For Toronto and the GTA, the past five years have seen seismic shifts in the local economy &mdash; including a (seemingly) never-ending boom in real estate. Now with the intensity of the last couple of years just out of view, we can turn our focus to the next five. So let&rsquo;s look at what shifts are currently taking place, and where the market might be headed in the near future.<h2>How did we get here in the first place?</h2>In order to paint the future real estate picture, it&rsquo;s crucial to understand how we even got here in the first place. Since 2016, an increase in population has been one of the most significant impacts on property price hikes. Between interprovincial, interregional and international migrations &mdash; Toronto has seen <a href="https://www.ryerson.ca/centre-urban-research-land-development/blog/blogentry35/" target="_blank" rel="nofollow">unprecedented population growth</a>, all while the construction of new dwellings have failed to keep pace.Between 2016 and 2021, rapid growth at historically low interest rates and an increase in foreign investment kick-started an upward trajectory for the Canadian real estate market. Only a year later, the latter was soon counteracted by Ontario&rsquo;s Non-Resident Speculation Tax (NRST) &mdash; a 15% charge on non-citizens in a move that slowed foreign investment. But ultimately, it had little effect on the impending housing boom. (The provincial government recently increased the NRST to 20% and expanded it provincewide.)Of course, what began as an easier playing field for citizens (i.e. 5% down on a first home) became drastically more difficult when the Canadian Mortgage and Housing Corporation introduced their &lsquo;Stress Test&rsquo; in January 2018. This forced buyers to prove they could afford a much higher mortgage rate increase than in years prior, leaving many first-time buyers out of the running, and creating a frenzy for those who just made the cut.While these moves may have levelled the playing field for a time, most proved largely insignificant in the wake of the pandemic in early 2020.<h2>Oh right, the pandemic&hellip;</h2>The trends borne out of the pandemic, including the advent of &lsquo;work from home&rsquo;, the need for more space (think garage gyms) or increased amenities for condo living, pushed an already accelerating market over the top.This shift has encouraged people to purchase everything from larger detached homes on the outskirts of the GTA to more centralized <a href="https://strata.ca/toronto/downtown/condos-for-sale" target="_blank">condos in the downtown core</a>, driving up housing costs (literally) everywhere.Now, as the pandemic winds down and with the recent announcement of a new set of rules set out by the <a href="https://www.cbc.ca/news/politics/liberal-ndp-accord-confidence-supply-agreement-1.6397985" target="_blank" rel="nofollow">Liberal-NDP partnership</a> &mdash; local real estate professionals are predicting a number of positive changes.<h2>New policies announced for real estate</h2>&ldquo;The Liberal-NDP coalition will result in new government policies 100 per cent,&rdquo; says <a href="https://strata.ca" target="_blank">Strata.ca</a> realtor Daniel Forte. &ldquo;These will be policies that should speed up housing development to meet demand, and remove barriers to allow more people to enter the market.&rdquo;Some of those policies include:<ul><li>Extending the rapid housing initiative for an additional year</li><li>Aiming to commit all funds as quickly as possible to ensure housing is available within 12 months of agreements, unless otherwise agreed upon</li><li>The Housing Accelerator Fund that will help municipalities build housing more quickly</li><li>A &lsquo;Homebuyers Bill of Rights&rsquo; by the end of 2023</li></ul><h2>Will these new regulations impact property flipping?</h2>While the full effect of these new measures remains to be seen &mdash; when it comes to the growing popularity of the house flip, Forte also says that &ldquo;only recently have people been using real estate as a two to four year investment tool.&rdquo; While it began largely with the housing market, he expects that this type of investment will shift to condos.In particular, Forte says, &ldquo;condos with reasonable fees and parking will be the properties that offer the biggest return on investment in the next five years.&rdquo;<h2>Where to? Here are the neighbourhoods to look at next</h2>With the outlook holding steady for growth and investment, the question on everyone&rsquo;s minds is: Where is demand going next?Osman Omaid is another real estate professional at Strata.ca, who believes specific condo types will yield the highest return on investment.&ldquo;A reasonably priced one bedroom or one bedroom plus den in up-and-coming neighbourhoods will offer great appreciation between 2025 and 2030,&rdquo; he explains.Some of Omaid&rsquo;s suggestions include:<ul><li>One bedroom condos in <a href="https://strata.ca/toronto/downtown/regent-park/condos-for-sale" target="_blank">Regent Park</a></li><li>One bedroom + dens in <a href="https://strata.ca/toronto/north-york/flemingdon-park/condos-for-sale" target="_blank">Flemingdon Park</a></li></ul>Both neighbourhoods are flourishing in terms of new builds or added amenities currently under construction. In fact, Flemingdon Park Station is being built as part of a new transit project called The Ontario Line &mdash; which is expected to increase overall property values in the surrounding area.In terms of the best property to purchase for that kind of gain? Forte recommends a detached home in a desirable area with frontage.&ldquo;This is generally considered the best and most desired property,&rdquo; he says. &ldquo;And its long-term value will not only hold but also increase, especially when it hits the 10-year milestone.&rdquo;

Where is Toronto’s Real Estate Market Headed Over the Next Five Years?

Over the past decade, the homebuying process has undergone a massive transformation. Before online platforms like Strata.ca became popular, people spent hours scouring newspapers for real estate listings. They then spent even more time checking out each home in person, without a clear idea as to whether that home even met their search criteria in the first place.But today&rsquo;s technology has made it so much easier to decide whether you want to spend the time visiting an actual property. That&rsquo;s because you can better visualize a home&rsquo;s potential with virtual staging.Virtual staging takes an empty space, then transforms it into one that&rsquo;s inviting enough for buyers to want to visit. Stagers will do this by using software to insert &lsquo;imaginary&rsquo; furniture and decor. This technique can also be used to enhance rooms that are already furnished.Whether you&rsquo;re interested in a virtually staged property, or you&rsquo;re a seller looking to market your home in this way &ndash; let&rsquo;s explore the pros and cons of this innovative modern technique.<h2>Benefits of Virtual Staging</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/133/virtualFurnitureTile01-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/133/virtualFurnitureTile01.jpeg"/><img src="https://strata.ca/slate-image/article-images/133/virtualFurnitureTile01.jpeg" alt="Before and after virtual staging"/></picture>Photo courtesy: BoxBrownie.com<h3>Chance to visualize</h3>When looking at a property online, most potential buyers aren&rsquo;t interested in the current owner&rsquo;s furniture and design taste. They find it much more helpful to visualize what they themselves could do with the space.That&rsquo;s why virtual staging can come in handy, but only if done right.&ldquo;I&rsquo;ve seen some disastrous attempts where it actually took away from the property&rsquo;s potential,&rdquo; says Strata.ca realtor Milan Mitrovic, who adds that virtual staging must offer a good balance.&ldquo;This technique is most effective when it showcases a beautiful aesthetic, while still allowing a buyer the freedom to imagine themselves living there.&rdquo;<h3>The technology has come a long way</h3>Today&rsquo;s virtual staging software has the ability to create very realistic images. Usually the only giveaway is a lack of shadows, which you&rsquo;d otherwise see in a traditional photograph. But very few people notice this anyways.Although DIYers might be keen on virtual staging apps to market their home, it&rsquo;s better to find someone who specializes in this. A DIY effort may end up looking like a cut-and-paste collage made in Microsoft Paint. Meanwhile, professional stagers will use programs like Autodesk, Adobe Photoshop or Adobe Lightroom to create a polished masterpiece.<h3>Less invasive</h3>Traditional staging can involve clearing out an entire room, so other furniture and decor can be brought in. This also means homeowners are forced to put their belongings in storage, which is an added expense.Virtual staging may only require a bit of decluttering. Or at the most, you may need to remove just a few large items so the stager can fill that space digitally. On the other hand, if you&rsquo;re selling a vacant unit &ndash; you can avoid having to fill that space with rented furniture.<h3>Allows for flexibility</h3>If you&rsquo;re a seller and your real estate agent thinks the nursery could be marketed better as a home office &ndash; virtual staging will allow you to switch up a room&rsquo;s overall purpose. By removing a few physical items, such as the crib or wall decals, it&rsquo;s quite easy to replace those with furniture and decor typically found in a home office.<h2>Drawbacks of Virtual Staging</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/133/virtualFurnitureTile05-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/133/virtualFurnitureTile05.jpeg"/><img src="https://strata.ca/slate-image/article-images/133/virtualFurnitureTile05.jpeg" alt="Before and after virtual staging"/></picture>Photo courtesy: BoxBrownie.com<h3>Can be a letdown for buyers</h3>Although there are benefits to virtual staging, one of the main drawbacks is that it can mislead buyers.When agents bring a potential buyer to see the property in person, it could feel like a major letdown. Although many listings will explicitly state that a home has been &lsquo;virtually enhanced&rsquo;, there are some that don&rsquo;t.In this case, buyers may be disheartened to show up at a home only to find an empty box. Or worse yet &ndash; a space that is so outdated that it&rsquo;s nearly impossible to picture themselves living there.&ldquo;I once took a client to see a <a href="https://strata.ca/toronto/midtown/condos-for-sale" target="_blank">Midtown condo for sale</a> at <a href="https://strata.ca/toronto/60-berwick-ave-191-229-duplex-ave-the-berwick-condos" target="_blank">The Berwick Condos</a>, and it was the polar opposite of what was portrayed in the online photos,&rdquo; says Mitrovic, who doesn&rsquo;t believe the unit actually sold in the end.&ldquo;The difference between the virtual staging and the reality was so stark that I think it really threw buyers off.&rdquo;<h3>May get pricey</h3>As mentioned earlier, virtual staging is not recommended for DIYers. It really should be done by a professional. But that also means it could get expensive.Virtual stagers usually have expertise in digital artistry as well as interior design. It&rsquo;s a mix of these qualifications that will ensure the final product appears authentic and tasteful.One of the goals is to entice buyers to come see the property in person, after viewing the virtually-enhanced photos online. If you&rsquo;re a seller, it may be wise to spend the extra money and hire a professional to market your home properly.<h3>Cannot be used on its own</h3>Unlike traditional staging, people cannot rely solely on virtual staging to make decisions about a property.This means that if you&rsquo;re a seller &ndash; you might consider providing an additional set of photos showing what the space does look like. This way, you&rsquo;re conveying transparency in your listing &ndash; minimizing the letdown some buyers may feel when viewing the home in person.And if you&rsquo;re a buyer &ndash; understand the limitations of virtual staging. This is just one tool that sellers use to market a property. Ask your realtor if the seller has provided unstaged photos or if there&rsquo;s a floor plan available. Any additional information will provide context, and can help temper your expectations before seeing the place in person.

