Toronto Condo Construction Boom

The Toronto condo market is not going to crash. It is hectic, crazy, chaotic even – but it is not in any danger. We have seen some serious price increases over the past decade or so, and those rises are going to slow down. They may stop, we may see prices flatten out, even fall a touch. But, over the long term, prices will continue to move upwards. We have 16 straight years of real estate price growth in Toronto, and only 6 of the past 47 years have seen prices go down. There is no reason this trend is going to reverse.

The new condo market is booming because of a few factors. Mainly it is fueled by new arrivals to the city (100,000 people move to the GTA every year – and they all need somewhere to live), many from cities where tower living is the norm. First time buyers are priced out of the house market, so they go to condos as the affordable option. The suburban trend is over, people now want to live downtown, they want to be near work and play. Lastly, there are almost no new rental buildings being built – the rental market is now the condo market. Vacancy rates are in the 1% range, so there is huge demand for rental units.

Every crane you see means 80% of the condos have been sold already, with 20-25% paid upfront by the purchasers. Sure, there are more condos being built here than in New York City, but NYC already has 100s or 1,000s more high rise buildings than we do. We are way behind and are playing catch up.

New Condos Being Built In Liberty Village

There are now over 2,400 condos in Toronto. They stretch across the city, from the lake to north of the 401, from Scarborough to the Humber River. Most are standard condo towers, though others include condo townhouses and lofts.

Toronto condos have been almost miraculous, seeming to be immune from almost anything. Pundits have called for the collapse of the Toronto condo market since around 2003, yet it simply has not happened. More and more people want to live downtown and condos provide an affordable option. Many first-time buyers enjoy the maintenance-free lifestyle that Toronto condos offer. With 100,000 people moving to Toronto every year, there is no shortage of people needing a home.

We are here to expand your knowledge of the Toronto condo market. So much has been said in the press over the year, much more so these days. We re-print all sorts of pertinent articles here, with our comments, to help you steer through the spin and balderdash. Much has been made of very little, small data have been blown up into huge issues.

Recently, the average price per square foot for Toronto condos has stayed relatively flat at $500-550, though some new projects have come closer to $700 – with some luxury buildings over $1,000. Lower pricing, low interest rates and a pent-up demand has resulted in a heated Toronto real estate market.

Some older buildings have prices as low as $350 per square foot, though you will have to deal with dated units and high condo fees. Prime locations such as Liberty Village are in the $550-650 psf range. Waterview condos on high floors can approach $700 psf and luxury condos such as those in Yorkville are generally over $1,000 psf.

Newer condos offer better features and finishes, with granite and stainless kitchens, glass showers and engineered wood floors – but are definitely smaller. They have state-of-the art gyms, pools and tend to be much more efficient. Older condos offer larger units, at the expensive of dated kitchens, old broadloom and smaller windows. Amenities tend to be less luxurious. Condo fees are usually lower in new buildings, higher in older ones.

Below are links of some of the most popular condos in Toronto, in different neighbourhoods. Obviously there are many many more out there, but these are the ones people ask about the most.

• Annex Condos
• Bay Street Condos
• Bayview Condos
• Beaches Condos
• Davisville Condos and Summerhill Condos
• Downtown East Condos
• Downtown West Condos
• Forest Hill Condos
• High Park Condos and Bloor West Condos
• King West Condos
• Leaside Condos
• Liberty Village Condos
• Little Italy Condos
• North York Condos
• Rosedale Condos
• Waterfront Condos
• West Waterfront Condos
• Yonge and Eglinton Condos
• Yonge and Finch Condos
• Yonge and Lawrence Condos
• Yonge and Sheppard Condos
• Yonge and St. Clair Condos
• Yonge and York Mills Condos
• Yorkville Condos
• Condo Townhomes and Stacked Townhouses

The Jeffrey Team is your source for Toronto condominium services. We focus on exceptional service, providing you with everything you need – from condo MLS listings to information on condo properties in Toronto.

Toronto has Lake Shore and Harbourfront condos that offer fantastic views of Lake Ontario. These new condo buildings attract buyers from all over, who enjoy their investment in a Toronto condo. Let us help you with viewing condo listings, virtual condo tours, condo photos and more.

CityPlace Is One Of The Largest New Condo Developments

Are you looking to buy a downtown Toronto condo? The Jeffrey Team can help you research condominiums in Toronto that best suit you and your family. Check out tips for buyers as well as summaries of the condo alternatives! We work with condos for sale in Toronto every day, we can help you find what you are looking for.

Search through our inventory of hot Toronto condos, read about various Toronto communities, we have tons of information about the Toronto condo market. We are here to help you search MLS in Toronto to find condos for sale. If you are thinking of buying a condo or selling your condo, call Laurin today at 416-388-1960 or email laurin@jeffreyteam.com.

Think of this as your online portal to Toronto condominiums for sale, helping you learn more about the available condo options in Toronto. When you find a condo listing that you’d like to see in person, let us know and we will make all of the arrangements.

Our goal is to be your trusted real estate web site for Toronto condominium information, offering condo MLS listings, as well as mortgage and community information. Learn about the joy and excitement of downtown Toronto condo living.

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Contact Laurin Jeffrey for more information – 416-388-1960

Laurin Jeffrey is a Toronto Realtor with Century 21 Regal Realty. He did not
write these articles, he just reproduces them here for people who are
interested in Toronto real estate. He does not work for any builders.
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