GTA realtors camp out to snap up more homes in Kitchener

It’s becoming an ongoing problem in Waterloo Region.

Out-of-town real estate agents and investors from the GTA and Toronto are snapping up local homes whenever they get a chance.

Today, the Fusion Homes Development off of Eden Oak Trail in Kitchener released 20 lots for sale.

The news of the sale broke Thursday night and by Friday morning, almost 50 people were in line outside the sales centre ready to buy.

The problem, those buyers in line aren’t local.

That’s a cause for concern especially for one man. Ronak Patel lives not too far from where he was hoping to buy a home. He tells 570 News he understands why so many GTA realtors are taking any chance they get to purchase a home here but sees no benefit to the community. “A lot of these people who are coming here aren’t interested in engaging with the community that lives here. They’re just looking to sleep here and drive into Toronto or the GTA. It’s unfortunately because I want to live here with my family and get to know my neighbours but I won’t be able to.”

Another man in line named Jagmon lives in Milton. He waited in line since Friday morning but won’t be able to get a home because Toronto realtors beat him to the punch. “I live in Milton, I have friends here from Brampton and Toronto. We’re all looking to find a cheap property here but we’re out of luck because realtors and their clients each got a lot.”

However, one local couple was able to purchase a lot at the Fusion Home Development, something they’ve been planning for, for weeks. They plan to use the space to build a single-detached home and raise a family.

Last month, the same thing happened in Cambridge. Read the story here.

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