2017 Condos:
Big Picture

Live in a golden cage Young professionals continue to sacrifice money and space for the dream of condo ownership. On average, they now have to pay over $500,000 to buy their first home. How much space do they get for that money? Well, the average new Downtown Toronto condo has shrunk to about 760 square feet. Shocking? Not really. In Hong Kong a young couple just paid about 1 million dollars for a 275 square foot apartment. Now that's shocking. Toronto prices apparently still have room to grow and Toronto condos — room to shrink.

Small fish feed the whale Now that starter condos sell for over $500,000 apiece, once two condo owners meet and form a family, they sell their flats, take on some more debt, and buy a house. At the end of the day it is the seller of the house that pockets the money from the condo boom. The right strategies for marketing a condo nowadays are different from what they were ten years ago. If you have a condo to sell this year, when you call me you will realize that I have the experience to get you the highest price.

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