New Condos For Sale in Pickering
New Condos in Pickering, Ontario
Pickering is without a doubt one of the most interesting real estate markets in the GTA, since it offers something for everyone. Its proximity to the City of Toronto makes it ideal for people who work in the fast-paced financial business yet like to live on the lake.
The smart investor should also note that it has the Durham Region’s second largest job market. It is also the third most populated community, implying that it is poised for a population boom.
A new tourist attraction, Durham Live, will be redeveloped. This would result in the creation of around 15000 jobs, as well as an anticipated 10 million yearly visits. The city will experience a $1.3 billion increase in GDP, as well as more than $625 million in annual total tax revenue.
With some of the country’s largest and most prominent post secondary degree schools, Pickering is expected to continue to be an innovation hotspot. Some of these schools are Centennial College, Durham College, York University, and the University of Toronto,
Pickering Real Estate Market
Pickering’s new condos have been selling for $720 per square foot as an average price. The appreciation rate of the condos has remained at 8.8 percent over the previous ten years.
You can consider these condo prices lower than some of Ontario’s other large cities.
The current average rental rate of Pickering condos is $2100. This comprises an increase in rental rate of 3% for condominium developments that has been consistent over the previous ten years.
The current vacancy rate of condos in Pickering is about 0.7 percent. This indicates that there is strong demand for new condos in Pickering.
The average selling price of all types of properties in Pickering is presently $806,350, with a 10-year resale appreciation rate of 6.5 percent.
You can expect a dramatic transition in the coming years, which will convert into large returns on your investment. The province of Ontario has designated this section of Durham Region as an urban development centre.
Investing in the Natural Beauty of Pickering Condos
The Search Engine People, the largest digital marketing company of Canada, and Municipal Property Assessment Corporation, are among the many manufacturing headquarters and corporate head offices that already call this lakeside city home.
The Pickering Town Centre Redevelopment is another great project in the works for Pickering. This project is situated between the Pickering Civic Centre and the mall’s east end.
A combination of residential projects, municipal infrastructure, and retail services will be available in this new town.
The city of Pickering at Scarborough’s immediate east is one of the fastest developing communities in the Durham Region.
It has a lovely setting with rural pockets, suburban subdivisions, a seaside hamlet, and a city centre with a variety of lifestyle options.
The Waterfront Village has multiple beaches, walking paths, and parks. The Pickering Downtown Core has an intensification program that aims to bring new condominium complexes to the area surrounding the Pickering GO Station and the Pickering Town Centre, which is one of the region’s key shopping areas.
The city has also found its name as the ‘Urban Growth Centre’ from the province of Ontario. Only two municipalities have had this distinction, and Pickering is one of them.
These regulations are part of Ontario’s Places to Grow Act, which focuses on maintaining green spaces by prohibiting development.
As a result, the natural resources here will have better protection, allowing for a perfect mix of green spaces and developed regions.
The Nautical Village, which is located along Lake Ontario’s shoreline, is one of the primary attractions here.
Thousands of tourists and residents visit throughout the summer months, making this a popular attraction.
There are galleries, restaurants, and a promenade in addition to a lively public area.
Pickering Transit Hubs
Pickering’s own GO Station is one of the city’s primary selling points. This makes the city suitable not just for families but also for professionals.
You will find more GO Stations in the area soon, which might lead to a rise in condominium prices near these transportation hubs.
The Pickering GO Station is also an excellent opportunity for real estate investors. It’s also adjacent to the Pickering Town Centre, the city’s primary commercial attraction, with a two-storey shopping centre that houses a variety of businesses, food and entertainment options.
The DRT, Durham’s regional bus service, is also available to Pickering residents.
Highways 401 and 407, which serve as the main attractions, are the gateways to the GTA for vehicles. They are located close to the urban areas of Pickering.
Another intriguing feature on the horizon is the projected new airport, expected to open in 2027.
This will aid in the area’s transformation into a transit hub, attracting more professionals to plant their roots and settle down.
It will stand next to the proposed Rouge National Park.
Residents in Pickering can commute easily, thanks to major roadways. Such as, Kingston Rd and arterial routes like Liverpool Rd, Brock Rd, and Church St.
New Condo Developments or Pre Construction Condos in Pickering
VuPoint Condos, Pickering: Tribute Communities’ VuPoint Condos is a new high-rise pre-construction condos building.
Residents will enjoy beautiful views of Lake Ontario as well as access to a variety of activities in the centre of Pickering.
The Grand at Universal City Condos: A new pre-construction condo building, this new condo development building from Chestnut Hill Developments has some of the best amenities.
A few other projects include:
Want to know more about the entire region, any new community coming up in downtown Pickering or downtown Toronto? Or for any doubts on purchase agreement, or similar other queries, contact us today.
Contact our real estate agent and get promotional materials and stay updated before it is too late.