Brampton’s Boom, Condo Doom, and a Realtor Scandal

❓ Will Canadian Condos Cost $1M in the Next Decade?

• According to Zoocasa, the average price of a condo in Canada is projected to hit $1 million within the next 10 years.

• Vancouver’s average condo price could reach $1 million by 2031, followed by Toronto in 2032.

• Halifax is forecast to see the fastest growth, with its average condo price hitting $1 million by 2032, up from $462,650 in 2024.

• Calgary’s average condo price, currently $342,000, is expected to reach $1 million by 2040.

🗽 How Trump’s Tariffs Could Impact Canadian Real Estate

• President-elect Trump plans to impose a 25% tariff on all imported goods from Canada and Mexico starting January 20, 2025.

• The Bank of Canada may respond to economic downturns caused by tariffs with further interest rate cuts, which could weaken the Canadian dollar.

• Tariffs are expected to inflate construction costs, worsening Canada’s "cost to build" crisis.

• Canadian real estate could see increased foreign investment due to a depreciating Canadian dollar, making real estate more affordable to international buyers.

Why This Matters: Lower interest rates could make borrowing cheaper, but reduced consumer spending and job losses may weaken housing demand. Rising construction costs from tariffs could also push more investors towards resale properties instead of new builds.

🤡 Realtor Liable for Millions After Shocking Client Betrayal

• A B.C. Supreme Court judge ruled that real estate agent Alan Hu acted deceptively by secretly planning to buy a home meant for his client.

• The client attempted to buy a $2.1 million home. Hu arranged for a friend to bid on the same property, including a clause to transfer ownership to another party.

• After his friend’s bid won at $2.1 million, she transferred the contract to Hu. Hu later sold the home in 2021 for $3.35 million, profiting over $1.2 million.

• The court ordered Hu to forfeit the profits from the sale, though the final amount is still unresolved due to ongoing legal disputes.

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  A B.C. Supreme Court judge condemned Alan Hu's actions as "deceptive and underhanded."

📈 Brampton's Population Skyrocketed by 90,000 in One Year

• Brampton's population grew by 89,077 in one year, jumping from 656,480 in 2021 to 745,557 in 2022, an increase of 13.6%.

• Current estimates suggest Brampton’s population is 826,998 as of 2024 and could hit one million well before the projected 2051 timeline.

• Brampton is growing four times the national rate and five times Ontario's rate, making it the fastest-growing large city in Canada and now the ninth-largest city in the country.

• Brampton's population is highly diverse, with residents from 250 cultures, 171 languages spoken, and 52.9% born outside Canada.

Why This Matters: High immigration levels and cultural diversity indicate a strong rental market with opportunities for multi-family and single-family homes. Investors should watch for opportunities in urban development projects and infrastructure expansions to support the growing population.
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🐢 Slow Recovery Ahead for Canadian Home Prices

• The market's bullish factors—ultra-low rates, substantial immigration, and pandemic-driven demand—are no longer in play.

• Slower immigration targets and temporary resident caps will sharply reduce population growth, cooling housing demand.

• Investor-owned condos face oversupply and price stagnation, contrasting with the limited supply and demand for single-detached homes.

• Millennials, once a significant demand driver, are aging out of their peak home-buying years, reducing demographic tailwinds.

🤔 WTF of The Week

Thinking of building or buying a new home? Get ready to hand over a small fortune to your city first. In Mississauga, the average municipal fee for a new low-rise home is a jaw-dropping $225,627. And for condos, Toronto proudly slaps an average $134,000 cost per unit on top of the already sky-high prices — even for shoebox-sized ones.

But wait, there’s more! Add HST, Toronto’s municipal land transfer tax, and Ontario’s land transfer tax.

Where is all this money going? Road repairs? Fancy fountains? Is it buried in a city planner’s backyard? If a new federal government can push municipalities to lower these charges, it’ll be the miracle housing needs. Until then, we’re all stuck asking the same question: WTF, Canada?

Total Municipal Fees Per Unit, by Municipality

🛠 Our Trusted Providers

Tired of dealing with riff-raff service providers in real estate? These are our Trusted Providers—handpicked by Urban 411, so you can leave the guesswork at the door.

Cardinal Law

The law firm for real estate investors in Ontario
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