Projects  \  Canada  \  Ontario  \  Mississauga

New Condos Mississauga

Nearby Cities with New Condos
Show more Less cities
Mississauga is a vibrant city located on the north shore of Lake Ontario in the Golden Horseshoe region, with over 480 parks and woodlands for year-round recreation. Its diverse communities offer a rich array of cultural markers, including art, cuisine, and architecture. Bordered by Milton, Oakville, Halton Hills, Brampton, Toronto, and Lake Ontario, Mississauga is a desirable place to live. If you're searching for new pre-construction condos in Mississauga or new homes in Mississauga, you've come to the right place. Let us help you find your dream home in this thriving city.

Mississauga Pre-Construction Condo Market Trends 2024

The average price per square foot for new pre-construction condos in Mississauga is currently $984, a figure that reflects the strong demand for these types of properties. According to a recent report by the Toronto Regional Real Estate Board, the average sale price for all types of old and new homes in Mississauga is currently $1,096,142. In terms of rental properties, the average rental rate in Mississauga is $2,244 for a one-bedroom unit. The vacancy rate is quite low at 0.9%, suggesting a competitive rental market. When it comes to the time it takes to sell properties, new condos in Mississauga typically spend 26 days on the market. Homes tend to sell more quickly, in around 17 days.

Pre-Construction Condos & Homes in Mississauga

68 results
|
Coming Soon

91 Eglinton Avenue East Last Updated 1 month ago

view project
Coming Soon

1 Village Centre Place Last Updated 2 months ago

view project
Coming Soon

Uptown Meadowvale Towns Last Updated 3 months ago

view project
Coming Soon

Reine Condos Last Updated 3 months ago

view project
Coming Soon
view project
Coming Soon
view project
Coming Soon
view project
Coming Soon

Queen Street Towns Last Updated 3 months ago

view project
Coming Soon
view project
Coming Soon
view project
Coming Soon
view project
Coming Soon
view project

Reasons to Invest in New Condos in Mississauga

Scarcity of Land and High Demand

Prices for new homes in Mississauga are soaring due to the lack of land to build new homes, caused by the greenbelt surrounding the city and the protection of green areas. This, combined with the city being one of the major destinations for new immigrants and the influx of people from Toronto to avoid the added land transfer tax, results in a high demand for housing that exceeds the supply, making it an excellent opportunity for investment in new Mississauga condos for sale.

Strong and Diverse Economy

Mississauga boasts a robust and diverse economy, with various industries like manufacturing, healthcare, and professional services. This economic strength translates to a stable housing market, less susceptible to downturns. Additionally, choosing to invest in new condos in Mississauga means proximity to Toronto, it provides easy access to an even larger metropolitan area with more job opportunities and amenities, increasing the desirability of Mississauga real estate for renters and buyers.

Attractive Rental Yields and Passive Income

New homes in Mississauga offer attractive rental yields, meaning investors can expect a steady stream of income from their properties. This can be an excellent way to generate passive income, especially considering the high demand for rental properties due to the lack of affordable housing and the influx of students from top-ranked universities and colleges in the area. Moreover, the soft Canadian dollar makes Mississauga condos for sale an appealing bargain for buyers from other countries, further fueling the demand for new condos.

Mississauga Rental and Seller Market 2024

Rental Market

Missisuga’s rental market offers a variety of options, with the average rental rate as of June 2024 at $2,244 (1 Bed). The demand for condos remains strong, with a vacancy rate of 0.9%.

Seller Market

As of June 2024, the average prices for houses and condos in Mississauga reflect a dynamic real estate market. The average price for a detached house in Mississauga is approximately $1.5 million. The average price for a condominium in Mississauga is around  $646k.

Average Renting and Selling Time in Mississauga

-New Condos

Renting Time for Condos: As of June 2024, rental new condos in Mississauga typically stay on the market for about 1-4 weeks. 

Selling Time for Condos: In June 2024, the average selling time for condos in Mississauga is expected to be 26 days. 

-New Homes

-Renting Time for Homes: As of June 2024, the average renting time for detached homes in Mississauga is around one to three weeks.

-Selling Time for Homes: The average selling time for detached homes in Mississauga in 2024 is approximately 17 days.

