Builders in Hamilton
The growth in pre-construction developments and new condos in Hamilton is starting to take off. Just a few developers that have development projects in the city are Brad Lamb and Stinson Properties. The former is one of the most reputable condo builders in Toronto, Canada. His projects are some of the best-built and most desirable condos. As far as we are concerned, Stinson Properties is responsible for some of the unique developments in the Greater Toronto Hamilton area.
One of the amazing developments on their list is the Candy Factory Lofts on Queen street west in Toronto. The developer visionary – Harry Stinson, was making hard lofts before they were ever cool. He and his team bring the same concept to Hamilton at Beasley Park. The Stinson’s pre-construction condos are located just 5 minutes from downtown Hamilton. These developments will be the most desirable not only in downtown Hamilton but in southern Ontario.
If you are looking for a list of new townhomes, Hamilton has some great developments in different neighborhoods. While there are not as many choices as in Toronto, developers have seen demand growth over the years. So if you’re looking for an available townhouse in a certain street, you might be in luck. If you don’t see an available option on our map search, contact us, and we can hunt one down for you.
About Hamilton
Hamilton, the third-largest city in Ontario, is known as the Steel Town or the “Steel Capital of Canada.” It’s also known as the “Tiger Town” or “The Hammer.” But though it comes with many names, Hamilton is a thriving city rich in history and art. You’ll find the city fascinating with a long list of old buildings, old galleries, national heritage sites, and its list of museums.
Hamilton is a city that sits between Toronto and Niagara Falls, making it a desirable destination and living address. Because of its prime location, Hamilton attracts a lot of tourists and residents every year. It offers many opportunities for people to enjoy, including art, history, pleasant meals, the great outdoors, and of course, real estate.
In the past, Hamilton was responsible for producing 60 percent of Canada’s steel. The city still produces a lot of steel today, but it has come far from being an industrial spot. Developments, condos, and homes have sprouted in neighborhoods everywhere, with 21 percent of the population living within the borders and over half the people in Ontario. With the list of job opportunities in steel manufacturing plus the increase in housing on every street, it’s no surprise that the population increased steadily in Hamilton. New condos and projects in Hamilton are always ongoing in this part of Canada.
The Real Estate Market
Condos have flourished for many reasons, but with development after development rising from the ground, many people started to relocate to condos and call this city home. From 2013 to 2016 alone, Hamilton has seen 1,391 new condos built.
If you’re a student in the city, Hamilton is an ideal address because you have a list of university options, including Brock University, Mohawk College, and McMaster University.
With the growth of condos for sale, more and more amenities, and establishments sprouted. We have more restaurants, bars, gyms, shops, and other amenities around. As we know, it’s ideal for condos to be placed near these places to grab the attention of home buyers.
Of course, with more amenities popping up, condos in Hamilton have become extremely attractive for home buyers. Developer after developer grabbed this opportunity. And because the rental price is lower than its neighboring cities, Hamilton has become a popular destination for those looking to invest in homes, pre-construction condos, and other development projects in Canada.
Lower Costs of Pre-construction Condos In Hamilton
Hamilton’s prices compared to Toronto are significantly lower, and while that most likely will always be the case. Hamilton is quickly becoming a great choice for those who desire city life but want to pay half the Toronto price. Hamilton is also home to some great entertainment and restaurants. Like liberty village before the ’90s, Hamilton is in the grips of gentrification the closer you get to the downtown. We consider it one of the best spots to invest considering its price per square foot [1] to rental rates in condos.
In addition to the price value in condos, Hamilton is set to see the industrial area eventually be redeveloped; it’s too early to say what will take its place. It will likely be significantly cleaner and more appealing, making condos more attractive too.
Prices in the Hamilton real estate market will only rise, and the same is true with real estate in other areas. However, the average selling prices for all kinds of property developments in this location stand at $606,000 last 2020. These prices have seen an 8.1% increase from the previous year.
Focusing on the specifics, one-bedroom condo units has average prices standing at $311,000 – this has seen a decrease from last year. Also, average prices for two-bedroom condo units stand at $391,000, while average prices for three-bedroom condo units are $565,000.
Aside from condos, the price of two-story homes on this address has seen a rise as well. The price was $606,671 in 2018. For a bungalow, the price rose to $509.384 that same year. These developments and projects are worth the investment for these price brackets due to Hamilton’s prime location.
Prices are building up year after year, largely depending on the condo unit’s size and the specific condo address. Looking at the average residential price by area, some places with a good average selling price for pre-construction condos include Hamilton West, Dundas, Glanbrook, and Stoney Creek. In these cities, the average price stands between $511,757 and $801,487.
Other locations are more expensive than others, but pre-construction units are generally cheaper than move-in-ready developments. Developer after developer continues constructing more condos and developments as time goes by, so there will be more new condos in Hamilton for sale and new listings around the city.
But as mentioned, Hamilton is a great choice for young professionals who want an address near the city but can’t afford a new or pre-construction condo in Toronto. Just keep in mind that the increasing price trend is highly likely to continue with more people looking for cheaper condos to give them the best investment.
Transit Options
Good condos in the city should have a variety of transportation choices. Running through Hamilton in the QEW, which can get you to Toronto in about 40 minutes (assuming that traffic is light), in the opposite direction is Niagra Falls. If you’re considering Hamilton and work in Toronto, your option is the GO train. It has been suggested that Hamilton may get an express train directly into Toronto. If that were to happen, that would make Hamilton a fantastic choice for a condo investment.
The GO Bus and GO Train provide regular services to residents, so if you live in condos in Hamilton, you have easy access to different locations and neighborhoods in the city. The bus system is available for the 34 routes, and all buses are air-conditioned as well. This makes a living in condos more desirable compared to other available developments.
Future transit plans near condos also include the building of the BLASTnetworkk. This development would provide subway transit, also making connections available to McMaster University for easier transportation for students who live in condos in Hamilton. New condos in the address will be attractive to college students because of this.
As for available air travel near condos, Hamilton has the John C. Munro Hamilton International Airport. The John C. Munro Hamilton International Airport offers domestic and international travel for people with homes in Hamilton.
More Reasons to Love Hamilton
One major thing that home buyers ask before investing in new condos is this: What activities can I do near my condo?
Well, Hamilton offers a lot of options in this aspect, further making condos attractive. There’s a list of available activities you can do in different neighborhoods.
In summer, you can spend your time at the Wild Water Works at Confederation Park. This park has an available pool and not just any pool. It has one of the largest outdoor wave pools that both kids and adults will love. It’s one of the best available attractions around.
If art is your thing, The Art Gallery of Hamilton will be your next favorite place at the address. Another great spot in the city is Adventure Village. If you’re an animal lover, you’ll see birds, lions, rhinos, giraffes, and a list of other species. And this is just near condo units.
With all these things just near condos, you’ll never run out of things to do in the city of Hamilton.
Overall, the continuous development of condos in Toronto and other developmental projects in Hamilton will make it a worthy investment for the price. Condos for sale around Hamilton will provide more residential options and amenities available for residents to enjoy. The location is great, the neighborhoods are safe, and there’s a list of available transit options for convenience. With developer after developer flocking to this area to boost available condos and investment opportunities, we can expect a rise in average price and a boost in desirability.
Here are some popular condos available in Hamilton:
