According to Statistics Canada, Toronto Condo developers applied for $1.2 billion worth of building permits in the Toronto area.

The 15 per cent increase from a month earlier was due to Condominium building commercial and institutional projects.

First-time buyer demand and lower interest rates that make buying a Condo similar to monthly rental costs have all helped to increase sales and price of resales and also new Toronto Condos on the market.

Only two issues might slow down the Toronto Condo projects in the next few months, higher interest rates and the impact of the new Harmonized Sales Tax.

The lure of downtown Toronto Condominium living continues and buyers prospects appear good for the next few months.