Condo Buying in Toronto Expected to Increase in the Second Half of 2013

Condo Buying in Toronto Expected to Increase in the Second Half of 2013


As reported by the Bank of Montreal Economics Department the upward figures indicate the following, with regards to buyers intent to purchsae new condo accomodation over the next 5 years in both Toronto and Vancouver. Both cities are the most expensive cities, by far in which to purchase property, and condos go for about 300-400k in Toronto and over 600k in Vancouver, even after the slowdown in prices and sales increases. Both markets have been hot in the face of the speculation regarding a condo bubble. The condo bubble talk has persisted for close to 10 years, without prices ever dropping.




The report, conducted by Pollara, examined intentions to buy property in the next five years among homeowners in four of Canada's major city centres, and revealed:

• Toronto: One-third (31 per cent) of prospective buyers in Toronto plan to purchase a condo in the next five years, up 11 points from the fall.
• Vancouver: Intent to buy condos in Vancouver has dipped by five points, from 33 per cent in the fall to 28 per cent.

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