Analysts continue to forecast the end of the Toronto Condo Market but it continues to be unstoppable. The average price for these new Condos are going up as well and prices continue to hold.
The second quarter will see an estimated 40 new Condominium projects released with more than 9.500 units, a record according to Toronto marketing firm, Urbanation. At the end of 2010 there were 286 new Condo projects , the biggest Condo market in North America.
There is always a concern for oversupply but Condos in Toronto continue to remain attractive to buyers who want to live in an urban environment. Several high-end Condos, Ritz Carlton, Four Seasons, Trump and the Shangri-La are ready to be completed within months of each other.
The average price for new Condos in the Greater Toronto Area (GTA) was $530 per square foot and in downtown Toronto the average price for a new Condo was $723 per square foot.
Higher prices could squeeze out investors and make it difficult for first time Condo buyers to enter the Toronto market.
Pictured above: The new and exciting Festival Tower Condos, for Sale or Rent, 80 John St. Toronto.
Related:
Toronto Downtown Condos Search
Toronto Luxury Condo Prices
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