Quote:
Originally Posted by mikevbar1
Given the way projects here are picking up, I would like to pose a very open-ended question to others; What regions do we see as our direct competitors in the GTHA market right now? As in, where else are potential buyers looking when Hamilton is in the cards? My first guess would be Kitchener-Waterloo, York Region (Markham/Richmond Hill/Vaughan) and Mississauga, but perhaps also suburban Toronto (particularly Scarborough and other relatively affordable areas), if not Toronto itself to some degree. I base that assumption on factors like 'urbanity'/urban amenities, cost and proximity to downtown Toronto. This can hopefully help us understand why development volume is so high now, particularly relative to other areas of similar size. From there we can better gauge how many projects will actually start moving. I think it's a combination of the factors I mentioned, but I am curious as to what Hamilton offers to out-of-towners, considering those are realistically the ones buying condos downtown (or elsewhere) right now.
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Honestly I think a big reason condos are suddenly booming downtown is the GO train access. Even if most people living in downtown aren’t planning on being daily commuters, having walking access to all day go train service to Toronto is a huge bonus. *especially* if 30 minute service happens.
Otherwise, downtown is hitting a critical mass of “cool” that is making it attractive, and lets you live an urban walkable life at not downtown Toronto prices. You can get urbanish lifestyles in places like Mississauga, Kitchener, etc, but Hamilton is unique in its greater proximity to Toronto than Kitchener (it’s actually somewhat commutable), it’s greater affordability, and greater urbanity.
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