Why you should invest in Pre-construction Condos Toronto?
Toronto condos have a world of facilities and amenities to offer to its residents. Bets of eateries, stores and supermarkets, world-class schools and universities, the beautiful Toronto waterfront, luxurious hotels, parks, excellent transit and more. Toronto Condos offers it all! Enjoy unparalleled luxury living in a New Condo Toronto. Due to its many advantages, Toronto ranks at the very top, a prestigious address that competes with the best in the world. Many superior amenities and lovely nature right at your doorstep. Having a home in Toronto is not just owning a house, it can transform your life.
Toronto real estate market is growing. New condominiums dominate the real estate market, as more and more new condo developments keep coming up. The trend is for homebuyers choosing to buy larger condo suites. Another trend is the inclusion of not only retail spaces in the condo, but also of office spaces, day care and parks. These large multi-use condominiums are expected to grow in number in the near future. Also see new pre-construction condos in Mississauga.
Average House price in Toronto –
Current Toronto MLS stats indicate an average house price of $935,817 in Toronto, as of January, 2024 across the board. Toronto average selling price stays at close to $1 million, a 4.6% drop from the previous year.
Condo prices in Toronto –
Prices of Toronto condos have dropped by 1% and now stands at 690,000 on an average. The overall real estate prices has the quarterly drop of 18.4% and a monthly drop of 12.8%. However, the price of condos studio units is at $435,000, a 1% drop. A 1-bedroom condo unit is priced at $595,000, a 2% increase. A 2-bedroom condo units have risen to $817,000, a 1% decrease. The price of 3-bedroom condos has risen by 21% to be $812,000. Overall, the drop in real estate condos in Toronto is 1%.
Townhome prices in Toronto –
Along with condominium prices, townhome prices in Toronto have also largely dropped. A 1-bedroom townhouse has seen a drop of 17%, which now stands at $526,000. One year ago, the price of a 1-bedroom townhouse was $637,000. A 2-bedroom townhouse has, however, seen a rise of 8% and now stands at $861,000 in January 2024. Cost of a 3-bedroom townhome has also seen a 9% decline and stands at $1 million. In the previous year, it was $1.1 million. A 4-bedroom townhome stands at $1.2 million, a 4% decline. Except for the prices of a 2-bedroom townhome, all other townhomes suite types have shown a decrease in prices.
Detached homes prices in Toronto –
Prices of detached homes in Toronto have also shown a slight decrease of 1%. A 2-bedroom detached home is priced at around $976,000 , showing an increase of 4% in price. A 3-bedroom detached home can be $1.3 million, a 7% increase. A 4-bedroom home can be 2 million, showing 1% decrease in prices. A 5-bedroom detached home can be priced around $2.7 million, showing a 4% decrease n prices. Overall, the prices stay at $1.5 million showing a 1% overall decrease in prices.
Real estate trend in Toronto –
Purchasing Toronto Condo for sale means being at the epicentre of a growing and dynamic real estate economy. The rate at which infrastructure and condo developments are increasing in Toronto is surprising. This, in turn, will help in growing the economy and better investments in and around the town. Residents can stay on top of this fast-paced market through strategic thinking and purchases.
- There are many upcoming condo projects in Toronto – from new high-rise condo developments, new low-rise condo developments, and townhomes – there is a wide variety of luxurious condo suites for single working professionals, families, and empty nesters.
- The Toronto condo market is the hottest in the country with an average of 4000 plus condos for sale at any given time.
- Over the past 10 years, the average price per square foot in Toronto Condo resale price per square feet has steadily risen and outperformed the TSX, making real estate a strong investment.
- With Toronto real estate & condo developments going up, this means the creation of exciting new areas of the city to check out. The condo boom has helped the city in more ways than one, with new restaurants and shops opening all the time in neighbourhoods that once didn’t have so many.
Toronto Condo Market Facts –
Toronto is expected to have the most high-rise condominiums in the world. Young single professionals between the ages of 25-35 prefer the downtown core as their desired location to live; and that’s exactly where the city’s condo developments market has exploded over the last decade. Also see new pre-construction condos in Vaughan.
– There is an abundance of new pre-constructed condos for sale in Toronto, and this will add to Toronto’s growth, competitive edge and quality of life. For those who love big cities like New York and Los Angeles but want to live in a place with less crime, Toronto is a great fit.
– Some of Toronto’s most coveted neighbourhoods are situated in or near downtown. From students and executives to cultural enthusiast and partygoers, you’ll find that everyone congregates in the vibrant transit hub. There are a plethora of residential real estate opportunities for homebuyers in the downtown area.
– The energetic city features a massive selection of residences with different styles and features, from first high-rise developments that can be traced back to the 1950s, to refurbished industrial buildings. Condos for sale in Toronto real estate typically boast luxury amenities; such as 24-hour concierge assistance, swimming pools, fully equipped gyms, sleek finishes and architecture, outdoor balconies, quartz countertops, kids play area, guest suites, lounges, outdoor terrace, and spas.
The best condos in Toronto are mainly offered at entry level prices, and the more prestigious developments may have units priced at over one million. Also see new pre-construction condos in Etobicoke.
Downtown Toronto Condos –
Downtown condos in Toronto are also highly praised for their stunning view of the waterfront and the skyline. Every day, more and more luxury condominiums are popping up in communities in downtown Toronto with higher price per square feet.
New Condo Toronto Towers boasting stunning modern architecture dominate the city skyline in the form of prestigious neighbourhoods that’s rival even the most high-end resorts and luxurious hotels. Currently, some residences that are selling, are underway or coming soon in the downtown area are Weston Park Condos, Southport Condos, Celeste Condos, The Frederick Condos, Alias Condos, King Toronto Condos, The Goode Condos, Canary House Condos, Oscar Residences, House of Assembly Condos, Nahid Kennedy, Burke Condos, MRKT Condos, QA Condos, Galleria on the Park 3, Forest Hill Private Residences, Jac Condos, Crosstown 3 Condos, XO 2 Condos, Artistry Condos, and No. 55 Mercer Condos to name a few.
Toronto is a world-class city that offers all amenities. Whether it is fine dining restaurants, top shopping centres of the world, art centres, educational institutes or transit options – Toronto tops the charts in providing its residents with it all.
Completion:2022Storeys:49Developer:Empire CommunitiesAddress:321-333 King Street West, Toronto ON M5V 1J6Added to Compare ListCompare
