Hessami – Page 2 – Nikki Hessami | Real Estate Investment Toronto

What Does the Toronto Market Have in Store for 2021

This article was written by Aaron Broverman from torontostoreys.com.

Nikki Hessami is all about the numbers.

The sales representative for Home Leader Realty Inc. isn’t hanging her trust on opinion or a point-of-view, only what the market data is telling her. She chooses not to operate in grey areas or places of ambiguity; if the data doesn’t support it, she doesn’t present it as fact.

These values are a refreshing change in a world where fake news runs rampant and the usual prognosticators and so-called experts can often be found talking out of both sides of their mouth. This is why Hessami — a new, fresh-faced presence in the Toronto real estate scene who lets the evidence speak for itself – is the perfect person to answer this week’s question.

What do you think is in store for the Toronto real estate market in 2021?

Nobody is a fortune teller. Nobody has a crystal ball. However, I am a person who has looked at the market data and the numbers because people can say whatever they want, but these numbers never lie.

I always monitor the Toronto market analysis that comes out every month and recently it has shown that even during the pandemic and even during the lockdowns, the market in Toronto has proven to be very resilient. For example, in October 2020 compared to October 2019 the Toronto market appreciated by 25% in terms of total residential transactions. That’s a big number, and it’s very surprising.

Obviously, the lifestyle of Torontonians has changed during the pandemic. Lots of people want to move to the suburban areas of the GTA because they’re working from home, they’re locked down and they need more space (and bigger spaces). As so many people want to change locations right now, we’re seeing the housing market appreciate a lot in recent months. This is especially true in suburban areas. I have a client right now who’s looking to buy a detached house in Barrie for the simple reason that he can’t afford to buy in Toronto. Typically, for detached homes in Barrie right now, it’s not uncommon to receive 20 to 30 offers on one property with bids ranging from $70,000 to $120,000 over asking.

In comparison with houses, the Toronto condo market isn’t as hot, but total condo apartment sales have gone up 10.5 percent year-over-year and the average price for condos in the third quarter of 2020 was up 8.3% over the third quarter of 2019.

Meanwhile, the Federal Government of Canada has set an immigration target of 400,000 people for each of the next three years. This could mean up to 1.2 million new immigrants in just the next 36 months, and 34% of them will be coming to Toronto. This level of immigration shows us that over the next three years demand for housing will still be very high. In just the last year alone, from October 2019 to October 2020, the average selling price of a GTA home as risen to $968,000 (+13.7%).

All the above data clearly shows that home prices, selling prices, and demand will continue to go up in the Toronto market in 2021.

Overall, Toronto real estate prices will be going up for years. The market may experience temporary fluctuations in that trajectory, but real estate is a long-term investment and, in the long-run, home prices in Toronto will go higher and higher and never stop in this city.

In 2008, the average home price was only $379,000, in 2019, the average home price was $851,000 and in 2020 it’s $958,000. Every ten years, real estate in Toronto booms and it has been going up over these past 10 years because of immigration, attractive jobs, and the fact that Toronto is a world class city akin to London, Tokyo, New York, or Paris. Big companies like Google are in Toronto and lots of people want to be close to these places for employment. Bottom line, the Toronto real estate market will stay strong and become even stronger in 2021.

I also believe a lack of housing supply hitting the market will continue to challenge home buyers and put upward pressure on prices in 2021. Concurrently, interest rates will remain low for the next few years and property taxes will stay the same for 2021. Support for the real estate market from the Canadian government will continue to play a role as well. Developers are getting great incentives from the feds to keep building and that keeps the market very high as well.

Obviously, I’m pretty positive about the Toronto real estate market and my advice would be to take advantage of where prices are now because once the pandemic ends, lots of people with money will come back to the market and prices will go through the roof. Now, is the best time to use the pandemic as an opportunity because Toronto real estate is never going to be cheaper.

This interview has been shortened for both clarity and length.

Please note: The opinions in this article are those of the interviewee and not those of Toronto Storeys. When considering real estate advice speak with your own agent and lawyer.

