Markham, Canada's 16th largest city, is situated in Southern Ontario's Greater Region of Toronto, around an hour north of Toronto city. Markham is the largest municipality in the York Region, with a population of about 300,000 people and an area of around 82 square miles.Markham is surrounded by five municipalities and is often referred to as a Toronto suburb.
Markham's population is increasing at a pace that is nearly three times faster than the rest of Canada. The official language is English, but Cantonese and Mandarin are spoken by over 20% of the population. East Asians account for approximately 40% of Markham's population, led by Whites (28%), and South Asians (19%). Markham bills itself as Canada's High-Tech Capital, with Broadcom Canada, IBM Canada, and ATI Innovations among its several corporate headquarters. Markham is also a green energy pioneer, with a goal of achieving net zero energy, water waste, and pollution by 2050.It has York Region's largest solar energy grid and is in charge of a variety of energy saving initiatives.
The housing market in Markham is extremely hot, owing to an influx of buyers drawn to the area's huge Chinese population. Markham also has a slew of Chinese restaurants, stores, and schools, making it a very appealing investment.
Over the next 20 years, the city is expected to expand exponentially, and with it, the real estate market. Additional jobs, neighbourhoods, park spaces, and businesses are expected to be developed by the local municipality, supporting the city's plan to evolve and accommodate further development. New developments are being created, providing buyers with a wider range of housing options, including low-rise homes, single-family homes, townhouses, and high-rise condos. Markham is unquestionably becoming a more appealing place to live and invest, thanks to its emphasis on environmental sustainability.
According to statistics, there will be a greater demand for low-rise housing and house for sale in Markham in the coming years, especially from the increasing number of baby boomer families with children who are now in their child-rearing years. Larger units in condominium apartments, as well as low-rise homes and townhouses, will likely be impacted.
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