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Suite on Toronto Real Estate

As property markets continue to reel from the American sub-prime mortgage crisis, one housing market is still booming and shows no sign of slowing down. The Canadian condo boom is in full-swing. Sale prices Toronto have soared by 15.7 per cent since last year, according to Royal Le Page Real Estate Services, with the average price for a condo now clocking in at $241,818.

Because Canadian banks do not loan as aggressively as those in other markets, and, in fact are very conservative in their lending practices, we are not experiencing the kind of default issues that are occurring in other markets. The quite restrictive lending practices result in a market that is also quite stable.

Fuelled by steady population growth (more than 50,000 people move to the city each year) and laws preventing urban sprawl, Toronto's downtown condo market is flourishing. Feeding the high-end market are second-home buyers and foreign investors. Most renters of means rent condominiums from investor buyers, as indicated in a survey published by Canada Mortgage and Housing last month showing that in Toronto the vacancy rates are lower in the most expensive buildings.

An increasing desire to live in the city rather then suburbia means that the rental market is also flourishing.

The recently completed Wellington on the Park is located steps from the vibrant, bustling area of King Street West. The development overlooks a large green city park and is a short stroll from Lake Ontario. It is also just a few minutes from the financial heart of city and the country and on the doorstep of Liberty Village - a regenerated residential community, filled with galleries, cafes, shops and restaurants.

A little further up town is the Mosaic. Located in one of Toronto's most established and desirable residential areas The Annex, this property promises to be an idyllic development. It is within walking distance of some of Toronto's key attractions including the Royal Ontario Museum, the Royal Conservatory of Music, and the famous Yorkville district bursting with boutiques, outdoor markets and restaurants.

As Toronto continues to grow, real estate prices will continue to spiral upwards along with the condos, making for a very attractive investment opportunity in one the most culturally diverse and exciting cities in North America.

October 31, 2007 in Buying Toronto Real Estate | Permalink

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Comments

Hello


I just wanted to introduce myself and tell you about this exciting new condo being built in Puerto Vallarta, Mexico. They are near a mountain top, and the best part is if you and I sell one, we will split 6% of the total. These sell in the range of 400,000-800,000 and are 70% sold. There will be a phase two that will start next year. We will also be renting them out for the owners.

Please take a look at the link, and let me know if interested.
I can send you a booklet if you want, and I have a picture of the actual construction site.

I was just there a few weeks ago and the views are awesome.

Thank you for your time.

Sherry Starkey
[email protected]
720-323-7088

CASTLESANDCONDOS.COM.MX
Copy and paste to your browser

Posted by: Sherry Starkey | Nov 1, 2007 5:17:24 PM

Hi, I love how you are running this blog. I just started a blog of my own and I was wondering if you would like to do a link exchange with my site. My site can be found at:

Absolutesportsreport.blogspot.com

If you want to do this, just leave a comment on my site, on any post, and I’ll link you later that night.

Thanks,
Dave

Posted by: David | Nov 1, 2007 4:47:13 PM

I am glad you have mentioned The Annex, one of the most beautiful and sought after neighborhood in Toronto. This residential area is worth a visit, if you are looking for a home or just want to see something beautiful.

Posted by: Toronto realtor | Oct 31, 2007 1:38:52 PM

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