Everything You Need to Know About Virtual Staging

Scraping together a down payment can be a monumental task, even in the best of markets. So considering the cost of GTA real estate these days, it&rsquo;s understandable why so many homebuyers are feeling squeezed at every turn. That&rsquo;s why some are turning to mom and dad for financial help. But that also means they have to listen to their parents give a ton of real estate &lsquo;advice&rsquo; in the process.<a href="https://strata.ca" target="_blank">Strata.ca</a> realtors say it&rsquo;s more common these days to see parents tagging along on their clients&rsquo; property showings. There are times though when mom and dad don&rsquo;t actually know best. Here, two of our top agents share some of the worst real estate tips they&rsquo;ve heard from well-meaning parents this past year.<h2>Terrible Advice #1: Just wait it out until you find the &lsquo;perfect&rsquo; place</h2>Sam Massoudi, an agent at Strata.ca, had a client who missed out on a condo he absolutely loved because his parents simply thought the unit was &lsquo;not in good shape&rsquo;. In fact, the unit was fairly new and built by one of the best developers in Toronto. Only thing was the place had been rented out to a tenant who left a lot of scuff marks on the walls.&ldquo;I tried explaining to my client and his parents that they must see through that,&rdquo; says Massoudi. &ldquo;It was a small one-bedroom so painting wouldn&rsquo;t cost much, especially if it meant securing a place that checked all the boxes.&rdquo;But due to parental pressure, his client ended up sacrificing that unit. And their search went on for two more months until they found another condo.&ldquo;Sure, he saved $1,500 on painting, but the market was up by another 2 per cent by this time,&rdquo; according to Massoudi, who adds that this resulted in them paying an extra $11,000 overall.<h2>Terrible Advice #2: Put in low-ball offers</h2>Some parents will tell their home-hunting children to repeatedly put in what are known as &lsquo;low-ball&rsquo; offers, until someone finally accepts their ridiculously cheap bid. After all, who doesn&rsquo;t want to save money?For those unfamiliar &mdash; low-balling is a technique used by homebuyers to purchase a property for much less than fair market value for the property, and well below the seller&rsquo;s asking price. Oftentimes, the strategy ends up backfiring and the buyer walks away having deeply offended the seller. Understandably, the seller doesn&rsquo;t often want to entertain any subsequent offers from the same buyer, as they&rsquo;re perceived to be acting in bad faith.&quot;Parents who tell their kids to use this strategy are not understanding how competitive this market is,&rdquo; says Strata.ca realtor Jenelle Tremblett, who notes there are buyers who will gladly pay top dollar for a property in the GTA. &ldquo;Follow the lead of your realtor as they know the pulse of competition, and can properly advise if low-balling is even worth your time.&rdquo;The reality is that most sellers would first opt for a smaller price reduction and see how the market responds, before outright accepting a dramatically lower offer price.<h2>Terrible Advice #3: Buy your &lsquo;forever&rsquo; home</h2>Your first home doesn&rsquo;t have to be the place you retire in. But many parents will pressure their adult children to find their &lsquo;forever&rsquo; home to avoid the annoyances of moving again.&ldquo;But the problem with this advice is that it&rsquo;s not even realistic in places like the GTA where property values are already so expensive,&rdquo; according to Massoudi.This is why many agents advise first-time homebuyers to begin in a modest home they can comfortably afford. Over the next several years, you can gather some equity before moving on to another property that suits your next life stage.<h2>Terrible Advice #4: Use the listing agent to represent you</h2>The sole purpose of the listing agent is to represent the best interests of the seller. But according to Tremblett, we hear parents tell their children to use that same realtor as a way to save money.This piece of advice though just doesn&rsquo;t add up. In real estate transactions, it&rsquo;s the seller&rsquo;s obligation to pay the commissions for both their agent and the buyer&rsquo;s. So if you&rsquo;re not the one paying, why not get your own realtor? As well, the listing agent&rsquo;s interest is to squeeze as much money out of the buyer as possible, in an effort to represent the seller well and earn repeat business down the road.&ldquo;The seller&rsquo;s agent represents the seller, so they don&rsquo;t owe you anything in the negotiations,&rdquo; Tremblett explains. &ldquo;Everyone deserves their own representation, which is why you need to get someone in your corner if you don&rsquo;t want to overpay.&rdquo;<h2>So, do parents really know best?</h2>Let&rsquo;s face it &ndash; there are some instances where parents don&rsquo;t actually know best. And when it comes to real estate, let&rsquo;s not forget many of them bought their first home some 30 years ago during a completely different economy.But it&rsquo;s not uncommon for parents to still want to be involved in every step of their child&rsquo;s homebuying journey because they want to protect their kids. And as Sam Massoudi puts it, &ldquo;Some parents are also co-signing on these mortgages, so they may feel they have final say.&ldquo;Even though parents may have bought and sold a home back in the day, &ldquo;the truth is many of them remain disconnected from today&rsquo;s market and how things work,&rdquo; Massoudi adds.Tremblett agrees, and hopes parents will begin to realize that today&rsquo;s housing landscape is quite different from the 80s and 90s.

Family Matters: The Terrible Home Buying Advice We Hear From Parents

One of the perks of living in a condo are the amenities. From an indoor pool to round-the-clock concierge, there are certain comforts that come standard in most buildings. And as a wave of new condos continues to spill into the GTA, it&rsquo;s no surprise that developers would try to out-do each other in terms of what they offer.But what about those amenities the average pool of residents never asked for? These tend to be perks that are underused, and let&rsquo;s face it &mdash; sometimes overrated. And most notably, at the cost to owners via their maintenance fees.Our team asked <a href="https://strata.ca" target="_blank">Strata.ca</a> realtors what they think are the amenities that add the least value. Some of their answers may surprise you!<h2>Library</h2>&lsquo;Uncomfortable chairs, random books&rsquo;<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/126/ed-robertson-eeSdJfLfx1A-unsplash-650-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/126/ed-robertson-eeSdJfLfx1A-unsplash-650.jpg"/><img src="https://strata.ca/slate-image/article-images/126/ed-robertson-eeSdJfLfx1A-unsplash-650.jpg" alt="Library books"/></picture>We&rsquo;ve been told our entire lives that reading is good for the soul. So why is the condo library on this list?Realtors say this kind of amenity is good in theory, but it&rsquo;s always empty. Like, always.&ldquo;It&rsquo;s usually a beautifully decorated room with uncomfortable chairs and random books shoved into an old-timey bookcase,&rdquo; says <a href="https://strata.ca" target="_blank">Strata.ca</a> agent, Osman Omaid. &ldquo;One time I saw a Hunger Games novel with half the spine chewed up.&rdquo;Libraries may have been popular before e-books and podcasts came along. But in today&rsquo;s tech-focused society, it appears people would rather do other things than sit in their condo library. Or maybe they&rsquo;re going to actual libraries.<h2>Golf Simulator Room</h2>&lsquo;A hockey net would be more suitable'<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/126/00_golf_simulator-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/126/00_golf_simulator.jpeg"/><img src="https://strata.ca/slate-image/article-images/126/00_golf_simulator.jpeg" alt="Golf SImulator"/></picture>By far this one was mentioned over and over by our agents. The golf simulator room is perhaps one of the most underused amenities, right up there with the condo library.When compared to basketball or tennis courts, &ldquo;it&rsquo;s just not that dynamic,&rdquo; says Strata realtor Cyrus Ghazvini. &ldquo;I imagine a golf simulator machine is expensive to replace or fix if broken, so why not find a better use of funds and space?&rdquo;And as fellow agent Alex Hood puts it, &ldquo;This is Canada, so a hockey net would be more suitable.&rdquo;<h2>Tennis Court</h2>Depends on the crowd...and COVID?<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/126/tim-chow-iiWhddT4SB4-unsplash-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/126/tim-chow-iiWhddT4SB4-unsplash.jpg"/><img src="https://strata.ca/slate-image/article-images/126/tim-chow-iiWhddT4SB4-unsplash.jpg" alt="Tennis Court"/></picture>&ldquo;I&rsquo;ve had clients who were obsessed with the idea of having a tennis court, but they&rsquo;re definitely underused,&rdquo; says Francisco Hiebert, real estate agent at Strata.ca.This is an amenity that got mixed reviews from realtors. A few agents swear the tennis courts they&rsquo;ve seen are disheveled and empty. But others say courts are often booked 24/7.&ldquo;Some buildings love it, but it really depends on the crowd,&rdquo; says Strata.ca realtor, Gilda Motamed, who notes that during the pandemic, most other amenities were closed.&ldquo;At the <a href="https://strata.ca/toronto/103-the-queensway-nxt-condos" target="_blank">NXT Condos</a>, for example, the courts have been booked from morning to night during COVID.&rdquo;Fellow realtor Sam Massoudi agrees, saying &ldquo;I&rsquo;m at NXT every Friday playing as a guest visitor, and it&rsquo;s pretty busy, especially in summer months.&rdquo;<h2>Pet Spa &amp; Dogwashing Room</h2>General consensus: Makes no difference<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/126/00_pet_wash_Station-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/126/00_pet_wash_Station.jpeg"/><img src="https://strata.ca/slate-image/article-images/126/00_pet_wash_Station.jpeg" alt="Pet Wash Station"/></picture>Condos with pet spas and dog washing facilities are often located near dog parks, so they can attract a certain type of resident. <a href="https://strata.ca/toronto/3018-yonge-st-3018-yonge-condos" target="_blank">3018 Yonge Street</a> in <a href="https://strata.ca/toronto/midtown/condos-for-sale" target="_blank">Midtown</a> and the <a href="https://strata.ca/toronto/121-mcmahon-dr-125-131-mcmahon-dr-tango-condos" target="_blank">Tango Condos</a> in <a href="https://strata.ca/toronto/north-york/bayview-village/condos-for-sale" target="_blank">Bayview Village</a> both offer perks for pets. But our agents agree that unless you&rsquo;re a pet owner, amenities for animals don&rsquo;t make much of a difference.<h2>Swimming Pool</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/126/00_condo_pool-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/126/00_condo_pool.jpeg"/><img src="https://strata.ca/slate-image/article-images/126/00_condo_pool.jpeg" alt="8 York Condo Pool"/></picture>You often see swimming pools in older condos. But these days, how often do you see residents swimming and lounging poolside?Not that this is a scientific observation, but there&rsquo;s actually a heated pool in my mother&rsquo;s building, and every time I walk by it&rsquo;s sitting empty. The only action you&rsquo;ll ever see is the steam emanating from it.Pools are among the most expensive amenities to maintain. These funds could almost certainly be put to better use.<h2>BBQ</h2>&lsquo;A new generation of people aren&rsquo;t cooking&rsquo;<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/126/00_rooftop_bbq-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/126/00_rooftop_bbq.jpeg"/><img src="https://strata.ca/slate-image/article-images/126/00_rooftop_bbq.jpeg" alt="Rooftop BBQ"/></picture>Here&rsquo;s an amenity we didn&rsquo;t expect to see on this list. But it appears the communal BBQ may not be as widely used in some condos.According to Strata realtor Larry Medina, whose own condo board did some research on amenities, the BBQ was rarely used.&ldquo;I was shocked, but when we looked at the booking rates, they were nearly non-existent,&rdquo; he says. &ldquo;I think it&rsquo;s because a new generation of people aren&rsquo;t cooking as much as, say, our parents used to.&rdquo;

