Gurmail Dhillon Sales Representative
Sutton Group Commitment Brokerage
Independently owned and operated
45 Woodbine Downs Blvd., Suite 3, Toronto ON, M9W 6N5
As one of Canada’s fastest growing communities, Brampton, Ontario is the first choice for many Canadians who are looking for affordable real estate within commuting distance to Toronto. Though originally established as an agricultural town, the only remnant of these times is the city’s nickname: “The Flowertown of Canada.” Brampton has since blossomed into a suburban city of more than 433,000, making it the eleventh largest city in Canada. The city is known for its diversity. A large percentage of the population belongs to visible minorities and Brampton has become a popular destination for new Canadians coming from countries in Asia. Brampton is also known for having the youngest median age in the Greater Toronto Area: 33.7.
Residential development has been occurring steadily since the 1980s, transforming what was once a collection of farms into a network of planned suburban communities. The best example of a neighborhood in Brampton is Bramalea, a master-planned town that was later absorbed into the city of Brampton. Bramalea features detached single-family homes on tree-lined streets divided into sections where all the streets begin with the same letter. It has its own malls, pools, playgrounds, and parks along with a strong tradition of neighborliness and community involvement.
Since Brampton is primarily a bedroom community serving nearby Toronto, real estate in the city is heavily weighted toward the residential rather than the commercial. The most popular type of housing is the single family detached, but the soaring population in recent years has spawned some apartment and condominium high rises. Commercial properties in Brampton include multifamily residential complexes, offices, warehouses, some factories, and several shopping centers. Brampton’s large population, generous corporate tax allowances, and low cost of land make investing here a solid prospect. There is still land available that can be converted to residential or commercial uses, but estimates suggest Brampton will have reached the limits of its physical expansion by 2021.
Prices for commercial properties vary widely depending on their size, use, and location but residential property prices can be boiled down to averages. For a single storey bungalow with 3 bedrooms, 1.5 bathrooms, and a one car garage on a small lot, the average is $308,000. Adding a second storey brings the average to $315,000. A two storey home with 4 bedrooms, 2.5 bathrooms, a two-car garage, and a larger lot costs an average of $419,000. For a larger home with more bedrooms, fireplaces, and a larger lot you would be looking at closer to $545,000. A three bedroom row or town house sells for an average of $260,000 while a two-bedroom condo costs around $167,000. Upgrading to a luxury condo brings the average to $220,000.