Toronto City is taking on an explosion of new condos with more than 150 high-rise building, more in this section than any other in the North American region. Setting records last year with around 25k construction initiatives, over 350 active developments with around 89k total active units. The population in Toronto has crossed Chicago to become one of the top four cities in North America. Immigrants and job seekers have played a vital role in the annual growth of this city. Estimating the annual increase to around 38k, it has most new people preferring to live in downtown Toronto condos because of its proximity to work.
It is revitalizing a deteriorating aspect of the city and attracting new upscale restaurants, retail outlets, cultural and arts events along with trendy entertainment venues to the area. Such luxurious homes are drawing in a younger city crowd while bringing more money to the city as well.
The amazing Panda condos are densely populating the dead space with very active young life! Their modern open design is quite amazing, cost less and asks less maintenance compared to a typical house. Some are even being used as timeshares, construction offices and other office space. Many investors have chosen to hold as well as rent their units instead of selling them into the uncertain property market until there is an indication that the market is more stable in the sellers favor.
Investors with deep pockets are basically the key to these recent developments in this industry. Their great buying power gets developers motivated with their rewarding presales. This is a secure commodity to place investment funds with a bit stable options elsewhere. Of all the reasons mentioned, Toronto is one of the best places to opt for real estate at the moment! Vibrant, rich cities are not only affordable any place around the globe. Even though this city is not as affordable as it used to be, it does not matter. As the prevailing prices appreciate in the future and lock out several first time buyers they will have to accept renting houses from the smart investors who opted for the new condos when they could.
In midtown Toronto you can find Eglinton and yonge dundas where more and more condos are being constructed with even more amazing projects piled up in the near future. Thought it is late to be a part of the Toronto Condo party, this Midtown area is evolving from the purpose-built apartments to these high-class Toronto condos with incredible amenities like high tech gamer rooms, pools, spas, fitness centers, outdoor fire pits as well as barbeque areas.