'Golf Simulator Room?!' Real Estate Agents Share Most Underused (and Overrated) Condo Amenities

With the average price of a <a href="https://strata.ca/toronto/condos-for-sale" target="_blank">Toronto condo for sale</a> sitting at $760,000, it&rsquo;s understandable why any homebuyer would want to make the most out of every dollar spent. Buying into a condominium means assessing not just the individual unit, but also looking at the inherent value of the building as a whole. After all, its reputation can also impact the resale price when it&rsquo;s time to recoup your return on investment.One of the most effective ways to gauge the quality of a building is to see how it ranks in terms of &lsquo;value&rsquo;. In other words, which condominiums offer homebuyers the most rewarding combination of cost and quality?<a href="https://strata.ca" target="_blank">Strata.ca</a> houses over a decade of aggregated data on every condo in the GTA. And that data allows our team to isolate which properties offer the best value. The highest-ranking condos share two distinct attributes in relation to the neighbourhood average:<ul><li>Most affordable cost per square foot (PSF)</li><li>Most affordable maintenance fees</li></ul><h2>Maintenance fees a big driver of value</h2>Currently, the average cost PSF for a Toronto condo is $887. But simply looking at buildings with the cheapest units for sale is not enough to assess if that property offers the best value.Since maintenance fees are a big part of monthly carrying costs, any value calculation must be weighed against this expense. And that weight isn&rsquo;t always tied to a dollar amount.That&rsquo;s why Strata.ca realtor Daniel Forte does not necessarily advise buyers to only consider buildings with the lowest fees. He warns there&rsquo;s more to it, especially when assessing properties from a value perspective. After all, if the condo is not collecting enough money or using a low-fee model, it may not have the resources for a major repair.&ldquo;In this case, the condo board may ask each owner for a lump sum payment known as a &lsquo;special assessment&rsquo; to complete the work,&rdquo; says Forte, who notes that this will directly impact a building&rsquo;s value calculation.&ldquo;Multiple special assessments will raise alarm to a prospective buyer down the line, as will low fees that are consistently increased above the normal market rate.&rdquo;&ldquo;The bottom line with maintenance fees is that you usually get what you pay for,&rdquo; says another Strata.ca agent, Taryn Mooradian.&ldquo;But it really depends on the buyers&rsquo; needs and priorities...since having designer landscaping, for example, may not matter to some as it would to others.&rdquo;Mooradian points out though that properties with the best value ranking tend to be condo townhomes because &ldquo;there&rsquo;s no elevator, swimming pool or concierge service to maintain.&rdquo;&ldquo;Regardless, a pleasant community experience is still worth investing in since this also adds &lsquo;value&rsquo; by improving quality of life,&rdquo; she says.Many agents tend to agree.&ldquo;It&rsquo;s equally important to find a condo that suits your lifestyle,&rdquo; says Forte.&ldquo;All those intangibles, like location, balcony exposure and the pride of owning in a desirable building...these are also things that many of us tend to value.&rdquo;Here are the top 10 condos that rank the highest, based on the cost to buy-in and maintenance fees. The figures in parentheses reflect the neighbourhood average.1. <a href="https://strata.ca/toronto/1-82-hargrave-ln-2102-2166-bayview-ave-canterbury-lawrence-park-townhomes" target="_blank">1-82 Hargrave Lane &amp; 2102-2166 Bayview Ave</a> | Lawrence Park, Midtown<ul><li>Cost: $736 psf (vs. $951)</li><li>Maintenance Fee: 25&cent; psf (vs. 72&cent;)</li></ul>View more <a href="https://strata.ca/toronto/midtown/lawrence-park/condos-for-sale" target="_blank">Lawrence Park condos for sale.</a><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/125/00_ canterbury-lawrence-park-townhomes-1-82-hargrave-ln-2102-2166-bayview-ave-1200-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/125/00_ canterbury-lawrence-park-townhomes-1-82-hargrave-ln-2102-2166-bayview-ave-1200.jpeg"/><img src="https://strata.ca/slate-image/article-images/125/00_ canterbury-lawrence-park-townhomes-1-82-hargrave-ln-2102-2166-bayview-ave-1200.jpeg" alt="Canterbury Lawrence Park Townhomes"/></picture>2. <a href="https://strata.ca/toronto/42-60-curzon-st-townhouses-on-curzon" target="_blank">42-60 Curzon St</a> | Leslieville-South Riverdale<ul><li>Cost: $704 (vs. $982)</li><li>Maintenance Fee: 27&cent; psf (vs. 63&cent;)</li></ul>View more <a href="https://strata.ca/toronto/east-end/leslieville-south-riverdale/condos-for-sale" target="_blank">Leslieville-South Riverdale condos for sale.</a><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/125/00_42_60_curzon_st-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/125/00_42_60_curzon_st.jpeg"/><img src="https://strata.ca/slate-image/article-images/125/00_42_60_curzon_st.jpeg" alt="Townhouses on Curzon"/></picture>3. <a href="https://strata.ca/toronto/97-101-the-queensway-8-windermere-ave-107-119-the-queensway-windermere-by-the-lake-townhomes" target="_blank">97-101 The Queensway</a> | High Park-Swansea, West End<ul><li>Cost: $672 psf (vs. $861)</li><li>Maintenance Fee: 23&cent; psf (vs. 80&cent;)</li></ul>View more <a href="https://strata.ca/toronto/west-end/high-park-swansea/condos-for-sale" target="_blank">High Park-Swansea condos for sale.</a><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/125/00_118TheQueensway_Windermere_by_the_Lake_Townhomes_ExteriorFacade-1200-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/125/00_118TheQueensway_Windermere_by_the_Lake_Townhomes_ExteriorFacade-1200.jpeg"/><img src="https://strata.ca/slate-image/article-images/125/00_118TheQueensway_Windermere_by_the_Lake_Townhomes_ExteriorFacade-1200.jpeg" alt="Windermere by the lake Townhomes"/></picture>4. <a href="https://strata.ca/toronto/11-everson-dr-carriage-homes-of-avondale-phase-one" target="_blank">11 Everson Dr</a> | Willowdale, North York<ul><li>Cost: $657 psf (vs. $826)</li><li>Maintenance Fee: 26&cent; psf (68&cent;)</li></ul>View more <a href="https://strata.ca/toronto/north-york/condos-for-sale" target="_blank">North York condos for sale.</a><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/125/00_11_everson_dr-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/125/00_11_everson_dr.jpeg"/><img src="https://strata.ca/slate-image/article-images/125/00_11_everson_dr.jpeg" alt="Carriage Homes of Avondale"/></picture>5. <a href="https://strata.ca/toronto/1-121-mondeo-dr-mondeo-townhomes" target="_blank">1-121 Mondeo Dr</a> | Dorset Park, Scarborough<ul><li>Cost: $492 psf (vs. $540)</li><li>Maintenance Fee: 22&cent; psf (vs. 60&cent;)</li></ul>View more <a href="https://strata.ca/toronto/scarborough/condos-for-sale" target="_blank">Scarborough condos for sale.</a><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/125/00_ mondeo-townhomes-1-121-mondeo-dr-1200-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/125/00_ mondeo-townhomes-1-121-mondeo-dr-1200.jpeg"/><img src="https://strata.ca/slate-image/article-images/125/00_ mondeo-townhomes-1-121-mondeo-dr-1200.jpeg" alt="Mondeo Townhomes"/></picture>6. <a href="https://strata.ca/toronto/242-262-john-garland-blvd-john-garland-townhomes" target="_blank">242-262 John Garland Blvd</a> | Rexdale, Etobicoke<ul><li>Cost: $409 psf (vs. $528)</li><li>Maintenance Fee: 39&cent; psf (vs. 57&cent;)</li></ul>View more <a href="https://strata.ca/toronto/etobicoke/condos-for-sale" target="_blank">Etobicoke condos for sale.</a><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/125/ 00_254_John_Garland_Blvd -600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/125/ 00_254_John_Garland_Blvd .jpeg"/><img src="https://strata.ca/slate-image/article-images/125/ 00_254_John_Garland_Blvd .jpeg" alt="John Garland Townhomes"/></picture>7. <a href="https://strata.ca/toronto/26-30-livingston-rd-guildwood-townhomes" target="_blank">Guildwood Townhomes</a> | Scarborough Village-Guildwood, Scarborough<ul><li>Cost: $379 psf (vs. $486)</li><li>Maintenance Fee: 30&cent; psf (vs. 61&cent;)</li></ul>View more <a href="https://strata.ca/toronto/scarborough/scarborough-village-guildwood/condos-for-sale" target="_blank">Scarborough Village-Guildwood condos for sale.</a><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/125/00_26_Livingston_Rd-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/125/00_26_Livingston_Rd.jpeg"/><img src="https://strata.ca/slate-image/article-images/125/00_26_Livingston_Rd.jpeg" alt="Guildwood Townhomes"/></picture>8. <a href="https://strata.ca/toronto/188-bonis-ave-tam-oshanter-casitas" target="_blank">188 Bonis Ave</a> | Tam O'Shanter, Scarborough<ul><li>Cost: $368 psf (vs. $559)</li><li>Maintenance Fee: 47&cent; psf (vs. 55&cent;)</li></ul>View more <a href="https://strata.ca/toronto/scarborough/condos-for-sale" target="_blank">Scarborough condos for sale.</a><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/125/00_New_Tam_OShanter_Casitas_188_Bonis_Ave-1200-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/125/00_New_Tam_OShanter_Casitas_188_Bonis_Ave-1200.jpeg"/><img src="https://strata.ca/slate-image/article-images/125/00_New_Tam_OShanter_Casitas_188_Bonis_Ave-1200.jpeg" alt="Tam O&rsquo;Shanter Casitas"/></picture>9. <a href="https://strata.ca/toronto/1-reidmount-ave-sheppard-point-condos" target="_blank">1 Reidmount Ave</a> | Agincourt, Scarborough<ul><li>Cost: $346 psf (vs. $610)</li><li>Maintenance Fee: 55&cent; psf (vs. 57&cent;)</li></ul>View more <a href="https://strata.ca/toronto/scarborough/agincourt/condos-for-sale" target="_blank">Agincourt condos for sale.</a><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/125/00_1_Reidmount_Ave-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/125/00_1_Reidmount_Ave.jpeg"/><img src="https://strata.ca/slate-image/article-images/125/00_1_Reidmount_Ave.jpeg" alt="Sheppard Point Condos"/></picture>10. <a href="https://strata.ca/toronto/45-silverstone-dr-45-silverstone-drive-condos" target="_blank">45 Silverstone Dr</a> | Rexdale, Etobicoke<ul><li>Cost: $298 psf (vs. $528)</li><li>Maintenance Fee: 41&cent; psf (vs. 57&cent;)</li></ul>View more <a href="https://strata.ca/toronto/etobicoke/rexdale-west-humber-clairville/condos-for-sale" target="_blank">Rexdale condos for sale.</a><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/125/00_45_Silverstone_Dr-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/125/00_45_Silverstone_Dr.jpeg"/><img src="https://strata.ca/slate-image/article-images/125/00_45_Silverstone_Dr.jpeg" alt="45 Silverstone Drive Condos"/></picture>

