Why You Should Invest in New Condo Developments in Mississauga & Square One
New Condos in Mississauga have created an urban skyline, making it a place of opportunities. Mississauga is at the very centre of action with shopping malls, restaurants, entertainment centres, schools and colleges, and has an abundance of natural beauty. A boom in the construction industry has increased the sales of new condo units within its borders. Close to downtown Toronto and with all modern amenities within easy reach, Mississauga is a top destination for homebuyers.
The city is often called the ‘Gateway to Canada’, due to it being the new home of the country’s largest airport, Toronto Pearson International, which sits in the North Eastern corner of the city. More than the home of those curvy Marilyn Monroe Towers and Toronto’s little sister, Mississauga is quickly making a name for its self as an arts hub, finance capital and multicultural destination. Home to almost a million people, Mississauga was founded in 1805 as a suburb of Toronto although didn’t officially get its name and become its own city until 1968.
Now Mississauga Square One area is home to a diversified group of people that are scattered in neighbourhoods all across the city. Much of the development that the city has seen in recent years was governed by the former mayor Hazel McCallion, who served for 36 years. Under her governance, the city transformed from its relatively small status into being one the largest cities in Canada. Mississauga Square One Shopping Centre is well-known throughout Canada for its top brand-name stores and restaurants. This urban area offers you lots of entertainment as well.
Now known as Canada’s 6th largest city, the condo boom that has elevated Toronto has started to create the buzz in Mississauga as well. It has become multicultural boiling pot that is comprised of many new condo developments revitalized neighbourhoods, each with their appeal. Condo developers have turned their eyes to the west and have some fantastic new developments on the way in Mississauga for new home & condos for sale in the upcoming years. Mississauga is starting to come of age for condos in Mississauga and is definitely a place to watch for new condo developments.
Currently, there are over 1,300 multinational firms in the city with over 80,000 small and large business houses operating in Mississauga with the number of Fortune 500 companies which when put together, have a total of more than 400,000 workers. The city’s proximity to Toronto and the airport has enticed many working professionals and corporations to set up offices in Mississauga square one area real estate market opening up some job opportunities for locals, primarily in the banking, finance, telecommunications, information technology, automotive, condo development, pharmaceutical, and consumer products areas that are forgoing Toronto for Mississauga and bringing with them a younger demographic and creating a dynamic central city. The rise in jobs has played a significant role in the dramatic population increase in Square One. Currently, more people commute into the city for work than those leaving the city.
Mississauga New Condos Sales Prices
Condo prices in Mississauga –
Prices of real estate in Mississauga are on the rise with a sharp 12.8% increase from previous year. The average selling price of condos in Mississauga is $607,000 , as of January, 2024, showing at drop of 3%. In the previous year, the average selling price was $629,000.
- For a one-bedroom condo, the average selling price of condos in Mississauga is $534,000, showing a decrease of 5%. Last year, its price was $563,000.
- For a two-bedroom condo, the average selling price in Mississauga is $625,000, showing a decrease of 1%. In 2023, its average selling price was $629,000.
- For a three-bedroom condo, the average selling price in Mississauga is $678,000, showing a decrease of 8% from the previous year. One year ago, the average selling price was $736,000.
Townhome prices in Mississauga –
As for prices of townhouses in Mississauga, there is an overall of 5% increase in prices. Overall, the average prices of real estate in Mississauga stands at $915,000. In the previous year, the overall prices were $875,000.
- For 2-bedroom townhouse, the prices are $837,000, showing a sharp increase of 29%. In the previous year, the prices stood at $651,000.
- For a 3-bedroom townhouse, the prices are $915,000, showing an increase of 5%. In the previous year, the prices stood at $870,000.
- For a 4-bedroom townhouse, the prices stand at $944,000, showing an increase of 10%. In the previous year, the prices were $875,000.
Detached homes prices in Mississauga –
Prices of detached homes in Mississauga has seen an increase of 10% as an average. In the current year, the average prices of detached homes is $1.6 million. In the previous year, it was $1.5 million.
- Detached homes prices in Mississauga for 2-bedroom is around $2.1 million, showing a sharp rise of 64%. In the previous year, the prices stood at $1.3 million.
- For a 3-bedroom detached home, the prices are $1.1 million, a 7% decline in prices. In the previous year, the prices were at $1.2 million.
- For a 4-bedroom detached homes, the prices are $1.7 million, a 19% increase in prices. In the previous year, the prices were $1.4 million.
- For a 5-bedroom home, the prices at $3.3 million, a 17% increase in prices. In the previous year, the prices were $2.8 million.
Mississauga New Condos Living
Mississauga Square One new condos for sale have the perfect location for new home, the majority of the population lives and works around Burnhamthorpe Road and Hurontario Street — in the downtown core. They are neighbours with Toronto, have high accessibility and ample urban amenities.
