New Condos Mississauga

The average price per square foot for pre-construction condos in Mississauga will be $984 in 2024. The average sale price for condos is around $646k in 2024​.

New builds in Mississauga offer fitness and wellness facilities, outdoor spaces, and entertainment areas. They also provide co-working spaces, pet-friendly amenities, and security features, as well as parking and storage options. These amenities cater to diverse resident needs and preferences.

Buying a new condo in Mississauga or new townhomes in Mississauga in 2024 offers strong rental demand, affordability compared to Toronto, and growth opportunities in a developing city. Consider the welcoming atmosphere, population growth, and new developments in Mississauga when exploring new condo opportunities for a promising investment.

As of June 2024, the rental market in Mississauga provides a range of choices for potential tenants, with an average rental rate of  $2,244 (1 Bed). The demand for condominiums in the city remains robust, as evidenced by the low vacancy rate of 0.9%.

Mississauga’s public transportation system includes a comprehensive network of buses, rail services, and highways for efficient connectivity. MiWay operates an extensive bus network, including the Mississauga Transitway, with links to neighbouring transit systems. Three GO Transit rail lines, the Union Pearson Express, and the under-construction Hurontario LRT provide convenient rail connections. Major highways like the QEW, Highway 401, 403, and 427 offer essential road infrastructure. The proposed GTA West Corridor aims to enhance transportation further.

Some of the best neighbourhoods for new condos for sale in Mississauga include:

• Downtown Mississauga (City Centre): Known for its vibrant atmosphere, this neighbourhood offers easy access to shopping, dining, entertainment, and transit options, including the Square One Shopping Centre and the Mississauga Transitway.
• Port Credit: This lakeside community features a picturesque marina, waterfront trails, and a variety of shops and restaurants, making it an attractive location for new condo developments.
• Cooksville: A well-established neighbourhood with a diverse population, Cooksville offers convenient access to public transit, highways, and amenities such as the Trillium Health Partners Hospital and Civic Centre.

Yes, there are several highly-rated schools in Mississauga, both public and private, across different levels of education. Some of the top-ranking schools include Kenollie Public School, Credit Valley Public School, John Fraser Secondary School, and Holy Name of Mary College School, among others. These schools are recognized for their academic excellence and quality of education.

Mississauga, Canada’s 6th largest city, is a major economic center, second only to downtown Toronto. Its growth over the past 30 years can be attributed to Pearson International Airport and new residential developments, with a projected population of 812,000 by 2031. The city is home to over 88,653 businesses, employing over 428,300 workers, including 1,300+ multinational firms and 61 Fortune 500 Canadian head offices. Forbes has once again acknowledged the City of Mississauga as one of Canada’s top employers for 2024, marking the fifth year in a row it has received this distinction.

Mississauga’s 2024 development plans focus on infrastructure, Official Plan updates, strategic planning, and sustainability. The plans include the acquisition of hybrid buses ($87.9 million), maintaining infrastructure ($325 million), active transportation projects ($17.2 million), and more. The city will also review its Official Plan, refresh its Strategic Plan, and plan for community services. Priority will be given to increased density and parkland access for sustainable urban growth.

The cost of a condo in Mississauga determines the down payment. For condos under $500,000, a 5% down payment is required. If the condo’s price is between $500,000 and $1 million, the down payment is 5% of the first $500,000 plus 10% of the remaining amount. For condos exceeding $1 million, the minimum down payment is 20%.

In the past 30 days (May – June), the average sold price for new homes in Mississauga was $1,428,578, which represents a decrease of $6,984 (0.5%) from the previous 30 day period (April – May) when the average home price was $1,435,562. However, the average home price in Mississauga in the last 30 days was $77,534 (5.4%) higher than the average selling price of $1,351,044 over the last 12 months.

In the City of Mississauga, the average price per square foot for all pre-construction home types, including condos, is $984. Over the past 10 years, the pre-construction appreciation rate has been 13.5% annually, on average.

Yes, condos are selling in Mississauga.  Several real estate websites listed over 1,000 condos for sale in Mississauga. This suggests an active market for condo sales.

The condo market in Mississauga is currently transitioning from a seller’s market to a balanced market. If you are not in a rush to sell your condo in Mississauga, it may be beneficial to hold onto it for a while longer or even consider purchasing a new one. This could potentially be a good investment opportunity given the current market conditions.

Reasons for high new condo prices in Mississauga:

• High land and construction costs
• Strong demand from buyers
• Luxurious amenities and modern finishes
• Speculative investments
• A limited supply of new condos

If you want to keep up-to-date with new developments in Mississauga, consider signing up for our newsletters and registering for updates from our developer pages. Additionally, Platinum Condo Deals provides regular updates and exclusive access to new listings.