'Best Value' Report: Toronto’s Top 10 Condos That Give You the Most for Your Dollar

If the COVID-19 pandemic has taught us anything, it&rsquo;s that many of us are realizing the need for more space. Whether it&rsquo;s an extra room for that home office or a sudden desire for your own backyard &mdash; a lot of homebuyers are making square footage their biggest priority.But with surging property values across Toronto, it may be difficult to afford all that extra space. And if it&rsquo;s not feasible to buy a roomier home in the suburbs, then a condo townhouse within city limits may be the perfect choice.Last month in Toronto, the average townhome sold for about $640 per square foot (PSF) or roughly $730,000. And with people now craving more space, townhouses have become even more attractive.&ldquo;Townhomes provide at least some separation of space between work and personal life, since many of them are spread out over two or three floors,&rdquo; says <a href="https://strata.ca" target="_blank">Strata.ca</a> realtor Galina Sheveleva.She also adds that high-rise condos have been at somewhat of a disadvantage during the pandemic as residents struggle to maintain personal space, while making their way up to individual units.&ldquo;Add to that an older set of slow elevators or an elevator that&rsquo;s not in service, and you&rsquo;re spending what feels like half your life waiting to get up to your place.&rdquo;<h2>Condo Townhome vs. Freehold</h2>According to agents, the biggest reason why buyers choose to purchase a condo townhome over a freehold townhome is the price difference. Sheveleva points out that in Toronto, the gap in average price between the two is about $367,000, which is quite significant.&ldquo;Another reason for choosing condo townhouses is the lower level of upkeep on the property, since all the common elements and exteriors are maintained by the condominium corporation,&rdquo; she adds.If you&rsquo;re convinced a condo townhome may be the way to go &mdash; then check out the cheapest neighbourhoods below, plus some of the properties you can find there!<h2>Scarborough Village-Guildwood</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/121/Guildwood_neighbourhood-650-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/121/Guildwood_neighbourhood-650.jpeg"/><img src="https://strata.ca/slate-image/article-images/121/Guildwood_neighbourhood-650.jpeg" alt="Guildwood Neighbourhood photo"/></picture><h3>Average price: $565,000 ($436 PSF)</h3>Stretching along Scarborough&rsquo;s beautiful waterfront, the neighbourhood of <a href="https://strata.ca/toronto/scarborough/scarborough-village-guildwood/condos-for-sale" target="_blank">Scarborough Village-Guildwood</a> will often land you the best bang for your dollar. With some of the lowest townhome prices in Toronto, this area offers a quieter lifestyle surrounded by nature &mdash; without having to leave the city.<a href="https://strata.ca/toronto/scarborough-golf-club-road-condos-44-78-scarborough-golf-club-rd-50-scarborough-golf-clu-rd-91-muir-dr/unit-92-e5357270" target="_blank">91 Muir Drive, Unit 92</a> | 3 beds, 2 bath | Asking price: $549,900<a href="https://strata.ca/toronto/scarborough-golf-club-road-condos-44-78-scarborough-golf-club-rd-50-scarborough-golf-clu-rd-91-muir-dr/unit-26-e5351240" target="_blank">91 Muir Drive, Unit 26</a> | 3 beds, 2 bath | Asking price: $629,900<a href="https://strata.ca/toronto/scarborough-golf-club-road-condos-44-78-scarborough-golf-club-rd-50-scarborough-golf-clu-rd-91-muir-dr/unit-133-e5353145" target="_blank">50 Scarborough Golf Club Rd, Unit 133</a> | 3 beds, 2 bath | Asking price: $499,900<h2>York University Heights</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/121/York_University_TTC-650-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/121/York_University_TTC-650.jpeg"/><img src="https://strata.ca/slate-image/article-images/121/York_University_TTC-650.jpeg" alt="York University TTC Station"/></picture><h3>Average price: $591,500 ($510 PSF)</h3>This family-friendly neighbourhood also encompasses the main campus at York University. Sometimes referred to as Northwood Park, <a href="https://strata.ca/toronto/north-york/york-university-heights/condos-for-sale" target="_blank">York University Heights</a> is a large multicultural area with lots of greenspace and recreational facilities. Residents love the easy access to popular shopping centres like Yorkgate Mall, while younger families enjoy regular outings to <a href="https://blackcreek.ca/?utm_medium" target="_blank" rel="nofollow">Black Creek Pioneer Village</a>.<a href="https://strata.ca/toronto/four-winds-condos-21-37-four-winds-dr/unit--20-w5366691" target="_blank">37 Four Winds Drive, Unit 20</a> | 3 beds, 2 bath | Asking price: $649,900<a href="https://strata.ca/toronto/four-winds-condos-21-37-four-winds-dr/unit-40-w5332648" target="_blank">37 Four Winds Drive, Unit 40</a> | 2+1 beds, 2 bath | Asking price: $655,000<h2>Mount Dennis</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/121/Mount_Dennis-650-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/121/Mount_Dennis-650.jpeg"/><img src="https://strata.ca/slate-image/article-images/121/Mount_Dennis-650.jpeg" alt="Mount Dennis community photo"/></picture><h3>Average price: $641,000 ($530 PSF)</h3><a href="https://strata.ca/toronto/york-crosstown/mount-dennis/condos-for-sale" target="_blank">Mount Dennis</a> is about to get much more accessible, thanks to the new <a href="https://strata.ca/blog/condo-values-explode-along-eglinton-crosstown-lrt-by-up-to-135" target="_blank">Eglinton Crosstown LRT</a>. Located along Eglinton Avenue between the Humber River and Kitchener GO line, residents can easily access Highway 401 with a quick journey up Black Creek Drive. Aside from its close proximity to major shopping districts, the area is also known for its vast greenspaces at Fergy Brown and Gladhurst parks.<a href="https://strata.ca/toronto/sidney-belsey-crescent-townhomes-50-74-sidney-belsey-cres/unit-103-w5366129" target="_blank">54 Sydney Belsey Cres, Unit 103</a> | 3 beds, 2 bath | Asking Price: $499,900<a href="https://strata.ca/toronto/sidney-belsey-crescent-townhomes-50-74-sidney-belsey-cres/unit-204-w5362647" target="_blank">56 Sydney Belsey Cres, Unit 204</a> | 3 beds, 2 bath | Asking Price: $670,000<h2>Westminster-Branson</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/121/Westminster_Toronto_ON_Canada-650-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/121/Westminster_Toronto_ON_Canada-650.jpeg"/><img src="https://strata.ca/slate-image/article-images/121/Westminster_Toronto_ON_Canada-650.jpeg" alt="Westminster-Branson neighbourhood"/></picture><h3>Average price: $708,000 ($549 PSF)</h3>Traditionally popular with immigrants from the former Soviet Union&rsquo;s Jewish minority, this North York neighbourhood has become increasingly more diversified over the past few years. <a href="https://strata.ca/toronto/north-york/westminster-branson/condos-for-sale" target="_blank">Westminster-Branson</a> envelopes the eastern portion of G. Ross Lord Park and the northern tip of the West Don Parkland. Conveniently located at Bathurst and Finch, residents have easy access to major arteries like Highway 407 and The Allen.<h2>Jane and Finch</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/121/200-mclevin-avenue-JaneFinch-650-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/121/200-mclevin-avenue-JaneFinch-650.jpeg"/><img src="https://strata.ca/slate-image/article-images/121/200-mclevin-avenue-JaneFinch-650.jpeg" alt="Jane Finch townhome development"/></picture><h3>Average price: $510,000 ($380 PSF)</h3>Although it may have some of the lowest condo prices in the city, <a href="https://strata.ca/toronto/north-york/jane-and-finch/condos-for-sale" target="_blank">Jane and Finch</a> also boasts one of the <a href="https://strata.ca/blog/jane-and-finch-rexdale-malvern-have-torontos-highest-condo-appreciation-rates-outpacing-downtown-core-by-nearly-20-report" target="_blank">highest appreciation rates</a> in Toronto. Located in the city&rsquo;s northwest corner, the area is easily accessible to various parts of the GTA due its close proximity to Highway 400.also boasts one of the highest appreciation rates in Toronto. Located in the city&rsquo;s northwest corner, the area is easily accessible to various parts of the GTA due its close proximity to Highway 400. is a high-density neighbourhood with a good mix of freeholds and high-rises. But still, there are many townhomes on the market well below the city&rsquo;s average.<a href="https://strata.ca/toronto/gosford-boulevard-townhomes-1-27-gosford-blvd/unit-9-w5357452" target="_blank">21 Gosford Blvd, Unit 9</a> | 2+1 beds, 2 baths | Asking price: $599,900<a href="https://strata.ca/toronto/12-28-london-green-townhomes-71-87-driftwood-ave-12-28-london-green-crt/unit-25-w5352015" target="_blank">75 Driftwood Ave, Unit 25</a> | 3 beds, 2 bath | Asking price: $699,000<a href="https://strata.ca/toronto/2901-jane-st-townhomes-2901-jane-st/unit-115-w5347970" target="_blank">2901 Jane Street, Unit 115</a> | 3 beds, 2 bath | Asking price: $599,000