Mississauga has a variety of restaurants, shopping malls and stores, museums, theatres, parks and trails, sporting activities and an active nightlife. The top shopping malls around Mississauga condos are Square One Shopping Centre, Sheridan Centre, Dixie Outlet Mall, Erin Mills Town Centre, Mississauga Chinese Centre, Westwood Square and more. Eating out is an experience with dozens of restaurants around such as the North York Fries, Panera Bread, Basil Box-Square One, Canyon Creek, Chorizo Fresh Mex, Scaddabush Italian Kitchen & Bar square one, and more.
Places residents of Mississauga condos can visit for entertainment are the Sky Zone Trampoline Park, 5 Drive-in, Jack Darling Memorial Park and Lakefront Promenade Park. Various golf and country clubs also offer excellent facilities for a perfect day out. Lovely neighbourhoods such as Port Credit, Mississauga has a lot to offer to its residents.
Toronto Pearson International Airport located at Mississauga, domestic and international travel is also most convenient for the residents of new condo in Mississauga.
Mississauga Condominiums Transit Options
Mississauga condos are highly accessible with the huge network of public transport along with many highways, major roads passing through it. Hwy 403, Hwy 401, Hwy 427, Queen Elizabeth Way, Hurontario St and Lake Ontario – Lakeshore Road W are important highways and roads that add to the convenience of the residents of Mississauga condos. Hwy 407 runs adjacent to City of Mississauga on its northwestern border. Using these various highways, residents of Mississauga condos can reach Toronto and the neighbouring areas conveniently.
The driving distance between Mississauga and Toronto is 35 km, which can be covered in about 30 minutes. A big advantage for Mississauga condos is proximity to the Downtown Toronto & Pearson International Airport. Located north of the city, it offers domestic and international air travel.
Mississauga is on three major railway lines. Toronto-Sarnia Via Rail trains serving on the Quebec City-Windsor corridor pass through Mississauga. Lake Ontario to the South of Mississauga with very large Lake Boundry.
The MiWay bus service serves along more than 90 routes in Mississauga and connects to GO Transit, TTC, Oakville and Brampton Transit. The variety of transportation choices available to commuters and proximity to the international airport are the advantages the residents of Mississauga condos enjoy. Using the Pesto — an electronic fare card that can be used for MiWay buses and subway transit — residents can move around quite quickly on public transportation. MiWay buses all come equipped with ramps and offer comfortable commute to a variety of residents; even residents using scooters or wheelchairs can use the MiWay buses to get around the city.
GO Transit is also available to all residents making stops at favourite locations like Cooksville, Lisgar, Dixie, Erindale, Meadowvale, Erin Mills, Clarkson, Port Credit, Square One, and Streetsville. Condos in Mississauga, Transitway, which runs parallel to Highway 403 also provides another convenient way for residents to get around square one.
Hurontario LRT, Mississauga will soon be home to the Hurontario LRT, The project is in the construction stage and is projected to be finished in Fall 2024, The transit line will run along Hurontario Street and will start at Port Credit GO Station to Brampton Gateway Terminal, This will make it easier and faster to travel through Mississauga.
Mississauga New Condo Value & Trends (Approx.)
- Mississauga Condo Prices have steadily risen over the past few years and are now rising at a much sharper pace.
- Average resale price for condos is rising, and parking is getting expensive in the city centre area with an average of around $30,000-$45,000 now, which was once included in the price. Two-bedroom suites were more popular before but now with price increases, the young generation is buying studios and 1 bedroom as their preferred choice with efficient floor plans per sq ft.
- Mississauga condos are on the rise with new developments and many being centrally located in Square One Mississauga’s city centre such as Keystone Condos, Daniels Wesley Tower, M3 Condos and Edge Towers. Modern high rises represent most of the Downtown Toronto luxury condos and feature luxury amenities such as daycares, ice rinks, basketball court, pool, Living arts centre, Euro-style kitchens & washrooms along with more basic fitness room, movie theatre and party room, all located in the condo building.
- With the approval of Hurontario LRT in Mississauga, condo boom is just starting with Edge Tower and Mississauga Square Condos started selling across LRT. There are 45 new buildings under the planning stage to be built over the next 5 years as part of the downtown intensification plan. Currently, Mississauga has 330 condo buildings with 22 new projects already on sale.
Mississauga Pre-Construction Condos Top Neighbourhoods
Mississauga has 23 neighbourhoods with some are more visible for condo living including Square One City Centre, Hurontario, Erin Mills, Port Credit, Lakeview and Sheridan.
Historically there were number neighbourhoods that date back to the early 1800s, with stories of aboriginal alliances, trade routes, textile mills, shipping ports and exclusive resorts for the wealthy. Only in the 1970s were these small areas merged to form the City of Mississauga.
With condos, homes, rentals, parks, shops, restaurants, culture, festivals and more, each neighbourhood has something for everyone. Mississauga Condos have the best of amenities, entertainment, educational institutes and infrastructure. Its proximity to Toronto Condo contributed to its fast growth.