Source: torontostoreys.com

Will Canadian Real Estate Prices Flourish this Winter?

The temperature outside might be dropping, but the housing market across Canada is still hot, hot, hot!

From coast to coast, the real estate industry continues to set new records with quick inventory turnover and rising prices due to high demand that is fuelled, at least in part, by low interest rates.

But will this upward trend continue through winter? The data looks promising as we near the end of 2020 and look forward to what 2021 has in store.

What can we expect from the market this winter?

The upward trend is set to continue (and Canada is leading the way)

A report published by the Federal Reserve Bank of Dallas looked at the real estate markets across the G7 countries (Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States) and the results make for very interesting reading. They found that Canadian real estate prices had experienced the most significant jump, rising nearly 2.5% from the previous quarter.

Across the country, home valuations have increased, and sales have grown year-on-year. The most notable growth was in:

Greater Toronto Area: $890,400 (+11.1%)
Greater Vancouver Area: $1,038,700 (+5.3%)
Ottawa: $517,800 (+19.9%)
Greater Montreal Area: $408,200 (+16.4%)
Halifax: $372,982 (+18.1%)

Inventory levels will remain at an all-time low. According to the Canadian Real Estate Association, inventory levels continue to remain at an all-time low. As of August, they estimated that it would take only 2.6 months to liquidate all the current listings as the current sales rate.

What factors make real estate investment in Ontario so attractive?

There are several growth factors that work in favour of the country’s real estate market, including:

Interest rates that are the lowest they have ever been and this is likely to stay the same for the next few years,
Low inventory and pent-up demand that continues to fuel growth,
Property tax will remain the same for 2021, and
Support from the Canadian government for the real estate industry.

Where should you buy property in Canada?

The Greater Toronto Area has the best long-term growth potential, and there are a number of exciting opportunities both for new homeowners and investors. Whether you are looking for a pre-construction condo in the Entertainment District, a spectacular penthouse with stunning views of Lake Ontario or a house to build a home for your family, it can help to speak to a wealth strategist. And for sellers, the next six months to a year are going to be big. If you’re looking at listing your home this is the most opportune time to plan to sell with 2021 shaping up to be a record year for sales and bidding wars. Nikki Hessami, with her years of experience in the Canadian real estate market and an uncompromising commitment to her clients, makes her the go-to person for real estate in Toronto.

Toronto’s best pre-construction condos for investments in these current market conditions.

Toronto’s property market has never looked better. Rock bottom interest rates, developer incentives and a positive future outlook for the industry have attracted attention both locally and internationally. Investors are looking to capitalize on exciting investment opportunities in the city and you have the chance to do the same.

Now is the ideal time to purchase pre-construction condos for investments while there are still options with market-beating growth potential available.

Here are the top 4 reasons to buy a pre-construction condo in these current market conditions:

A great, limited-time investment window

In Toronto, the real estate market continues to show strong growth, far outpacing other city centers around the world. But with these current statistics and future growth projections comes a more competitive market and fewer opportunities to purchase pre-construction condos for investments. Now is the time to step up to the plate and buy, rather than waiting for condos to become outpriced or risk missing out on the incentives that condo developers are currently offering.

Looking to the future

Property prices are set to continue to surge due to the low borrowing interest rates. Investors in particularly are looking to capitalize on the news that the Bank of Canada has opted not to increase the interest rate from the current 0.25%. Analysts project a healthy housing market, with growth in 2021 at 5.4% and 3.7% in 2022.

A diverse portfolio of pre-construction condos for investments

From Church-Yonge to Annex and Mount Pleasant West to Willowdale East, Nikki has a diverse portfolio of exciting investment opportunities for savvy buyers.
To view Nikki’s full portfolio, have a look here.

Your chance to get ahead

With strong growth forecast for the next few years and pent up demand from the last few months, now is the ideal time to get into the property market. If you’re ready to take the next step, start by looking at pre-construction condos for investments. And, if you need honest, unbiased advice, Nikki can help. Her years of experience in the industry and a personalized approach to matching buyers with properties will ensure that you find a pre-construction condo that perfectly aligns with your investment strategy.

