Frameless Glass Showers Foretell Toronto & Oakville Real Estate Market
Mar 4, 2017
The government may have taken initial steps to prevent real estate bubble from worsening in the GTA, but many say it isn’t enough. Home renovation related markets continue to see strong sales in the GTA where the average home prices have passed the $1M mark.
Mississauga, Canada - March 4, 2017 /PressCable/ —
With the house price continually rising in the GTA, the government may have taken initial steps to prevent the real estate bubble from worsening, but it isn’t enough according to those with fingers on the pulse. Home renovation related markets continue to see strong sale increases in Toronto, Mississauga, and Oakville where the average home prices approach or have passed the $1M mark with 30% or more reported growth.
In a recent survey, Toronto was identified as the second highest residential real estate market in Canada second only to Vancouver followed closely by Oakville in the third place. With Toronto and Oakville in such close proximity, many speculated that it was only matter of time before other surrounding cities’ prices would follow suit. Not surprisingly, the average home price in the GTA has risen from $750,000 to over $1million and it shows no signs of slowing down.
Many are quick to blame overseas investors snatching up properties with many often ending in bidding wars in the more popular parts of the city. They point to the real estate collapse of the southern neighbour as a warning and call for stronger government interventions.
However, not all are quick to join the movement. Though noted to be a risky move, many others in GTA consider their home a major part of their retirement fund. One that would disappear overnight should the bubble burst. Others point out that the real estate market helps to create a stronger economy for everyone via multiplier effect.
“I’m not a real estate expert or an economist, but the real estate market keeps the sales and businesses going, and that creates more jobs,” explained Simon Kim, owner/operator of an Oakville glass shower supplier.
He continued, “Judging from our sales, I’d say we’re probably still looking at house prices continuing upward here [GTA]. I can tell because we just opened a little over a year ago and the increase in demand is very encouraging. And that’s even without our full line of products yet.”
Kim and two other partners own and manage Ocean Bath and More – oceanshower.com.
Kim said that he and his partners are betting on the real estate market trend and plan to open several more showrooms around the GTA in the next few years if the demand for their frameless glass showers, their most popular product line, continues to show strong growth.
Contact Info:
Name: Simon Kim
Organization: Ocean Bath and More
Address: 2666 Royal Windsor Drive Unit 8, Mississauga, ON L5J 4N1, Canada
Phone: +1-416-639-2582
For more information, please visit http://oceanshower.com
Source: PressCable
Release ID: 175082
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