Development is proceeding at a rapid clip in Toronto and this can be ascertained from the sheer number of cranes operating throughout the city as per studies and reports. The index of cranes used in a city indicates its development and overall growth and it can be said that construction activity across the residential and commercial realty sectors in Toronto and the infrastructure sector is only growing with time. Toronto already has 97 cranes being used for various projects which is considerably more than other key cities in Canada and North America in general. Experts feel that the city is seeing positive growth of its real estate and infrastructural sectors and this trend is likely to continue in the future as well.
85 out of these 97 cranes in Toronto have been deployed for the creation of new housing units. Overall housing supply levels are expected to go up massively in Toronto over the next few years. This could make prices more reasonable for buyers and lead to even higher demand than observed at present. Several condominiums are being built and this could be the booming market category in Toronto real estate for quite some time to come.
The rapid increase in the number of condominium projects under construction will definitely appeal more to investors looking for investments that offer good rentals and high returns over the long haul. There are several other areas in the Greater Toronto Area (GTA) which can be tapped for community housing and other projects as per experts including parking lots, warehouses and old sites for plazas. These can eventually see the development of mixed-use communities with retail solutions and other services that people will benefit from.