Toronto condo pricing increasing Rapidly even with a surge of new units coming onto the market. As more people choose to live downtown. This is driving rental prices up and increasing the rate of return on rental condos.
The number of condo rental leases that were signed in the Toronto area topped 5,000 for the first time during the latest quarter, coming in at 5,315, according to data to be released by research firm Urbanation on Monday. That’s up 20 per cent from 4,439 during the second quarter last year.
In contrast, the number of newly constructed condos that sold during the latest quarter fell 18 per cent from a year earlier, to 3,903, while the number of existing condos that changed hands dropped 7 per cent, to 4,689.
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