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Nikki is a well-established real estate wealth strategist in Toronto and has access to new pre-construction condos for investments as they come available, so you know that you’re getting the cream of the crop when it comes to investment opportunities.

Things to consider before buying/investing in property in Toronto

The past few months have been a time for people to pause and reflect on what is most important to them. The result of this has been an upsurge in demand for properties in Toronto. Many investors are looking for a stable investment with positive long-term growth potential that offers peace of mind and the opportunity to safeguard family wealth into the future.

Before you make a decision to buy, there are four questions to ask yourself:

Why are you buying the property?

Everyone has different goals when it comes to real estate investment. For some, it’s the chance to own the home you live in, for others, it’s an opportunity to live in a good neighborhood on your own terms. And for many, especially in Toronto’s booming market, it’s a way to grow your wealth by owning an investment property and secure long-term financial freedom for your family. Understanding why you want to buy a property will help you make the right decision about what type of property to purchase.

Does the real estate growth forecast look good?

Here’s where a real estate wealth specialist can really add value. They have access to the latest market data so you can get a good idea of the historical trends and what property analysts are predicting for the future (both in the short- and long-term). They can also offer strategic advice to help you minimize risk and maximize your returns.

What are your long-term growth goals?

Buying a property is a long-term investment. To give yourself the best chance of securing a good tenant at an above-average rental, as well as selling the property quicker when the times comes, you need to find a home with an edge.

This might mean narrowing your search criteria to focus on neighborhoods that have greater growth potential, or it could mean choosing a suburb that has a surplus of tenants looking for high-quality accommodation. It could even mean that you shift your focus from buying a condo to buying a house as demand continues to grow and inventory is limited.

What changes do you want to make today to secure your future?

While many people have been concerned about the short-term implications of the pandemic, the reality is that property is a long-term investment. If you are buying a pre-construction condo, for example, you will only take ownership three to five years down the line, so you need to have a good understanding of the real estate market projections.
There are new opportunities with incentives and deposit structures that support home buyers and further bolster the real estate industry. It’s a great time to dip your toe in the market as a first time home buyer or as an investor. There are so many projects with exciting deposit structure incentives to help you multiply your investment rental property portfolio.

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Working with a respected real estate wealth strategist like Nikki is essential if you want to make a well-considered decision and find the ideal investment opportunity for your specific needs.
There are tremendous upsides to owning your own property, especially in some of Toronto’s sought-after neighborhoods. Nikki can walk you through the process and share valuable insights gained during her many years of experience in the industry.

How owning a home is a sound investment

Owning a property is a dream that many people have, especially as they start a family and want to create a home of their own. But a Toronto home is so much more than just a base, while the peace of mind and stability that it offers is very important, there are also significant financial gains to consider that will establish financial security for you and your family.

So, what makes owning a home a sound investment?

It’s a long-term, tangible investment

Compared to buying shares, owning a home is a safer investment decision that offers consistent, and often higher, growth. Unlike shares, it is a tangible asset – and it’s both low-risk and high-return. Owning a property also means that there is always the option to rent your property out, allowing you to generate cash flow while paying off your mortgage.

There is a high demand for rentals

Toronto’s high population growth rate has a direct impact on the housing market because the city’s reputation as a tech and finance hub continues to expand. Toronto is the fastest growing city in North America, and this has led to an increased demand for rental units.

It’s a leveraged investment with a strong track record

Property investment is a significantly lower risk decision compared to investing in the stock market. Stocks could dip if a company has some bad press, while the Toronto property market has shown more consistent, stable growth over the long-term.

Also, when you invest in real estate, you leverage your money as any gains that the property market makes are made on the full value of the asset.

Keep in mind that real estate typically doubles every 10 years. For example, a one million dollar property in 10 years from the day of purchase will likely appreciate to be worth 2 million. That’s 100% ROI over 10 years and one million dollars in profit.

