The Toronto Condo Market is only getting Stronger!

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This year is dubbed "the year of the condo" by real estate agents across Canada, because of the strong performance in the country's major housing markets.

The condo phenomenon is something that is happening all over North America.

The performance of the GTA's top-tier condominium market eclipsed that of other major Canadian markets in both sales volume and percentage gains in 2017.
Sales of $1-million-plus condominiums were up 59 per cent year-over-year within the region, with luxury sales over $4 million up 91 per cent over the previous year.
In the City of Toronto, condo sales volumes in the $4 million-plus range rose 82 per cent and those in the $1-million-plus category were up 35 per cent year over year.
Certainly in Toronto, Vancouver and Montreal, condos are becoming a choice in terms of where people want to live. If you’re a professional and want to live close to where you work, living in the downtown region has become a lifestyle choice now and not a situation of necessity.
Condos provide things like party rooms that will allow residents to host large dinner parties and also guest suites that mean residents don't need to carry extra bedrooms as part of their home.
This gives you the ability to accommodate for your lifestyle, while also reducing your personal space requirements, if you're looking for more of a lock-and-leave kind of asset.

Source: https://www.thestar.com/business/2018/01/10/year-of-the-condo-dominates-2017-toronto-luxury-market.htm

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