Cheapest Neighbourhoods in Toronto Right Now to Buy a Townhome

<h3>Most condo owners don&rsquo;t believe this could even be a possibility, say Strata.ca realtors</h3>After mounting pressure from doctors, infectious disease specialists and several business groups &mdash; Ontarians will now have to show proof of COVID-19 vaccination to enter a number of indoor settings, including restaurants, gyms, theatres and sporting events. As part of a two-stage rollout, the provincial policy goes into effect on September 22 with a digital &lsquo;verification app&rsquo; to follow a month later.Although Ontario premier Doug Ford has insisted the measure is meant to be temporary, some experts believe many sectors could find the courage to implement vaccine mandates of their own. One such area is the real estate industry, especially for condominiums and the use of shared amenities.In light of Ontario&rsquo;s announcement, <a href="https://strata.ca" target="_blank">Strata.ca</a> realtors share their insights following months of interaction with condo owners during the global pandemic. It appears many residents are unaware that condominium boards may be able to enforce such requirements. But a prominent condo litigation lawyer says this new province-wide system could encourage them to follow suit.<h2>&lsquo;Most people don&rsquo;t think this is even a possibility&rsquo;</h2>Whether it&rsquo;s due to &ldquo;personal human rights or medical secrecy laws&rdquo;, Strata.ca agent Nathaniel Hartree-Hallifax says he hasn&rsquo;t come across any condo residents who are worried about immunization requirements potentially coming to their building.Larry Medina is another realtor at Strata.ca. No one has ever talked to him about this, either.&ldquo;However, clients do ask if I know what percentage of residents are fully vaccinated in a building we&rsquo;re viewing,&rdquo; he says. &ldquo;Obviously, I don&rsquo;t have the answer to this.&rdquo;Although broker Cliff Liu admits none of his clients have ever expressed concern about vaccine mandates, he has noticed that condo residents are still very cautious about getting too close to others.&ldquo;I&rsquo;m in and out of buildings all the time, and I see that the stairwells get a lot more traffic than the elevators,&rdquo; says Liu. &ldquo;Residents seem respectful of each other&rsquo;s space, even without a vaccine policy in place.&rdquo;<h2>Lawyer: Ontario&rsquo;s vaccine certificate makes rules easier to implement</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/120/danielle-cerullo-CQfNt66ttZM-unsplash-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/120/danielle-cerullo-CQfNt66ttZM-unsplash.jpg"/><img src="https://strata.ca/slate-image/article-images/120/danielle-cerullo-CQfNt66ttZM-unsplash.jpg" alt="Fitness Gym"/></picture>The lack of a provincial passport system has kept strata boards from enforcing vaccination mandates of their own, according to condo litigation lawyer Bradley Chaplick. Authorities had been struggling with the issue of how to easily confirm someone&rsquo;s immunization status while limiting incursions on privacy.&ldquo;A vaccine passport now solves that problem, making the rules easier to implement,&rdquo; Chaplick says. &ldquo;This could also open the door for local municipalities to enforce their own policies requiring condos to limit amenities to vaccinated people only.&rdquo;Chaplick points out that Ontario saw this kind of scenario play out last year with masking mandates, which began at the local level before they were eventually adopted province-wide.As condo boards continue to scrutinize resident safety in an ongoing pandemic, some homeowners may question which common areas would be off limits to the unvaccinated.&ldquo;We&rsquo;re talking about access to &lsquo;non-essential&rsquo; common areas only, primarily the amenities,&rdquo; explains Chaplick, &ldquo;such as a swimming pool or gym. We&rsquo;re not talking about common areas necessary to access individual suites, like lobbies and elevators.&rdquo;A vaccine policy, he says, could apply to any area that is used by more than one household simultaneously. But guest suites, used by one party at a time, probably wouldn&rsquo;t need restrictions because the &ldquo;potential danger to other people is not the same.&rdquo;Requiring proof of immunization to access amenities will certainly elicit some &ldquo;unhappy campers&rdquo;, says Liu. &ldquo;But this type of rule could improve the perception of a building that&rsquo;s trying to show it really cares about resident safety.&rdquo;<h2>&lsquo;Changing societal norms make a difference&rsquo; in court of law</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/120/dan-newman-DnATKk5tGns-unsplash-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/120/dan-newman-DnATKk5tGns-unsplash.jpg"/><img src="https://strata.ca/slate-image/article-images/120/dan-newman-DnATKk5tGns-unsplash.jpg" alt="Toronto Nathan Philip Square"/></picture>According to a recent <a href="https://www.ipsos.com/en-ca/news-polls/majority-of-canadians-support-vaccination-mandates" target="_blank" rel="nofollow">Ipsos poll</a>, 72% of Canadians agree with mandatory vaccinations to curb the spread of variants. Chaplick believes this seemingly broad societal acceptance will hold weight in a court of law.&ldquo;Changing societal norms make a difference in what a court will accept as &lsquo;reasonable&rsquo;&rdquo;, he says.When it comes to restricting what residents and visitors can do in a condominium, law states that the rules must be &lsquo;reasonable&rsquo; and must be for a proper purpose, such as promoting safety or preventing interference with others.&ldquo;In the absence of a proper rule, the residents have a presumptive right to use these amenities,&rdquo; says Chaplick.<h2>Unvaccinated Ontarians likely not looking for a condo, say realtors</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/120/marcos-paulo-prado-_PY5UHNERmE-unsplash-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/120/marcos-paulo-prado-_PY5UHNERmE-unsplash.jpg"/><img src="https://strata.ca/slate-image/article-images/120/marcos-paulo-prado-_PY5UHNERmE-unsplash.jpg" alt="Toronto Waterfront Condos"/></picture>Whether or not condo boards follow suit with vaccine requirements, Hartree-Hallifax believes it would have little impact on a building&rsquo;s overall resale value.&ldquo;In my experience, those who are not vaccinated want their private space in a very literal sense,&rdquo; he says. &ldquo;So for those who can afford it, this compact condominium lifestyle and sharing of amenities is not their ideal situation anyways.&rdquo;Strata.ca realtor Francisco Hiebert agrees, based on <a href="https://covid19tracker.ca/provincevac.html?p" target="_blank" rel="nofollow">immunization data</a> that shows 67% of eligible Ontarians have had at least one dose of a COVID-19 vaccine.&ldquo;All these people likely wouldn&rsquo;t have an issue buying into a condo with vaccine mandates, so resale value won&rsquo;t be impacted,&rdquo; he says. &ldquo;Prices are typically set by recent comparable units sold...not on whether people can use certain amenities.&rdquo;But some agents argue it&rsquo;s those exact amenities that residents are banking on when buying into a property.&ldquo;Whenever a building has rules on anything people want or use, the resale value is always affected,&rdquo; says Medina, who points out what happens when a condo board restricts pets. The rule ends up creating a smaller buyer pool, and he believes the same principle would apply when making vaccines mandatory for the pool or gym.&ldquo;But should enough buildings adopt this policy&rdquo;, Medina adds, &ldquo;it would ultimately become a moot point.&rdquo;For Strata.ca agent Osman Omaid, realtors must remain sensitive to everyone&rsquo;s personal choices, no matter how vaccine policies end up playing out.&ldquo;Some may only look for condos with this mandate, and some may turn away from a building only because of it,&rdquo; he says. &ldquo;It'll just be another point to go over when talking about a property...sort of like walk scores or nearest transit.&rdquo;For journalists: If you&rsquo;d like more information on this report or would like to receive future news releases, please send your requests to media(at)strata.ca.

Ontario’s Vaccine Passport: Could It Come to a Condo Near You?

