Toronto real estate market outlook

Living in Toronto the Toronto real estate market is a topic of conversation with almost everyone. We are attempting to keep everyone updated with developments in the city. When trying to understand the real estate market in Toronto you need to look at various factors.

Over the past few years, real estate home prices increased by 63 %, but rental prices only increased by 35 %, with most of that increase coming in the past two years. As you can see from the numbers many property owners saw an opportunity to cash in and sell their rental property. This allows some people to buy property with income because they could buy a duplex and live in one unit. Having saved up a down payment the rental income can make a difference. With rental vacancies still under one per cent, rental prices are increasing as the demand is clearly there but rent controls can limit your rental income.

Last year, the city of Toronto created a new rules allowing laneway housing, and this is great news for both homeowners, renters and investors. For homeowners, it gives them a chance to add extra income at a very low cost if they already own their home, and for renters, new rental supply on the market should help to keep prices as low as possible. For investors many homes on the market can now be viewed as duplexes since they can crate a new income stream from any new laneway suite added to the property.

Many construction companies and innovative architectural companies offer pre-fabricated options, installed over a short period for a very decent price. Architects have become very proficient at designing and building these types of homes and the whole idea of building tiny, smaller homes.

New condo developments are finally being finished but most of the units are pre-sold. One example of how the Toronto condo market is being developed is easy to see when you look at Leslieville condos for sale.

There are various projects being finished this year by companies like Daniels and their Logan condos. These building will offer newly built unit ready to move. While you have other projects like the Wonder Lofts being sold pre-construction and those units will not be ready to move into for several years.