What to expect for Toronto Condos in 2012?

I think we will see a continuation of  last year with sales and average prices in single digit increases.

We still have low interest rates and just recently most Canadian Banks lowered their term interest rates to all time lows.

Immigration is still a positive influence on Condo buying in Toronto with many new immigrants already used to living in smaller apartments rather than larger homes.

A lot of my downtown Condominium clients are buying units for their children, some that are attending University and others that are just staring out on their own after graduation.

That leads me to another reason why so many buyers prefer Toronto Downtown Condos. These residents are all highly educated, professional and young, wanting the urban lifestyle. Does anyone really enjoy the horrendous commute to work downtown?

Finally, most if not all the new Toronto condo projects are pre-sold. All these new Condos going up downtown are PAID for. A lot of the general public do not realize what goes on in our Condo market.

One example of competition in all of these new Condos is Rental rates but that's for another Condos blog post.

Buying or Selling your Toronto Downtown Condo or other Toronto Real Estate? Please contact Iris Li, Remax Toronto Realtor for more information on the current market.