Wave of new Toronto condos keeps rents in check
April 15, 2015
Here’s an interesting piece from the Star on the state of Toronto’s condo rental market, based on a report from condo research firm Urbanation.
Among the highlights:
- The vacancy rate in Toronto’s core is at a low of 1.1%, despite the number of leases signed in the first quarter of 2015
- Rents are down in three Toronto submarkets, including CityPlace
- Conversely, rents are up in three Toronto submarkets
- Fourteen new purpose-build rental towers are under construction and expected to be completed next year
Anyone who’s interested in a snapshot of the Toronto rental market or considering an investment property should take a look!
Click here for the article