Why Condo Investing?
Chances are you have friends and family who own income properties and you have been hearing from them about how owning real estate has been a valuable investment for them.
It is a known fact that real estate is a stable and secure way to increase your net worth and Toronto’s condo market has been offering higher than average returns to first time and seasoned buyers alike.
Though there has been some speculation that the Toronto Condo market is cooling off, the Canadian Mortgage and Housing Corporation shows that over the last 15 years, the difference between residential units completed and those absorbed by the market in any given year averaged only 3%. Conversely, 97% of the units constructed in the City over this time were bought or rented and the trend will be a stable one for years to come.
Toronto continues to be an exceptionally attractive location for residential development in the GTA, especially for high-density condominium apartments. CMHC recorded a total of 62,647 residential units completed in Toronto between 2007 and 2011 and 78% of these units were condominium apartments.5 For each of these years except one, Toronto had the highest number of completions within the region.
Take a look at this infographic from Buzz Buzz Home which provides some worthwhile facts: