If you’ve been thinking about investing in pre-construction condos in 2021, now is the time to start your research. It’s one segment of the Toronto Real Estate market that isn’t showing any signs of slowing down. In fact, it’s one of the hottest topics among both end users and investors as projects launch and pent up demand peaks.
The last half of 2020 saw the pre-construction market make a giant comeback after a short hiatus due to the Covid pandemic. But when projects like 28 Eastern and Brightwater Condos launched, buyers took notice.
Worksheet submissions more than tripled the available suite count at numerous projects, showing the pre-construction market is strong and stable. But what’s to come in 2021? There will be plenty of launches coming to the market as many of the delayed developments prepare to sell in the first half of the year. But only a select handful have my stamp of approval – not all of them, that’s for sure.
Here are the top three developments we have on our radar for clients and if you’re thinking about buying, you should take notice of these too.
Pre-Construction in 2021: XO 2 Condos
Neighbourhood: Liberty Village
A good purchase for: End Users & Investors
Projected launch: Q1, 2021
End Users will like: large floor plans, neighbourhood, terrace suites
Investors will like: highly rentable location, A+ trusted developer
XO 2 Condos, which is the second phase of the highly successful XO Condos will be launching in early 2021. This is the top pre-construction development we have our eye on, and for good reason.
The launch of phase 1 was a massive success – the demand was through the roof and so many buyers got in early, which positioned them for a great return. I had both end user clients and investor clients purchase at XO Condos and the second phase will be a good buy for both buyer types as well.
Located at Dufferin and King Street West in the neighbourhood of Liberty Village, this project is A+ for location. It’s far enough from the downtown core but still close enough to the action should you want to participate. Liberty Village is one of the best neighbourhoods in all of Toronto – even for those who will continue to work from home after we return to somewhat of a normal life.
With coffee shops, grocery, restaurants and entertainment venues right in your backyard, this location puts you in the middle of it. The TTC is literally outside your doorstep making commuting super easy.
The location is also just outside the core of Liberty Village, making the pricing attractive. It’s going to be part of the first redevelopment of King & Dufferin, so getting in early will help make you more money out of your investment.
Investors should have their eye on this project as the floor plans will be spacious – something renters are looking for. Terrace suites will be snapped up quickly as the views and outdoor space will be unmatched.
You can check out more about this project and register to be on the TRB VIP list here: https://torontorealtyboutique.com/listings/xo-condos-2-pricing-floor-plans/
Pre-Construction in 2021: Brightwater Townhomes
Neighbourhood: Port Credit
A good purchase for: End Users
Projected launch: Q1, 2021
End Users will like: townhouse living in a brand new development, close to the city
Investors might like: marquee property to add to portfolio
The Brightwater development, located in Port Credit, is going to be on the radar for end users and investors for a long time to come. And for good reason. This massive community will be the high-end neighbourhood just outside of the city that everyone’s going to want a piece of.
Phase 1 & 2 of Brightwater Condos launched in September and again, the number of worksheets received tripled the available inventory. The interest in this project is huge.
The townhouses are the most anticipated and talked-about release as so many people want to live in this community. The townhouses will be spacious, have multiple bedrooms and bathrooms and be the exact type of living a family would want in Port Credit.
With so many families wanting to relocate from a cramped condo downtown to a spacious townhouse in a high-end community, these need to be on your radar.
Traditional detached homes in Port Credit usually price many buyers out of the market, but this is an opportunity to get into this highly desirable market at an entry level price.
This is also the perfect buy for downsizers, looking to get out of their giant family homes and into a community that will appeal to their needs for many years to come.
To learn more about this new community coming to Port Credit and to register for the TRB VIP list, you can visit our project profile page here: https://torontorealtyboutique.com/listings/brightwater-condos-port-credit-pricing-floor-plans/
Pre-Construction in 2021: 8 Wellesley Street West Condos
Neighbourhood: Yonge & Wellesley
A good purchase for: Investors
Projected launch: Q1, 2021
End Users might like: proximity to Yorkville and neighbouring amenities
Investors will like: proximity to Yorkville and U of T, without Yorkville pricing
8 Wellesley Street West Condos is a new one that jumped onto our watch list recently. There are a number of key factors that make this a great project, but we have to lean towards investors as the optimal buyer for this project.
With the development’s proximity to Yorkville, It’s an absolute must-consider. Buying in Yorkville is a challenge for event the most affluent investors because of the high prices – the neighbourhood demands it and well, people pay.
But for the investor that has their eye on the surrounding neighbourhoods, you can’t get much closer than this.
CentreCourt is also a premium developer – they’re known for their quality and their timing, unlike some of their competition.
8 Wellesley Condos is the perfect choice for post-secondary students looking for off-campus accommodations during the school year – investors take note – the major downtown campuses including UofT, George Brown College, and Ryerson University are all easily accessible.
Some of Toronto’s major downtown employment hubs are easily accessible from 8 Wellesley Condos. Professionals will be able to access Queen’s Park, the Financial District, and Hospital Row, allowing residents to cut down on long, frustrating commutes and live where they work. Another bonus for investors looking at suites that will provide a solid rental income.
So, whether you are just entering the real estate investment market or a seasoned investor, 8 Wellesley Condos is a great opportunity to purchase in a coveted downtown location. This highly connected location is close to everything and makes getting around the city extremely easy. With an excellent price point compared to some other downtown condos in the area and experienced developers on board, it’s a smart and perfect choice.
To learn more about this project, you can find details and the VIP registration form for first access to suites and floor plans here: https://torontorealtyboutique.com/listings/8-wellesley-west-condos-pricing-floor-plans/
BONUS PROJECT: Liberty Market Tower Penthouse & Lower Penthouse Collection
TRB is the FIRST to receive pricing and floor plans for the Penthouse and Lower Penthouse collection at Liberty Market Tower in Liberty Village.
If you remember, this project was on fire when it launched in February of this year. Finally, the best, most desirable suites are now available and I’m happy to be able to offer them to you.
If you’d like to receive the pricing and floor plans and incentives to these suites, simply visit our Project Feature page and fill out my form. We’ll deliver the pricing and floor plans directly to your inbox.
Pre-construction condos in 2021 will be off to a hot start so don’t wait on doing your research – connect with the TRB team today for our exclusive information we have on these featured projects by filling out our form on this page – we’ll be in touch right away to help answer your questions and prepare you for buying pre-construction in 2021.