Friday, 16 May 2014

Toronto Condo Market Showing No Signs of Bubble

The Toronto downtown condo market continues to drive forward, with higher rents and migration to the core driving prices. The downtown are has seen a surge in sales and construction as fears of a market meltdown have subsided. The investors that have jumped into the market are seeking above average returns. 

Condos which have seen the most interest include the Aura, Massey Tower, YC Condos at Yonge and College. These condos located in the retail and commercial heart of the city offer direct access to the main downtown subway lines as well as amenities including shopping at the Eaton Centre. Some condos along Bay Street such as U Condos and 1000 bay have also seen excellent condo sales during this time.

In the uptown area, E Condos has begun demolition of the existing buildings at the corner of Yonge and Eglinton at the Northeastern side. The condo which is being developed by Bazis , and Plaza corp will be the tallest condo in midtown standing at 194 meters tall.

In North York, Hullmark Centre and Emerald Park Condo are moving into the final stages of construction. Hullmark has begun renting some units in the first completed tower while the second tower has already topped out.

In Etobicoke, Eau du Soliel seems set to begin construction shortly as approvals have been granted and we could see equipment on the site by July. This tower which at 216 meters will be the tallest condo built in suburban Canada ever.

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