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Selvan Puvaneswaranathan on the Current Trends in the Real Estate Market in Ontario

in Real Estate

With every professional industry or form of investment, the pace of changes is quite difficult to predict. For instance, investing in stocks or bonds is based on predicting what the future will look like. Unfortunately, people often misread the signs and fail to recognize the direction in which the market will go. After all, if it were easy to predict, everyone would be making millions.

The same concept applies to the field of real estate. The success of property transactions is directly related to what the conditions of the market will be years down the road. To better understand this, consider one of the most popular provinces in Canada – Ontario. For those unfamiliar, this area is placed in the central region of Canada and borders the continental United States, as well as the Great Lakes. So, what are some of the latest trends that have been affecting the real estate market in Ontario? More importantly, how can prospective investors combat these changes to continue making profitable purchases?

Evolving Technology

According to a real estate agent that is currently operating in Toronto, Ontario, Selvan Puvaneswaranathan says it is undergoing dramatic changes due to the evolution of technology. And rightly so. After all, almost all real estate markets are experiencing noticeable changes due to shifting population centers and developments in modern technology. Some of the most popular examples of the new technology include blockchain, predictive analytics, as well as virtual reality. So, how exactly are some of these impacting Ontario’s housing market?

Well, the increased presence of blockchain is contributing to more transparency as well as lower overhead costs. For instance, relying on third parties to help with things like loans and financing is now replaced with direct transactions between the end-users, and corresponding fees can be bypassed. Similarly, adding predictive analytics is making it a little easier to diagnose which neighborhoods are bound to increase in value. This permits investors to buy in regions where the odds of them recouping their capital are the highest.

Retail Properties

As the economy continues to improve, the number of small businesses that are formed will grow exponentially. Usually, this leads to a change in the types of properties that are popular in the market. Well, Ontario is no exception to this as many experts believe that the demand for retail and business-use real estate will continue to grow. Of course, this does not mean that the need for residential assets will decline. On the contrary, the residential properties are forecasted to meet their expected sales numbers easily.

Relatively Low Figures

Even though the market is currently projected to surpass the approximate sales that have taken place over the past few years, Canada has been hit with one of the largest downturns in real estate in recent history. In 2019, a lot of experts are predicting that the overall units moved will drop to around 450,000. For better reference, Selvan Puvaneswaranathan reminds that such a figure would be the lowest for almost two decades. Hence why a lot of investors who have a real interest in assets in Ontario might be growing skeptical.

Nevertheless, as with every major crisis in a certain market, all downturns eventually result in a positive movement. This holds true for every event ranging from the Great Depression in the previous century to the most recent American housing crisis in 2008. So, a lot of specialists are advising people to either hold on to their assets or look for new ones to acquire as prices drop. Doing so could result in a hefty gain once the market goes back to the positive side of the growth curve.

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