What makes property in Toronto the best choice?

Since 2015 Toronto condos have seen the best gains, averaging an increase of 13% every year. And, if you go further back, the upward trend is consistent, averaging between 5% and 10% over the last decade. This is a good, solid base for projected future growth, making the choice to own a home a sound investment.

To get the best gains, you could consider buying a property that is:

Priced lower than other comparable properties in the same area
Situated in a neighbourhood that is in the process of gentrification, but property prices are still low
Going to appreciate in value due to proposed future projects such as the introduction of a new transit line.

When you’re ready to own your own home, chat to a real estate wealth specialist before you start. Nikki specializes in matching her clients with the ideal property that matches their needs, and helps build generational wealth.

The Right Mindset for Real Estate Investors

Financially astute investors start as early as possible growing a portfolio of assets that will generate returns for years to come, and Toronto property is the investment vehicle of choice for investors looking for tangible assets that offer growth and real returns. Around 40% of Canada’s growth has been related to housing since 2014 driven largely by the growth in Toronto’s real estate market, which has risen by almost 12% year on year between June 2019 and June 2020. This growth, coupled with low-interest rates, allows investors to consistently outperform the market.

Why is the right mindset important for real estate investors?

The right mindset can make a significant difference to your wealth and financial wellbeing, as well as helping you to secure a future and a stable income for your family. We’ve never been more confident of Toronto’s growth trajectory as the city establishes itself as a world-class financial hub while offering its residents an excellent quality of life, and career opportunities.

Do your research

Confidence shouldn’t be based on emotions and feelings alone. You can make informed decisions for a bright financial future when you have access to the right figures, including historic property rental returns, historic market growth, and market projections.

Partner with a real estate wealth strategist

Maximizing your wealth isn’t always a one-person job. As great leaders surround themselves with experts to fast track growth, so building a strong property portfolio can benefit from experts in the field.

Why is it the perfect time to invest?

When you have an understanding of the future financial returns that real estate investment in Toronto offers, it’s hard not to get excited. It’s important to look at the times now as an opportunity to invest.

COVID has proven that Toronto’s real estate market is resilient

Toronto’s real estate market has continued to grow in strength and resilience, despite the effects of COVID. While elsewhere in the world real estate prices have fallen in major city centres, the market in Toronto remains buoyant.

The future looks bright

As Toronto’s real estate market continues to outperform other investments offering a higher rate of growth and return, there is no better time to take the exciting step of purchasing real estate in downtown Toronto.

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Nikki Hessami is a real estate wealth strategist with a background in architecture. She offers her clients unique insights into Toronto property investments backed by years of experience in the industry and meticulous research into Toronto property trends.

Benefits of Living in a Condo in the Harbourfront

Walk Score: 89
Transit Score: 100
Bike Score: 86

The Harbourfront neighbourhood has something for everyone, some of the city’s best art galleries, easy access to lakeside jogging routes and water-based activities, spectacular views of Lake Ontario, near-limitless year-round entertainment, and a host of great dining and sightseeing options.

With so much to do, it’s no surprise that the Harbourfront is one of the fastest-growing areas in Toronto.

Here are the top four benefits of living in a condo in the Harbourfront:

1. The Harbourfront Centre

The Harbourfront Centre occupies a 10-acre site on the shore of Lake Ontario and offers the best in arts programming, events, and cultural food. The site hosts over 4,000 events every year, and it’s known for its restaurants, art galleries, gardens, walks, and community spaces. But it’s not just for the tourists; you’re just as likely to find residents enjoying the world-class cuisine or taking in an event – there’s something for everyone.

It’s also the starting point for exploring the area with regular ferries departing for the Toronto Islands, and it’s home to the Music Garden which was inspired by music written by the composer Bach.