<h3>Only one Toronto building makes Top 10; best investments are outside city limits</h3>For the first time in six months, Toronto condominiums no longer dominate Strata.ca&rsquo;s list of properties with the highest appreciation rates. If the latest data is any indication, it appears that condos outside the city are offering much higher returns on investment.Properties in Oshawa and Burlington appeared multiple times in the Top 10, which also included condos in Hamilton and Whitby. But a luxury building in Yorkville was the only Toronto property to make the list.&quot;This may simply reaffirm what many of us have known all along,&quot; says Robert Van Rhijn, Broker of Record at Strata.ca. &ldquo;Homebuyers are increasingly looking outside city limits for affordability, and the data is finally starting to reflect that trend.&rdquo;In Toronto, condos are selling on average for about $895 per square foot compared to just $647 in Burlington and $505 in Oshawa.&ldquo;By looking outside the city, you&rsquo;re buying into a market at much cheaper prices with the potential to earn back that investment at a much quicker pace,&rdquo; explains Van Rhijn.<h2>Top 10 Highest Appreciating Condos in the GTA</h2>Here are the properties that have appreciated the most in the past 12 months:1) Burlington | <a href="https://strata.ca/burlington/lakepoint-condos-2190-lakeshore-rd" target="_blank">Lakepoint Condos</a> | 2190 Lakeshore Rd | +53%2) Toronto | <a href="https://strata.ca/toronto/pears-on-the-avenue-condos-127-135-pears-ave-170-avenue-rd" target="_blank">Pears on the Avenue Condos</a> | 127-135 Pears Ave | +41%3) Burlington | <a href="https://strata.ca/burlington/vibe-condos-5020-corporate-dr-5030-corporate-dr-5010-corporate-dr" target="_blank">Vibe Condos</a> | 5030, 5010, 5020 Corporate Dr | +40%4) Oshawa | <a href="https://strata.ca/oshawa/wentworth-gardens-townhomes-401-wentworth-st-w" target="_blank">Wentworth Gardens Townhomes</a> | 401 Wentworth St W | +39%5) Hamilton | <a href="https://strata.ca/hamilton/262-kenora-townhomes-250-262-kenora-ave" target="_blank">Kenora Townhomes</a> | 250-262 Kenora Ave | +37%6) Whitby | <a href="https://strata.ca/whitby/sprucedale-palisades-townhomes-1-118-sprucedale-way-10-34-palisades-crt" target="_blank">Sprucedale &amp; Palisades Townhomes</a> | 1-118 Sprucedale Way, 10-34 Palisades Crt | +37%7) Mississauga | <a href="https://strata.ca/mississauga/4171-glen-erin-drive-townhomes-4171-glen-erin-dr" target="_blank">Glen Erin Drive Townhomes</a> | 4171 Glen Erin Dr | +37%8) Oshawa | <a href="https://strata.ca/oshawa/1010-glen-street-townhomes-1010-glen-st" target="_blank">Glen Street Townhomes</a> | 1010 Glen St | +36%9) Oshawa | <a href="https://strata.ca/oshawa/222-pearson-street-townhomes-222-pearson-st" target="_blank">Pearson Street Townhomes</a> | 222 Pearson St | +36%10) Oshawa | <a href="https://strata.ca/oshawa/540-dorchester-townhomes-540-dorchester-dr" target="_blank">Dorchester Drive Townhomes</a> | 540 Dorchester Dr | +34%<h2>Glass ceiling of affordability</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/119/touann-gatouillat-vergos-LuhkyeebiMs-unsplash-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/119/touann-gatouillat-vergos-LuhkyeebiMs-unsplash.jpg"/><img src="https://strata.ca/slate-image/article-images/119/touann-gatouillat-vergos-LuhkyeebiMs-unsplash.jpg" alt="Gloomy Toronto at Harbourfront"/></picture>The latest appreciation data simply illustrates the spillover effect from Toronto&rsquo;s red hot housing market where the average price of a condo is just over $720,000, according to Nathaniel Hartree-Hallifax, a realtor at Strata.ca. When it comes to buying something decent in Toronto, a lot of people have &ldquo;psychologically written that off&rdquo;, as he puts it. &ldquo;So they&rsquo;re moving around to places outside the city that they can afford.&rdquo;Strata.ca broker Cliff Liu caters to a wide demographic of buyers, including baby boomers in Toronto&rsquo;s outskirts. He thinks this group may be fuelling those soaring appreciation rates as well.&ldquo;Many seniors are cashing out on their suburban homes, and choosing to downsize in these same neighbourhoods,&rdquo; says Liu. &ldquo;So they&rsquo;re also adding to the demand, driving up values even faster in these areas.&rdquo;Hartree-Halliax notes the famous slogan that &ldquo;a rising tide lifts all boats&rdquo; to illustrate the impact of Toronto&rsquo;s rising prices on the wider region.&ldquo;Even still, properties outside the city have so much more room to appreciate,&rdquo; he explains. &ldquo;Whereas condos in Toronto have already hit that glass ceiling of affordability.&rdquo;For journalists: If you&rsquo;d like more information on this report or would like to receive future news releases, please send your requests to media(at)strata.ca.

Toronto Condos No Longer Dominate GTA’s Highest Appreciating Properties

The COVID-19 pandemic undoubtedly did a number on Toronto&rsquo;s downtown condo market as it ignited an exodus and a drop in property values. Office workers, no longer tethered to their cubicles, fled further out in search of more space. And that&rsquo;s when the price of single family homes and cottages surged while downtown condo values plunged.For over a year, people have been wondering if remote working is the new normal. And thus, will Toronto&rsquo;s downtown ever be the same again? But according to data from <a href="https://strata.ca" target="_blank">Strata.ca</a>, overall condo values here are back on track to hit pre-pandemic levels; although not all neighbourhoods are showing increases.<h2>Financial District Up, &lsquo;Trendier&rsquo; Areas Down</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/118/ryan-stefan-RGoTYMBrU3w-unsplash-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/118/ryan-stefan-RGoTYMBrU3w-unsplash.jpg"/><img src="https://strata.ca/slate-image/article-images/118/ryan-stefan-RGoTYMBrU3w-unsplash.jpg" alt="Toronto Financial District"/></picture>In July, the average cost per square foot (PSF) of a downtown condo hit $1,088 -- higher than numbers seen in May and June, and $88 more PSF than this year&rsquo;s January low. But as health restrictions ease and workplaces reopen their offices, it appears some downtown neighbourhoods are seeing gains while others are showing losses.The Bay Street Corridor, for example, saw a bump in July with condos selling for about $1,200 PSF or roughly $780,000. Just a couple of weeks into August, prices here are already skyrocketing with the average unit selling for $893,000 for an increase of $113,000.&ldquo;A lot of young professionals are heading back to the office a few days per week, so it&rsquo;s understandable that demand is up,&rdquo; said Francisco Hiebert, a real estate agent at <a href="https://strata.ca" target="_blank">Strata.ca</a>.Although typically known as Canada&rsquo;s financial hub, the Bay Street Corridor also attracts a huge student population that attends nearby universities such as Ryerson and U of T. And according to Robert Van Rhijn, Broker of Record at Strata.ca, these students may be driving up prices as well.&ldquo;There are lots of students from wealthy families who opt to buy instead of rent,&rdquo; he said. &ldquo;So that&rsquo;s also contributing to some of the bidding wars in this area.&rdquo;But that bump hasn&rsquo;t applied to all neighbourhoods.King West, Queen West, The Village and Distillery District actually saw a decrease in average condo prices in July. Pre-pandemic, these neighbourhoods were famous for their restaurants, bars and nightclubs. And of course, the hip young people that frequented them.&ldquo;Party neighbourhoods like King and Queen West are still sitting at March levels with The Village at its lowest since January,&rdquo; said Van Rhijn.Geographically, these areas also circle the downtown core. And that suggests rising prices downtown may be a central core phenomenon.&ldquo;When we looked at all the data on a map, the neighbourhoods with an uptick in sales activity had a higher concentration of workspaces,&rdquo; said Van Rhijn. &ldquo;The writing&rsquo;s on the wall as people face the reality that they&rsquo;ll eventually have to return to the office.&rdquo;So that begs the question -- are people returning downtown to work, but not to play?&ldquo;Rental demand is still strong in areas known for their entertainment value, but buyers don&rsquo;t seem to be flocking here as much,&rdquo; says Hiebert, who admits it&rsquo;s too early to pinpoint why there&rsquo;s such a disparity right now among downtown neighbourhoods.For journalists: If you&rsquo;d like more information on this report or would like to receive future news releases, please send your requests to media(at)strata.ca.

All Work & No Play: Downtown Condo Values Up, But Not in "Party Neighbourhoods"

Amidst a city-wide condo market struggling to regain traction against the backdrop of the COVID-19 pandemic, one area of Toronto is reporting a rise in prices as condo values remain largely stagnant in the rest of the city.In North York, one-bedroom units have seen four consecutive months of price increases. In March, the average sale price for this unit type was $503,000. By the end of July, it had gone up to $528,000 for an increase of $25,000 in just a few months alone. Two-bedroom units also became more expensive, hitting a yearly high in July; North York homebuyers paid $698,400, an increase of over $45,000 since March.The growing desirability of the North York market has also resulted in properties selling for well over asking. In July, one-bedrooms sold for 3.32 per cent above list price, a stark contrast from the beginning of the year when they were selling below.<h2>Willowdale is North York&rsquo;s hottest pocket</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/117/Willowdale_Toronto_atmosphere-640-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/117/Willowdale_Toronto_atmosphere-640.jpeg"/><img src="https://strata.ca/slate-image/article-images/117/Willowdale_Toronto_atmosphere-640.jpeg" alt="Willowdale Toronto day time "/></picture>North York&rsquo;s most active neighbourhood is currently Willowdale, an area close to both the DVP and 401. It also includes the major arterial road of Yonge Street, stops along both the Yonge and Sheppard subway lines, plus easy access to the popular Fairview Mall. The area is already home to many condominiums with more to come, due to the city&rsquo;s policy of densification around existing mass transit.Those purchasing a one-bedroom in Willowdale last month paid on average about $60,000 more compared to June. But oddly, the price of a two-bedroom went down in July by about $20,000, despite being up for the year as a whole.According to <a href="https://strata.ca" target="_blank">Strata.ca</a> broker Cliff Liu, a prime selling point for North York in general is that it offers all the amenities of urban life. Yet it still has the benefit of being viewed as a &lsquo;cheaper alternative&rsquo; to more central neighbourhoods.&ldquo;Many of the people buying in North York right now are first time homebuyers as it&rsquo;s a bit more ideal as an entry point. It&rsquo;s also an area where downsizers can pick up a retirement home, but still find all the conveniences of the city.&rdquo;<h2>Condo values remain stagnant in rest of Toronto</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/117/sandro-schuh-6wVqCeK030Y-unsplash-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/117/sandro-schuh-6wVqCeK030Y-unsplash.jpg"/><img src="https://strata.ca/slate-image/article-images/117/sandro-schuh-6wVqCeK030Y-unsplash.jpg" alt="Toronto CN view from park bench"/></picture>As North York property values continue their upward trajectory, <a href="https://strata.ca" target="_blank">Strata.ca</a> data shows property values in surrounding areas have remained relatively unchanged.In downtown Toronto, for example, average condo prices have hovered at about $790,000 since April. And in midtown, condo values there have actually plunged by nearly $150,000 since April&rsquo;s peak of $1,026,083.Toronto continues to grapple with a work-from-home trend that has sent people, now no longer tethered to a set geographical location, looking further out for more space. Meanwhile, new Airbnb rules and closed borders have also dried up short-term rentals.Robert Van Rhijn, Broker of Record at <a href="https://strata.ca" target="_blank">Strata.ca</a>, believes these factors are contributing to stagnant condo prices across the city.&ldquo;July numbers are in, and the average sale price of a condo in Toronto last month was $712,046. That&rsquo;s just a $350 increase compared to June.&rdquo;Still though, homebuyers paid roughly 2 per cent over asking price for both one and two-bedroom units in July, despite an overall cooldown in bidding wars across the city.For journalists: If you&rsquo;d like more information on this report or would like to receive future news releases, please send your requests to media(at)strata.ca.

