 bedroom
$1,700
2 bedrooms
$2,300
3 bedrooms
$3,000
The List of New Pre-Construction Condos in Vaughan
Promenade Park Towers
Location: 1 Promenade Circle, Vaughan ON L4J 7Y3
Developer: Liberty Development Corporation
Suites available: 1 bedroom, 1 bedroom + den, 2 bedrooms, 2 bedrooms + den, 3 bedrooms, 3 bedrooms + den
Estimated completion: 2023
Storeys: 35 and 30
Number of units: 729
About: Adding a modern urban vibe to the city’s skyline, the Promenade Park Towers are truly a statement piece of architecture. Located close to parks, hiking trails, shopping centers, golf courses, and all the extra amenities you can think of, the condominium makes a great place to live or invest in.
King’s Landing 3 South Tower
Location: 1001 Sheppard Ave E, North York, ON M2K 1C2
Developer: Concord Adex
Estimated completion: 2022
About: Posh and elegant, the King’s Landing tower looks as if it was built for royalty. The units inside can boast of luxurious finishing, chrome details, high-quality materials, and a smart design. There are wardrobe enclosures, functional kitchens, luxe bathrooms, lots of light, and countless elegant details that allow each unit to combine luxury with a modern take on the interior.
Park Avenue Place Condos
Location: Jane Street, Vaughan, ON
Developer: Solmar Development Corporation
Storeys: 22
Number of units: 182
Estimated completion: 2020
About: According to the developer, this is the place where you want to be. And it’s hard to disagree with that statement. The new Park Avenue Place condos were designed in a modern classic style. Countless building amenities, comfortable and functional units, and astonishing designs will make you want to stay here for a long, long time.
Charisma Condos
Location: 8946 Jane Street & Rutherford Road, Vaughan ON L4K 0A4
Developer: Greenpark Homes
Suites available: 2 bedrooms, 2 bedrooms + den, 3 bedrooms
Estimated completion: 2023
About: If you are looking to live (or rent out) in a modern high-rise building, you might be interested in Charisma Condos. Combining cosmopolitan details with an elegant style, these condos are perfect for a modern lifestyle. The landscapes around are also well-thought-out, so you will enjoy spending time both inside and outdoors.
Mobilio Condos
Location: Jane St & Hwy 7, Vaughan ON L4K 4M3
Developer: Menkes Developments Ltd., QuadReal
Storeys: 21
Estimated completion: 2022
About: This new pre-construction condominium is conveniently located in the Vaughan Metropolitan Centre. This is a unique mixed-use, family-friendly building that combines modern living with an elegant design. There are both condos and townhouses available. All the necessary amenities and deluxe facilities are within reach for your improved comfort.
About: Sleek and modern, the Transit City Condos are located in a thriving neighborhood that allows for countless entertainment and work opportunities. The building itself is quite noticeable, but you might also be impressed by the landscapes around it. The community is planning to have pedestrian-friendly boulevards and lots of green spaces.
The Mackenzie Condos
Location: 120 Eagle Rock Way, Vaughan, ON L6A 1P9
Developer: Pemberton Group
Storeys: 16
Estimated completion: 2022
About: Interested in boutique condos in Vaughan? Then the Mackenzie can certainly surprise you. This new condominium is a great investment opportunity as it is strategically located close to the main transit options. The units inside are beautiful and luxurious, with a contemporary touch suited for almost any potential resident.
Abeja District Condos
Location: 2901 Rutherford Road, Vaughan ON L4K 5P1
Developer: Cortel Group
Suites available: 1 bedroom, 1 bedroom + den, 2 bedrooms, 2 bedrooms + den, 3 bedrooms
Storeys: 30
Estimated completion: 2022
About: Surrounded by countless open spaces and green areas, the Abeja District Condos is a new project under construction in Vaughan that promises a lot of opportunities for new investors and residents. The building will include units of various sizes and floor plans. There will be multiple shared amenities, both indoor and outdoor.
About: Located in the heart of Vaughan, this pre-construction condo is meant to change the cityscape for the better. Featuring a modern design, it is connected to hundreds of amenities and multiple transit options. The units inside the CG Tower are stylish and well-planned. This condominium is perfect for those who want to be a part of the dynamic modern living.
