The Toronto real estate market is fresh with opportunities, especially in the area concerning apartment units. Apartment investors are rapidly searching for beneficial condo real estate that is situated downtown, as the hunt for the perfect suburban home has shifted to more upscale condo units.
The housing market has seen a rising percentage of high-rise and mid-rise apartments in the third quarter of 2021, and it has piqued the interest of valuable investors that rival pre-pandemic times. Perhaps it is the composition of units that are changing, perhaps it’s the downtown postal codes that are injecting life into the market, but what we do know is that the downtown apartment market is truly never black and white.
Toronto real estate properties are gaining momentum and at a more accelerated rate than anyone might have anticipated. When you have a strategic condo investment strategy, you can gain better returns at a faster rate.
While the COVID-19 pandemic has slowed down much progress, it has only been a temporary slope of ups and downs. With college and university students returning to campus full-time, the demand for downtown apartments will be stable.
The Rise of the Giant Tech Companies Benefits The Price of Downtown Condominiums
Developments in the East Harbour, with the announcements of innovative tech industry giants establishing their base in Toronto (Microsoft, Netflix, Google and Uber among the high-profile titans), have propelled the demand for available rentals for those outside the immediate GTA locations. When you combine that with Toronto’s record high rental rates, a one-bedroom condo currently rents for $2,200 a month, which makes it an advantageous decision to invest in the Toronto apartment market.
The Toronto downtown condominium market has proven time after time that it is capable of producing growth, as well as being a tangible asset over time. You have to embark on the journey understanding that the core downtown condo market is a long-term arrangement; even when there is a minor drop, it will continue to climb.
Downtown Toronto is one of the best locations for property investment, especially if you are considering condominiums. The city offers plenty of things to participate in, with a diverse multicultural community that engages people of all ages. It’s easy to get drawn into the magic of Toronto, and it makes the city that much more desirable to investors.
Toronto is running out of land to build more houses, which means that investing in condominiums is the smartest way to increase your investment. The limited land means that residential properties will be scarce, driving up apartment investments through the roof.
Aside from the shrinkage of residential land, Toronto’s stable condo market is backed up by the actual need for affordable housing. Even with thousands of pre-construction buildings, Toronto does not have sufficient housing to sustain all individuals living in the downtown core.
The Downtown Toronto market is one of the most coveted in North America
There is deep stability in the Toronto residential real estate market, making the city one with one of the lowest risks in North America. It’s important to remember that condominiums also come with their own sets up regulations and clauses that the owner must abide by - there is a large comfort that can be found in this, as your investment can be protected by noble renters and buyers, and not individuals who have a less-than-stellar credit score.
If you have been considering getting into the downtown Toronto apartment market, it’s a wise decision to pair up with a partner that sees the whole picture, and not just the small details. At ReDev, we believe in the power of collective intelligence, bringing multiple perspectives and depth of expertise to the sector. We are proud of our entrepreneurial culture that fosters investment innovation, collaboration and teamwork. We take great pride in the skill and professionalism of our people where integrity is at the heart of our organization.