Why the Toronto Condo Market is still Strong

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So what is really going on with the Toronto Condo Market? The only real segment that hasn't been hit by Ontario's foreign-buyer tax as hard as the low rise segment is the condo market. This has created an even bigger demand for condo's as the market experienced a cooling off period. "In this year’s second quarter, contractors were working on more homes than in any quarter in recorded history, largely due to major condo projects in Toronto". This means that supply should start to meet demand.

Toronto's market for luxury high rise rents are amongst the fastest in the world, with Toronto placing fourth due to the increase in population correlating with the demand in rental apartments. Condo pricing is also correlated to what subway station they're closest to. "If you’re looking for an affordable home in Toronto these days, you may want to check out condos in Scarborough". 


The severe shortage of supply in the GTA when it comes to low rise units is what led to to the huge price increase we experienced. This is why there hasn't been a huge increase in price for high rise units as there were for low rise, indicating that demand will continue to be strong for condos in Toronto. 







Taken from an article written by Josh Sherman from BuzzBuzzNews.http://news.buzzbuzzhome.com/2017/07/5-charts-explain-torontos-still-demand-condo-market.html

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