Toronto Luxury Condos Attracting Younger Buyers

Toronto Luxury Condos Downtown

Toronto Condos continue to increase in price and Toronto Luxury Condos are no exception.

Selling at $1,000 per square foot and with sizes of 1,800 to 4,000 square feet, final sale prices are into the millions.

Yorkville saw a record $28 million spent on a Luxury Condominium Penthouse, setting a record for Toronto and the Canada.

According to sales representatives for the various Toronto Luxury Condos, some of these wealthy Condo buyers are younger and well employed.

Of course there are still buyers downsizing from large family homes in Toronto's Rosedale and Forest Hill neighbourhoods.

These buyers from higher-end neighbourhoods are choosing Luxury Condominium suites in projects like The Shangri-La, Festival Towers and M5V, all pictured above.

Attractions for new Toronto Luxury Condos include:

• Downsizing from Luxury home
• Service from the new breed of Toronto Condo-Hotels
• Living currently in a Toronto Condo and moving to a newer, larger suite
• International buyers with business in Toronto
• Increasing interest from Mainland China buyers and South Asia
• Transfer of funds coming down from generations

Toronto Luxury Condos are still considered a bargain when compared to London, Hong Kong and other major cities in the World.

Toronto Downtown Condos search

Toronto Condos Real Estate Hotspot

Toronto Condos Downtown

A new Remax Real Estate study of residential construction and renovation over the past decade shows a doubling in the value of a Canadian Home.

The study across 16 major Real Estate markets from Toronto Condos boom to Regina's price surge are all highlighted in a recent Remax Housing Evolution report.

Toronto's skyline continues to be transformed by high-rise Condos, increasing the downtown area with high density housing.

Between 2000 and 2010 there was a increase of 212 per cent in new Toronto Condos sold. As a result Toronto is the largest Condo market in North America, with more new Condos than Mexico City, New York and Chicago.

Surprisingly there is a choice of new Condos in downtown Toronto from smaller starter home Condos for first-time buyers to a $28-million Four Seasons Residences penthouse.

Related:

Toronto Downtown Condos search