Toronto Condo Market in Tough, Even as Prices Continue to Rise.

Toronto Condo Market in Tough, Even as Prices Continue to Rise.


So we've been hearing about the great condo meltdown for about 5 years now, and still nothing, waiting for the great meltdown to occur. Well doomsayers, you seem to be winning this battle, as Condo sales in the City of Toronto were down 20% last month, even as prices moved up. Although during this time we have heard some exciting news on the Condo Front, namely that one of the tallest condos ever built in the downtown core, almost 200 meters, called the INDX right near the Trump Tower sold out 100% of it's units.


The tower began excavation in February equipment is on site clearing the way for construction to begin near the financial district for those wanting to work close to where they live. There was a piece recently on reasons not to buy a Toronto condo, as the doomsayers, have been spreading their news online for some time now, but it doesn't seem that their hotair can stop the market when interest rates will be close to zero for the near future. The boom will slowdown and readjust itself, get its footing before building strenght again. Of course it will not last forever and no one suggest that it should. Just that tales of doom, are likely overblown and the Toronto condo market will prove very resilient and tough to derail even in the face of ongoing speak of doom.