Exploring the City of Vaughan
The city of Vaughan is one of the fastest-growing municipalities in the country. It has a strong entrepreneurial base, a stable economy, and a relatively low cost of doing business. Additionally, Vaughan offers countless resources to help small businesses grow, which makes this city an excellent place for startups.
While the city’s urban skyline is constantly changing and evolving, Vaughan remains one of the most family-friendly places you can come across. There are countless parks and recreation areas you and your loved ones can enjoy daily. The city is kept green and well-maintained, with lots of open spaces and nature walks.
Now, if you are excited about living in a diverse community, Vaughan would be an excellent choice for you. With multiple ethnic backgrounds, the residents enrich the local community and contribute to its multiformity.
Vaughan is located near the Pearson International Airport (with the city’s southwestern boundary being just 10 km away from Canada’s largest airport). There are non-stop flights to 180 destinations worldwide, which means you will have countless opportunities for convenient traveling.
Promenade Park Towers – Downtown Toronto is 30 minutes away. Close proximity to highways 7, 400, and 407. Easy access to VIVA, TTC, and YRT buses. The Finch Subway Station is a 15-minute drive away. The subway line is going to be expanded in the future, placing the Clark Subway Station only 2 km away from the Promenade Park Towers.
King’s Landing 3 South Tower – 5-minute walking distance from the TTC Bessarion Sheppard Line 4 Subway Station. Easy access to the Oriole GO Train Station.
Park Avenue Place Condos – 5 minutes away from highway number 400. Proximity to highways 7, 407, and 401. Easy access to the Vaughan Metropolitan Centre station, which offers access to VIVA, TTC, and YRT as well.
Charisma Condos – Highway 400 is minutes away. Proximity to highway number 7. Easy access to the Vaughan TTC Subway Station. Proximity to the Vivanext Bus Rapid Transit Station and the VMC Inter-Regional Bus Terminal.
Mobilio Condos – Minutes away from the Vaughan Metropolitan Centre subway station. Easy access to the newly expanded York-Spadina subway line. Easy connection to the YRT, VIVA, and Go Transit services. Proximity to highways 7, 400, and 407.
Transit City Condos – Proximity to the Vivanext Bus Rapid Transit Station, the Inter-Regional Bus Terminal, and he TTC VMC Subway Station. Close driving distance to highways 407, 7, and 400.
The Mackenzie Condos – Walking distance to the Maple GO Station. Easy access to the YRT bus services. Located near the 400 and 407 highways.
Abeja District Condos – Countless bus routes and YRT services in extremely close proximity to the condos. Easy access to the TTC, Zum, and VIVA transit services. Located near the Vaughan Mills Bus Terminal. Highways 400, 7, 401, and 407 are within reach as well.
CG Tower – Proximity to the Inter-Regional Bus Terminal, the TTC VMC Subway Station, and the Vivanext Rapid Transit Station. Easy access to highways number 407, 400, and 7. Walking distance to the new SmartCentres Place Bus Terminal.
F.A.Q.
What is the best season to buy a new condo in Vaughan?
Generally, winter and midsummer are the best periods when you can buy a condo in Vaughan. Spring is the busiest season, so you will have a lot of competition and might deal with higher prices. Things slow down a bit during summer, so anything between July and August would work. Winter would also be a great option since not many people usually buy during this period. You won’t have to fight for the condo you like and might even be able to negotiate the price.
Are condos in Vaughan a good investment?
Yes. Right now, the prices in Vaughan are quite attractive, but keep in mind that the market continues to grow. Investing now means you can get more revenue in the future (even if you just rent your unit out).
Can I still visit the construction sites and condos in Vaughan during Covid-19?
Technically, yes. However, for your own safety, it’s better to stick to online meetings with your realtor and virtual tours. If you absolutely have to visit the unit or the construction site, make sure you take all the precautions. Give your preference to one-on-one appointments rather than group meetings.
This is going to be my first investment. Is now a good time to become a home buyer in Vaughan?
Absolutely. Even though the current situation in Canada (and the rest of the world) is rather confusing due to the Covid, when investing in a new condo, you can take advantage of low-interest rates and much lower competition.
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