Is North York Now the Hottest Condo Market in Toronto? 

When you think of Pickering, a casino resort, luxury hotel and flashy entertainment venues probably don&rsquo;t come to mind. But if all goes according to plan, the city is about to undergo a radical transformation that may leave it unrecognizable.Developers have been working on a 240-acre district known as <a href="http://dlive.ca/" target="_blank" rel="nofollow">Durham Live</a>, meant to create Pickering&rsquo;s definition of a downtown core. While most residents have traditionally made the trip to Toronto&rsquo;s downtown for work and entertainment, the hope is that this glimmering mixed-use space will brand Pickering as a destination of its own.But much like Pickering&rsquo;s ambitious development plans, its real estate market has seen a renaissance of its own. <a href="https://strata.ca" target="_blank">Strata.ca</a> data shows the eastern city is showing signs of a rebirth; one marked by surging property values and electrifying anticipation of what Pickering could become.Since the start of last summer, condo values here have soared. The average cost per square foot (PSF) went from $440 in June 2020 to $614 currently for an increase of about 40%. On average, a Pickering condo will cost you around $599,000, up from $489,000 a little over a year ago. Despite this increase though, the city is still cheaper than Toronto, which has an average condo price of $726,000.<h2>All comes down to a numbers game</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/116/scott-graham-5fNmWej4tAA-unsplash-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/116/scott-graham-5fNmWej4tAA-unsplash.jpg"/><img src="https://strata.ca/slate-image/article-images/116/scott-graham-5fNmWej4tAA-unsplash.jpg" alt="Investing paperwork with laptop"/></picture>Pickering is one of the top places in the GTA that&rsquo;s best positioned to give you the best return on your investment, according to Strata.ca&rsquo;s Broker of Record, Robert Van Rhijn. For potential homebuyers, he says it all comes down to a numbers game that just makes sense.&ldquo;You&rsquo;re getting in on a housing market that&rsquo;s about 17% cheaper than Toronto&rsquo;s. And yet, Pickering condo owners have seen gains more than double that in just 12 to 13 months alone.&rdquo;Although Strata.ca data shows bidding wars in the GTA have largely <a href="https://strata.ca/blog/toronto-condo-sales-down-in-april-prices-plateau-amid-buyer-fatigue" target="_blank">cooled since April</a>, homebuyers in Pickering have been consistently paying more than 6% above the list price for the past four months. Compare that to Toronto, where people are paying just 2% over the list price, on average.Cliff Liu, a broker at Strata.ca, says it&rsquo;s not hard to understand why Pickering is hotter than Toronto in some respects.&ldquo;My clients see Pickering as a good middle-ground. Compared to other suburban neighbourhoods, it&rsquo;s a pretty short drive or train ride to Toronto&rsquo;s downtown. It&rsquo;s one of the reasons Pickering has enjoyed healthy real estate values over the past 10 to 15 years.&rdquo;<h2>Closing in on Oshawa</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/116/Pickering_waterfront-600.jpeg " media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/116/Pickering_waterfront.jpeg "/><img src="https://strata.ca/slate-image/article-images/116/Pickering_waterfront.jpeg " alt="Pickering Frenchmen's Bay Marina"/></picture>You could say the nearby city of <a href="https://strata.ca/blog/oshawa-condos-rise-in-value-by-nearly-50;-officially-becomes-gtas-hottest-market" target="_blank">Oshawa</a> has become one of the biggest breakout characters in the drama of the COVID-19 pandemic. Since June last year, it has seen condos surge in value by 48% with little signs of slowing down. But Pickering, largely living in the shadows of Oshawa&rsquo;s red-hot ascent, is quietly closing in on its neighbour.Since the start of last summer in June 2020, the two cities have been leading Durham in terms of highest appreciation rates.&ldquo;Whitby and Ajax have been trailing behind at 29% and 17% respectively. But still, the Durham Region as a whole has proven to be a solid investment for homebuyers looking to escape Toronto,&rdquo; says Van Rhijn.<h2>Durham Townhomes Dominate List of Highest-Ranking Properties</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/116/00_Atria_Oshawa-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/116/00_Atria_Oshawa.jpeg"/><img src="https://strata.ca/slate-image/article-images/116/00_Atria_Oshawa.jpeg" alt="Oshawa Atria Condo"/></picture>Liu says he was recently examining data within Strata.ca&rsquo;s condo ranking reports for an investor client interested in Pickering and its surrounding areas.&ldquo;I was specifically looking for GTA condos that had seen the greatest value increases in the past 12 months. Out of 20 properties, I was surprised to see seven of them were actually in Durham.&rdquo;Interestingly, the highest appreciating properties were townhome complexes, most of them built in the 1970s:<h3>Pickering</h3><a href="https://strata.ca/pickering/bayshore-mews-townhomes-1230-radom-st" target="_blank">Bayshore Mews Townhomes</a> | 32%<h3>Oshawa</h3><a href="https://strata.ca/oshawa/wentworth-gardens-townhomes-401-wentworth-st-w" target="_blank">Wentworth Gardens Townhomes</a> | 37%<a href="https://strata.ca/oshawa/540-dorchester-townhomes-540-dorchester-dr" target="_blank">540 Dorchester Townhomes</a> | 36%<a href="https://strata.ca/oshawa/222-pearson-street-townhomes-222-pearson-st" target="_blank">222 Pearson Street Townhomes</a> | 36%<h3>Whitby</h3><a href="https://strata.ca/whitby/sprucedale-palisades-townhomes-1-118-sprucedale-way-10-34-palisades-crt" target="_blank">Sprucedale &amp; Palisades Townhomes</a> | +38%<a href="https://strata.ca/whitby/salmon-way-townhomes-1-110-salmon-way" target="_blank">Salmon Way Townhomes</a> | +33%Liu says he isn&rsquo;t surprised though that these older townhomes are rising the fastest.&ldquo;Yes, the finishes might be dated. But these units offer some of the biggest layouts in the GTA. If you can&rsquo;t afford a freehold in Toronto, a townhome in Durham is really a fantastic compromise.&rdquo;For journalists: If you&rsquo;d like more information on this report or would like to receive future news releases, please send your requests to media(at)strata.ca.

