The Current State of Toronto's Condo Market

Keep an eye on the North--the time may be ripe for Canada to experience unprecedented growth in housing prices--particularly in the area of condominiums. The local condo market in Canada is very exciting and seemingly changing every day! What was true a year ago may be far from true now. Right now? It’s still a buyer’s market, but who knows how long this will last.

There are currently plenty of condos on the market, which can lead some to believe that this buyer’s market will last. However, people from around the world are realizing that life in Canada is very exciting and as such, more and more people are snapping up these properties for personal use or investment.

It has long been thought that the condo construction boom had to slow -- or come to a halt, and TD Bank notes that the time may have come. It notes that, since 2011, high-rise condominium construction has provided for 60% of the growth in new residential units in the entire metropolitan area, a number that compares to a market share of 28% in the year 2000.

If this is the case, prices on current stock is bound to rise. This may have developed the “perfect storm” so to speak—making it the perfect time for investors to swoop in and pick up the property.

If there is an overall message to be carried away from the current analysis, it is that the housing market continues to be unpredictable, with a recurring movement and adjustment of the various sectors. The only thing certain is that RIGHT NOW, there are bargains to be head and growth that is sure to follow.