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New Condos for Sale in Brampton

(Buyer's Guide)
Brampton is one of the fastest growing cities in Canada, and the third largest city in the Greater Toronto Area. The city has an average growth rate of 4.2%, which means that 14,000 residents make a new home here every year. Developers are building new projects to accommodate all of those people.
Neighbourhood Facts
Lifestyle & Employment
Investment Tips
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About Brampton’s New Condos

Brampton is one of the fastest growing cities in Canada, and the third largest city in the Greater Toronto Area. The city has an average growth rate of 4.2%, which means that 14,000 residents make a new home here every year. Developers are building new projects to accommodate all of those people. 

There are currently 36 new developments in Brampton, a mix of planned, under construction, or recently completed how-rise and high-rise apartments. 19 of them are single family home projects, 10 are townhouse developments, and 7 are condo developments that have no less than 257 units under construction.

The City of Brampton

Brampton is an ideal investment location because it’s close to Toronto but also has a strong economy and is home to several large corporations. This is a multicultural city. Its residents represent more than 170 different cultures and speak more than 70 languages. The city celebrates its diversity with cultural events and activities, such as the annual Carabram festival. 

Even though it’s one of the GTA’s most popular cities, Brampton offers a unique feel in the metropolitan area, thanks to its layed back, small town atmosphere. Brampton is sometimes called “Canada’s flower city” thanks to its history, beautiful landscape, many trees, and foliage. The city offers more parkland than any other densely populated area in Ontario and other amenities, ensuring high quality living for its residents. 

Brampton was founded in the early 1800s and had a population of only 500 individuals in 1853. It became a city in 1974 and its population is expected to reach 725,000 individuals by 2031. According to the 2016 census, Brampton has a population of about 600,000 people.

Brampton Condo Prices

The average selling price for Brampton condos in 2020 was $662,269. The average price per square foot for a low-rise development in Brampton is $590, but prices continue to grow year-over-year. 

Brampton pre-construction condos have an average price when compared to other units in the GTA. 

Rentals are in high demand in Brampton. The average rental rate was $1,970 in 2020. The rental prices have a constant appreciation rate of 3.15 percent over the last 10 years. The vacancy rate in Brampton is only 1.0 percent, which indicates that condos in the city are sought after.


Average prices for condos in 2020 (pre-construction & older units)

Employment

Brampton is home to the youngest community of residents in the GTA. The city had a median age of 33.7 in 2017. Young people find Brampton attractive because the city is in the proximity of Toronto and Pearson International Airport where they can find many potential jobs. 

But Brampton itself also offers a lot of possible jobs, as the city is home to over 8,000 businesses operating in the manufacturing, retail, trade, and other industries. 

The city hosts a wide variety of education facilities, such as the Sheridan College Institute of Technology, 18 trade schools, and more. As a result, the workforce in Brampton is highly qualified, as 50% of its residents have Post-Secondary degrees. 

Brampton has an unemployment rate of 5.1%, slightly higher than other cities in the GTA.


Unemployment rates for GTA municipalities in 2020

Transportation

Brampton is surrounded by major highway systems. The 410 and 107 highways transit along its eastern and northern boundaries, helping residents to reach downtown Toronto and other destinations in a short amount of time. It only takes about 55 minutes to drive from downtown Brampton to downtown Toronto. 

Brampton also has an extensive public transportation system that helps residents travel anywhere within the GTA with ease.

Investing in New Pre-Construction Condos in Brampton

The best time to invest in Brampton pre-construction condos was 10 years ago, when condos were cheaper and Brampton wasn’t so popular. The second best time is now, because Brampton is quickly becoming one of the most popular residential destinations for young people living in the GTA. 

According to the city’s officials, Brampton’s population will increase by about 125,000 people in the following decade. All these new residents will need a place to live, turning real estate investments in the city profitable in a short amount of time. 

The current pre-construction real estate landscape in Brampton is attractive for investors because it offers lower initial prices and the potential for high returns. And the earlier you invest, the higher the potential return, because pre-construction developments are sold in different stages, each with different prices and incentives.

Stage 1 - Exclusive Sales Event For Friends and Family (Selling Up to 10% of Units)

Developers usually offer exclusive deals for their friends and family members. During these sales events, up to 10% of the best units trade hands.

Stage 2 - Platinum VIP Agents Only (Selling Up to 40% of Units)

Only Platinum agents like Condo Shopper are invited to the next phase of pre-construction sales. Platinum agents gain their status by having long-lasting relationships with the developers or by selling a lot of units. This phase of pre-construction sales offers large discounts, great unit choices, incentives, rebates, and more.

Stage 3 - VIP Agents Begin Selling (Selling Up to 30% of Units)

During this stage of the process, the prices go up and the incentives go down or disappear altogether.

Stage 4 - All Agents Start Selling (Selling Up to 20% of Units)

The prices go higher during this phase. Most of the top units are gone already and the incentives disappear.

Stage 5 - Pre-registrants Start Buying (Selling Up to 10% of Remaining Units)

The developer invites pre-registrants to buy the remaining units. However, this stage might take up to a year or more, especially if the condos are in high demand locations. At this point, the prices are high and the incentives are gone. So while it may seem like a good idea to work directly with the developer, working with a Premium VIP Agent like Condo Shopper can save you money and help you secure better units faster.

Stage 6 - Grand Opening (Selling Remaining Units)

During this stage, the developer invites the general public to buy condos. The best units are gone by this point, which means buyers pay extra for the remaining units.
Condos

Condo Projects
in Brampton

uptowns heartlake condos
uptowns heartlake condos logo
UPtowns at Heartlake
10302 Heart Lake Road, Brampton, ON
Construction Status:
Completed
Sales Status:
Sold Out
Project Status:
Archived
brampton
Developer - 
VANDYK Group of Companies
Occupancy Starts - Dec 2020
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