"In the future, these areas will outperform the rest of the region. If the market goes up everywhere, these areas will increase by 10 to 20 per cent or more. If values in the GTA drop, these will drop by 10to 20 per cent less," forecasts Campbell.
Campbell said he doesn't own property in the area, but will be looking this week for multi-residential units as an investment.
Access to transportation is just one of many real estate criteria used to determine value, but it is becoming increasingly important as highways grow more congested and gas prices increase.
Wednesday, May 7, 2008
Increasing Value
In Toronto a study recently completed posits that with the completion of the Spadina Line expansion, land costs will have risen 20%. I hope they are doing something to capture some of that increased value. The Star reports.
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4 comments:
The Subway is going to terminate in a field. It's going to be a huge waste of money.
There is nothing new about a "Subway terminating in a fielf."
The subway will encourage development in the field, and hopefully it will be transit oriented, instead of common sprawl.
It will be better development than what all those roads that terminate in a field cause.
I know there is nothing new with subways terminating in a field. However, in Toronto, there is a nasty habit of building these expensive lines, and then doing nothing for a decade. Considering that we already have a large tram system, 2 Billion could buy a lot of Tram/LRT mileage that actually SERVES the city, and not just an existing AMC/Wal-mart.
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