Toronto Loft Conversions

Toronto Loft Conversions

I know classic brick and beam lofts! From warehouses to factories to churches, Laurin will help you find your perfect new loft.

Modern Toronto Lofts

Modern Toronto Lofts

Not just converted lofts, I can help you find the latest cool and modern space. There are tons of new urban spaces across the city.

Unique Toronto Homes

Unique Toronto Homes

More than just lofts, I can also help you find that perfect house. From the latest architectural marvel to a piece of our Victorian past, the best and most creative spaces abound.

Condos in Toronto

Condos in Toronto

I started off selling mainly condos, helping first time buyers get a foothold in the Toronto real estate market. Now working with investors and helping empty nesters find that perfect luxury suite.

Toronto Real Estate

Toronto Real Estate

For all of your Toronto real estate needs, contact Laurin. I am dedicated to helping you find that perfect and unique new home to call your own.

 

Vertical City

Toronto is Growing Up

The Toronto Real Estate Board President’s column as it appears each Friday in the Toronto Sun Resale Homes and Condos section

Torontonians are crazy for condos. Last month there were 2,361 condo sales in Toronto and the GTA, an increase of 25% from the previous July.

While sales of all housing types have been robust throughout the past couple of months, Toronto condo sales are making a stronger contribution to the big picture than ever before.

In little more than a decade, Toronto condo sales have gone from comprising a quarter of all GTA real estate transactions to accounting for almost one in every three homes that changes hands. In central Toronto condos now represent 60% of resale real estate transactions.

Toronto condos are being built all over the city

Toronto condos are being built all over the city

As a result of the Toronto condo boom the population of the downtown core grew by 10% in the last five-year census period, representing the largest five-year population increase in the core throughout the last 30 years.

And there’s more to come. According to the Canada Mortgage and Housing Corporation the seasonally adjusted annual rate of housing starts rose in the Toronto area by 10% in June from the previous month to 24,000 units. This can mainly be attributed to condominiums as multi-family developments were up 15% from the prior month.

The popularity of Toronto condominiums has skyrocketed because they appeal to people from so many different walks of life. Toronto welcomes nearly 100,000 newcomers to Canada each year from countries like India and China, where high-rise living is the norm. As such, the Toronto condo market is a natural fit.

Well-educated young adults who are on a career path also see Toronto condo living as an affordable and convenient option, given its proximity to business and city life. Indeed many from the twenty and thirty something age choose developments that reflect their personality.

Whether you’re a media buff, into retro chic or have a penchant for fine art, there’s a Toronto condo designed specifically with your needs in mind.

Empty nesters and those who purchase property around the globe are also drawn to Toronto condos, given their spectacular architecture and luxurious features.

A recent report by Urbanation substantiates their wide appeal; indicating that in the second quarter of this year Toronto new condo sales increased 223% from Q1, to 2,963 units.

Even if you’re not drawn to this housing type, our new vertical city has an economic benefit to all GTA residents.

It obviously benefits housing industry related professions, but it also has a positive impact on a number of other sectors. In fact, according to a study by the Canadian Real Estate Association, one out of every 100 jobs depends on spending associated with resale housing transactions, on things like renovations, furniture and appliances. This study also found that the average resale housing transaction in Ontario generates more than $47,000 in economic spinoffs. Even the smallest businesses benefit from condominium communities, which provide a steady stream of clientele to their ground floor shops.

New housing units also put additional funds into the City’s coffers through property taxes. And intensification offers the opportunity to improve, rather than disperse, city services like transit, waste removal and recreation facilities.

As the fifth most populous urban centre in North America behind Mexico City, New York City, Los Angeles and Chicago, Toronto is growing up, both literally and figuratively as it matures into a world-class city.

Tom Lebour is President of the Toronto Real Estate Board, a professional association that represents 28,000 Realtors in the Greater Toronto Area.

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

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