Neighbourhoods

The Lakeshore Area

This area stretches along Lake Ontario and includes neighbourhoods known for waterfront access, charming villages, parks and trails.

1. Port Credit

  • Highlights: Vibrant waterfront village, lively restaurant/shopping scene.
  • Perfect for: Condos for sale in Mississauga, in this area are perfect for those seeking an entertainment district with a small-town vibe.

2. Lakeview

  • Highlights: Waterfront trails, marinas, open green spaces.
  • Perfect for: Outdoor enthusiasts, boaters, and nature lovers

3. Clarkson

  • Highlights: Charming village, parks along lakeshore, heritage homes.
  • Perfect for: New condos for sale in Mississauga in this neighbourhood are great for those desiring a peaceful community near amenities.

Central Mississauga

The central area includes the city core, established residential areas, as well as cultural hubs.

1. City Centre

  • Highlights: Modern high-rises, abundant shopping/dining, transit accessibility
  • Perfect for: Urban dwellers and young professionals will love new condo developments in Mississauga in this area.

2. Cooksville

  • Highlights: Culturally diverse, family-friendly parks, affordable housing.
  • Perfect for: Multicultural families on a budget may choose new townhomes in Mississauga in this neighbourhood. 

3. Streetsville

  • Highlights: Historic downtown, Victorian architecture, local boutiques/cafes
  • Perfect for: Heritage lovers seeking a walkable village atmosphere will love new developments in Mississauga in this area.

North/West Mississauga

Consisting of newer subdivisions, business/industrial pockets and family-oriented communities.

1. Meadowvale

  • Highlights: Newer residential areas, community centers, top schools.
  • Perfect for: Growing families prioritizing amenities will love new builds in Mississauga, here, in this area.

2. Erin Mills

  • Highlights: Master-planned community, family neighborhoods, retail power centers
  • Perfect for: Planned new condo developments in Mississauga with shopping conveniences

3. Malton

  • Highlights: Home to Pearson Airport, industrial/commercial hub
  • Perfect for: Those tied to the aviation industry

Pros of Living in Mississauga

  • Accessibility/Amenities: Mississauga offers a wide range of amenities, including parks, golf courses, shopping centers, galleries, theatres, and sports facilities. Proximity to Toronto provides access to urban activities.
  • Great Weather: With 242 days per year above 0°C, Mississauga enjoys mild winters and less snowfall, thanks to its proximity to Lake Ontario.
  • Vibrant Economy: The city’s dynamic economy offers job opportunities across various industries like technology, healthcare, and finance, with low unemployment rates and competitive salaries.
  • Diverse and Welcoming Community: With a population of over 717,000 people, Mississauga is a multicultural city that fosters inclusivity. This vibrant and welcoming community allows residents to interact with people from a wide range of backgrounds and cultures, and to experience a diverse array of cuisines and lifestyles.

Cons of Living in Mississauga

  • High Cost of Living: Mississauga is known for its high cost of living, with limited affordable housing options, and high car insurance rates.
  • Construction: The city’s rapid growth has led to ongoing construction, impacting daily life with roadwork and development projects.
  • Traffic/Congestion: Being a car-centric city, traffic congestion is common, especially during peak hours, leading to challenges in finding parking and navigating the roadways.

FAQs About New Condos and Homes in Mississauga

What is the average price of new condos in Mississauga in 2024?

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​.

What amenities can I expect in new condo developments in Mississauga?

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.

Why should I consider buying a new condo in Mississauga in 2024?

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.

What is the rental market like for condos in Mississauga in 2024?

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%.

How is the public transportation system in Mississauga?

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.

What are some of the best neighbourhoods for new condos in Mississauga?

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.
Are there good schools in Mississauga?

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.

What is the economic outlook for Mississauga in 2024?

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.

What are the future development plans for Mississauga in 2024?

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.

How much is the down payment for a condo for sale in Mississauga?

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%.

What is the average price of new condos in Mississauga?

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.

What is the average condo appreciation rate in Mississauga?

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.

Are Condos selling in Mississauga?

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.

Is it a good time to sell condos in Mississauga?

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.

Why are new condo prices so high in Mississauga?

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
How can I stay updated on new condo developments in Mississauga?

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.