2. Casual Dining and Drinks

Many of the neighbourhood’s dining options are concentrated in the Harbourfront Centre, and most offer amazing views of the lake. From authentic Italian coffee at Lavazza Espression, to Boxcar Social for after-work drinks and Lakeside Local Bar and Grill for casual dining, it’s no wonder that Harbourfront residents don’t ever feel the need to leave the neighbourhood. But, the Harbourfront’s central location in Toronto means that you’re just a short distance from fine dining restaurants in the downtown core, so you’re never short of options.

3. Views and Buildings

Living in the Harbourfront means views and lots of them! Tap into the energy of Miami when you own a condo in one of the buildings here as many have been designed to reflect the characteristics of Lake Ontario. Much careful thought and planning has gone into making the Harbourfront one of the most desirable places to live, and the breathtaking views and beautiful buildings make the most of this.

4. A Strong Community

The downtown Harbourfront neighbourhood stretches along the shore of Lake Ontario is a lively, bustling area with some of the city’s best condos. It also boasts a small-community atmosphere that is not often found in a neighbourhood dominated by condos. The area is quieter in the winter months when residents have the paths and gardens to themselves. Then, in the summer months, the Harbourfront comes to life as residents and visitors enjoy the best that this inner-city suburb has to offer.

5. Convenient Condo Living

The Harbourfront offers the best of condo-living. There are a number of older buildings that have the benefit of bigger floor plans that you won’t find elsewhere in the city. But there are also newer developments that offer the best in luxury fittings and finishes and state-of-the-art facilities.

With lots of green space, incomparable views of Lake Ontario, and access to the city’s top entertainment, culture and dining choices, the Harbourfront is one of the best places to live in Toronto. It’s a place you can happily call home with its wide-open green areas and sea views, yet with all the benefits of inner-city living.

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The Harbourfront lifestyle is difficult to beat with recently added bike paths, the expansion of the 509 streetcar, access to the Martin Goodman Trail, ferries to Toronto Island, and much, much more.

3 Reasons to Get into the Toronto Real Estate Market Right Now

Great things come from owning your property, and we want to empower you to make strategic real estate investment decisions. It’s time to take action and join our growing network of clients who have found the process straightforward as they experience the thrill of owning their own property.

Don’t let anything hold you back from your dreams of becoming a property owner or investor. We have 3 reasons why there has never been a more opportunistic time to get started than now:

1. Take advantage of low-interest rates

If you’re considering taking the plunge and investing in Toronto’s real estate market, the time to act is now. Why? Because interest rates have been at or around record lows for close to ten years, making it more attractive to own rather than rent. Consider the risk of waiting longer – you could easily end up with a higher interest rate, which will make paying off your mortgage more expensive and put unnecessary pressure on your income.

2. Grow your wealth (and cover your mortgage)

Buying a condo in Toronto is an investment, not only will you benefit from the growth of the property, but the high rental prices mean that you can generally cover your mortgage repayments on a monthly basis. This is especially true in Toronto’s booming condo market where vacancy rates are low, and rents are high.

Another way to think of it is enforced saving. It can be difficult to put away money every month into a savings account, but with your mortgage being automatically deducted every month, this discipline is going to help you grow your long-term financial wealth and stability.

3. Make the most of a competitive real estate market

Toronto property markets have seen an uptick in the last few months or the demand has been hot for real estate in the Toronto market and we have seen an increase in sales due to the demand versus the low inventory. And, in some cases, this has even led to bidding wars.

While property markets elsewhere have completely stagnated, demand in the last few months is rapidly catching up to (and overtaking) supply. If you’re a first-time buyer, this is the time to act as conditions are the best that they have been since 2009. The strength of the growth in Toronto’s most prestigious neighbourhoods has given investors confidence that the current Toronto’s real estate market is not a bubble, and many are looking for new opportunities.

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With a number of different factors affecting Toronto’s real estate market, there is a limited-time opportunity to get into the market. Mortgage rates are now being offered at under 2%, the lowest in history, making it advantageous for first-time property owners and investors. There has never been a better time to start building long-term wealth and financial security for your family.

Author: Hessami