You may have heard that Toronto’s real estate market has been a bit all over the place recently. Prices are high, and access, especially for many in the middle class market, is low. This is the case in other parts of Canada as well. Vancouver, for instance, is also facing a market with high prices that might make it seem like real estate opportunities are all about who can build the fastest.
But that’s simply not true.
The truth is, even in a difficult market, there are always opportunities for the most creative of real estate professionals to shine. Whether they are agents, designers, architects, or anyone else involved in the real estate process, every market offers some room to get creative, even in the more difficult real estate arenas.
Take design in Toronto for instance. Canada’s housing market has been very strong in general in recent years, although the market has cooled a bit in the early months of 2018. As prices soared, everyone wanted to cash in. That meant new development, as supply acted furiously to keep up with demand.
But just because new developments were needed quickly, that didn’t mean people designing the properties had to be cookie-cutter about their approach. Even today, as the market has cooled and development has slowed, design is still a critical element of the Toronto real estate landscape.
Just look at purpose-built rental construction. Even as the housing market in Toronto has relaxed, the need for this particular kind of rental continues. The condominium market is one that many people are just not interested in, or they can’t afford it. People need other options, and that’s where rentals come in.
A demand for new rental projects means there’s a demand for someone to design those projects and to make them stand out from everything else that’s been built in recent years in the city. Builders know that it’s important to make sure these projects fit into the community, but still offer a unique voice to the overall Toronto rental market. This principle is true for any sort of new construction, from luxury to affordable projects.
No one is quite sure what the Toronto housing and development market will look like a year, five years, or ten years from now. It could bounce back entirely, or cool even further. But right now, there’s a definite demand for rental units, as young professionals and other individuals who aren’t looking for a house or townhouse of their own seek apartments.
And when people looking at rental options, it’s important for an apartment to really stand out to a potential tenant to make them say “this is the one.” One way to better insure that they do that is by making sure the building and apartment have a unique, intriguing design.
As long as there’s a market for any sort of new development, be it in the form of condominiums, townhouses, or rental construction, there will always be a market for quality design that goes above and beyond the ordinary.