Drive around Toronto downtown, Yorkville, Midtown and even North York and you are likely to see a great number of new Condominiums under construction.

Many residents wonder who is going to buy these new Toronto Condos and just who is going to live in them.

An increasing number of new home buyers, are buying these luxury Toronto Condominiums.

According to the last Census in 2006, the number of owner-occupied Canadian Condominiums was 5 times greater than it was in 1981.

REMAX recently reported Toronto resale Condos one in every three homes sold, one in four for Ottawa, and almost one in five for London, Kitchener-Waterloo and Collingwood.

Toronto Downtown Condos are some of the most affordable options for first-time buyers and this type of home-ownership is really poised for increased growth in the coming years.

In fact luxury Toronto Condos priced at more than $1-million are up 49 per cent in year-over-year sales while Ottawa has seen their luxury Condos increase about 72 per cent compared to last year, according to REMAX.

Pictured above are some of the new King West Condos nearing completion.