2016 Condos:
Big Picture

Growing like mushrooms Over 70,000 condominium units are now under development in Toronto. 75% of these have been pre-sold, backed by hefty deposits. The stable owner-user, not the overseas investor, is now the most common buyer. The vacancy rate is still hovering around a mere 2%. The supply, it seems, is satisfying the increasing demand.

The shoe-box trend The average size of a new Downtown condo has shrunk to 769 square feet. Approximately a third of the new inventory is comprised of suites measuring less than 600 square feet. As young professionals happily sacrifice size for location, their living spaces become more and more compact.

A food-chain effect The successful condo seller is the prime freehold property buyer. The purchase of a house for him hinges on the sale of his condo. As condos sell with ease, the strength of the condo market continues to nourish the freehold market.

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