Pickering Condo Values Soar by 40% as City Prepares for Massive Transformation

As the old saying goes, bigger isn&rsquo;t always better. But, ask homeowners how they feel. And most will tell you that size does matter. So when it comes to condominiums, it&rsquo;s no surprise that most people are looking for units that look and feel spacious. The thing is, those larger units often come at a cost. And if you&rsquo;re on a tight budget, there are some luxuries you may have to ditch in order to land that bigger property. Those luxuries may include being close to public transit, or being able to walk to your favourite shops and restaurants. That&rsquo;s because the most spacious condos are simply not available in Toronto&rsquo;s core areas. But rather, in up and coming neighbourhoods in North York, Scarborough and Etobicoke.Strata.ca has released its list of the top condos that offer the biggest layouts for the best price. We aggregated cost-per-square foot (PSF) data to isolate properties that give you the most value dollar-for-dollar, strictly based on size. And since there are hundreds of condominiums in Toronto, we narrowed down the list further by examining only those that include layouts over 1,200 square feet.So if space is your top priority, here are the condos that provide the kind of value you can literally measure!<h2>#1) Tam O&rsquo;Shanter Casitas </h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/107/00_New_Tam_OShanter_Casitas_188_Bonis_Ave-2000-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/107/00_New_Tam_OShanter_Casitas_188_Bonis_Ave-2000.jpeg"/><img src="https://strata.ca/slate-image/article-images/107/00_New_Tam_OShanter_Casitas_188_Bonis_Ave-2000.jpeg" alt="Tam OShanter Casitas at 188 Bonis Ave"/></picture><h3>Scarborough</h3><h4>Average cost: $294 PSF</h4><h4>$261 less expensive than neighbourhood average</h4>Located in the high-demand area of Kennedy &amp; Sheppard in north Scarborough, this condo takes top spot when it comes to maximizing your budget. Homebuyers love that properties here can range up to 2,400 square feet. Many of these units offer 4 bedrooms and 3 baths, which is a rarity in today&rsquo;s condominiums.But Cliff Liu, a broker at <a href="https://strata.ca" target="_blank">Strata.ca</a>, notes that space-conscious buyers must keep an eye on maintenance fees.&ldquo;Maintenance fees are usually proportionate to condo size. So the bigger your unit, the more you&rsquo;ll likely have to pay. So it&rsquo;s about finding the right balance between monthly affordability and a space that&rsquo;s large enough to fulfil your needs,&rdquo; says Liu.Scarborough&rsquo;s average cost-per-square foot is currently $585. But at the <a href="https://strata.ca/toronto/tam-oshanter-casitas-188-bonis-ave" target="_blank">Tam O&rsquo;Shanter Casitas</a>, our data shows that over the past 3 months, homebuyers have been able to purchase here for $294 PSF. With that kind of value, it&rsquo;s no wonder these townhomes are in such high demand.<h2>#2) 10 Eddystone Avenue Condos</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/107/01_10_Eddystone_Ave_Unit_148-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/107/01_10_Eddystone_Ave_Unit_148.jpeg"/><img src="https://strata.ca/slate-image/article-images/107/01_10_Eddystone_Ave_Unit_148.jpeg" alt="10 Eddystone Ave"/></picture><h3>North York</h3><h4>Average cost: $295 PSF</h4><h4>$82 less expensive than neighbourhood average</h4>Toronto&rsquo;s Jane and Finch neighbourhood offers incredible value, but <a href="https://strata.ca/toronto/10-eddystone-avenue-condos-10-eddystone-ave" target="_blank">10 Eddystone</a> continues to stand out from the rest. The most popular layouts feature up to 1,800 square feet of living space, spread out among 3 to 4 bedrooms.<a href="https://strata.ca" target="_blank">Strata.ca</a> realtor, Cyrus Ghazvini, says some of his clients are looking for bigger units because they offer more options for renovation.&ldquo;More square footage means a bigger area to work with. Many homebuyers want that kind of canvas, since it allows them to more easily reconfigure the space. And that&rsquo;s especially important for those wanting to maximize resale value,&rdquo; explains Ghazvini.<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/107/00_10_Eddystone_ave_unit_225-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/107/00_10_Eddystone_ave_unit_225.jpeg"/><img src="https://strata.ca/slate-image/article-images/107/00_10_Eddystone_ave_unit_225.jpeg" alt="10 Eddystone Ave Unit 225"/></picture><a href="https://strata.ca/toronto/10-eddystone-avenue-condos-10-eddystone-ave/unit-225-w5164481" target="_blank">10 Eddystone Ave, Unit 225</a><ul><li>Asking price: $350,000</li><li>3 beds, 2 bath</li><li>Size: 1,046 sqft</li></ul>Appreciation rates at this complex are up 21% in the past 12 months. And much of that can likely be attributed to its low cost-per-square-foot. But because the amenities here are slim &mdash; you&rsquo;re sacrificing that pool and gym, so you can have the room to &lsquo;sprawl out&rsquo; instead!<h2>#3) 315 Dixon Road Condos</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/107/00_315 Dixon Road Condos_315 Dixon Rd-2000-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/107/00_315 Dixon Road Condos_315 Dixon Rd-2000.jpeg"/><img src="https://strata.ca/slate-image/article-images/107/00_315 Dixon Road Condos_315 Dixon Rd-2000.jpeg" alt="315 Dixon Road Condos"/></picture><h3>Etobicoke</h3><h4>Average cost: $301 PSF</h4><h4>$204 less expensive than neighbourhood average</h4>Built in 1977, this building isn&rsquo;t much to look at. But our data shows demand here is extremely high, and it&rsquo;s not difficult to see why. Buyers strictly concerned about space are particularly fascinated by what <a href="https://strata.ca/toronto/315-dixon-road-condos-315-dixon-rd" target="_blank">this condo</a> offers.Units range from 1,350 to 1,600 square feet. On average, each owner tends to hold on for about 19 years. And with just 22 properties in the whole building, it may be difficult to purchase here. But when they do pop up, act quickly because units tend to sell within 14 days.<h2>#4) Weston Gate</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/107/00_2130WestonRoad_Weston_Gate_Exterior-2000-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/107/00_2130WestonRoad_Weston_Gate_Exterior-2000.jpeg"/><img src="https://strata.ca/slate-image/article-images/107/00_2130WestonRoad_Weston_Gate_Exterior-2000.jpeg" alt="2130 Weston Road, Exertior"/></picture><h3>York Crosstown</h3><h4> Average cost: $323 PSF</h4><h4>$213 less expensive than neighbourhood average</h4>This yellow-brick condo is a far cry from the shiny glass towers popping up all over Toronto. But if a spacious unit by the scenic Humber is your idea of the good life, then <a href="https://strata.ca/toronto/weston-gate-2130-weston-rd" target="_blank">Weston Gate</a> is definitely worth a look.Built in the late 70s, this building borders on that familiar retro vibe. You can find units here as big as 1,500 square feet. And the most popular layouts feature 3 well-sized bedrooms, perfect for any family. The building also backs onto Cruickshank Park, which sits along the eastern shores of the Humber River.<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/107/00_2130_Weston_Road_Unit_904-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/107/00_2130_Weston_Road_Unit_904.jpeg"/><img src="https://strata.ca/slate-image/article-images/107/00_2130_Weston_Road_Unit_904.jpeg" alt="2130 Weston Road, Unit 904"/></picture><a href="https://strata.ca/toronto/weston-gate-2130-weston-rd/unit-904-w5221953" target="_blank">2130 Weston Road, Unit 904</a><ul><li>Asking price: $429,000</li><li>2 beds, 1 bath</li><li>Size: 1,199 sq ft</li></ul><h2>#5) 665 Kennedy Road Condos</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/107/01_665_Kennedy_road_Exterior-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/107/01_665_Kennedy_road_Exterior.jpeg"/><img src="https://strata.ca/slate-image/article-images/107/01_665_Kennedy_road_Exterior.jpeg" alt="665 Kennedy Road Exterior"/></picture><h3>Scarborough</h3><h4>Average cost: $325 PSF</h4><h4>$214 less expensive than neighbourhood average</h4>Located on Kennedy, just south of Eglinton, this <a href="https://strata.ca/toronto/665-kennedy-road-condos-665-kennedy-rd" target="_blank">intimate low-rise</a> is a short walk to the new Eglinton Crosstown LRT. First-time homebuyers and young families are particularly drawn to its sizeable units, all of them featuring 3 bedrooms. Some properties even cover two storeys, offering separation between living and sleeping areas. Each unit has 2 bathrooms, ensuite laundry, and a large balcony.<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/107/00_665_Kennedy_Road_Unit_510-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/107/00_665_Kennedy_Road_Unit_510.jpeg"/><img src="https://strata.ca/slate-image/article-images/107/00_665_Kennedy_Road_Unit_510.jpeg" alt="665 Kennedy Road Unit 510"/></picture><a href="https://strata.ca/toronto/665-kennedy-road-condos-665-kennedy-rd/unit-510-e5161874" target="_blank">665 Kennedy Rd, Unit 510</a><ul><li>Asking price: $419,000</li><li>Size: 1,200 sq ft</li><li>3 beds, 2 baths</li></ul>Liu has noticed many of his clients are downtown homebuyers looking to sacrifice urban amenities for more living space.&ldquo;I have more and more families, even young people, telling me they can &lsquo;no longer breathe&rsquo; in these 600 square-foot units downtown. That&rsquo;s why they&rsquo;re more open now to sacrificing on a few luxuries. They want to feel as if they&rsquo;re living in a house, as opposed to a tiny apartment,&rdquo; says Liu.For journalists: If you&rsquo;d like more information on this report or would like to receive future news releases, please send your requests to media(at)strata.ca.

Top 5 Condos in Toronto with the Biggest Layouts for the Best Price

There are tons of properties that have sold for ridiculously large amounts of money during the COVID-19 pandemic. But while most people look at the final sale price to gauge a home&rsquo;s worth, that number isn&rsquo;t always a true representation of actual market value.That&rsquo;s why we&rsquo;ve picked through <a href="https://strata.ca">Strata.ca</a> data to isolate the most expensive condos that have sold in Toronto, strictly based on price-per-square foot (PSF).<h2>Why price-per-square foot?</h2>This measurement is a more accurate way to gauge the true value of a property. That&rsquo;s why there are instances when an $800,000 condo is considered of higher value than one that sells for, say, $1M.In Toronto right now, the average cost-per-square foot is $886. Quite low in comparison to these condos that sold for much higher.<a href="https://strata.ca/toronto/hill-and-dale-residences-1027-yonge-st-1-3-roxborough-st-e/unit-ph-2-c5134861">1 Roxborough St East, PH 12</a><ul><li>Sold for: $2,900/sqft</li><li>Date: April 16, 2021</li><li>Sale price: $11,600,000</li></ul><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/105/Roxborough 1-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/105/Roxborough 1.jpeg"/><img src="https://strata.ca/slate-image/article-images/105/Roxborough 1.jpeg" alt="1 Roxborough St East, PH 12"/></picture><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/105/Roxborough 4-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/105/Roxborough 4.jpeg"/><img src="https://strata.ca/slate-image/article-images/105/Roxborough 4.jpeg" alt="1 Roxborough St East, PH 12"/></picture><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/105/Roxborough 2-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/105/Roxborough 2.jpeg"/><img src="https://strata.ca/slate-image/article-images/105/Roxborough 2.jpeg" alt="1 Roxborough St East, PH 12"/></picture><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/105/Roxborough 3-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/105/Roxborough 3.jpeg"/><img src="https://strata.ca/slate-image/article-images/105/Roxborough 3.jpeg" alt="1 Roxborough St East, PH 12"/></picture>Photos via Michael Peart | Instagram/@michael_a_peartSummerhill meets Rosedale in this luxurious penthouse suite, inside the prestigious <a href="https://strata.ca/toronto/hill-and-dale-residences-1027-yonge-st-1-3-roxborough-st-e">Hill and Dale Residences</a>. This unit not only sold for the highest cost PSF during the pandemic; but our data shows it is also the most expensive condo to sell in Toronto, ever.12-foot ceilings, panoramic views of the city, plus 3 private terraces are tough to beat. Couple that with 4,000 square feet of living space...and you can see why this place got snatched up (by a very rich buyer!) in less than 2 months.<a href="https://strata.ca/toronto/four-seasons-private-residences-50-yorkville-ave-55-scollard-st/unit-4001-c5106008">50 Yorkville Ave, Unit 4001</a><ul><li>Sold for: $2,563/sqft</li><li>Date: February 21, 2021</li><li>Sale price: $7,365,000</li></ul><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/105/Yorkville 1-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/105/Yorkville 1.jpeg"/><img src="https://strata.ca/slate-image/article-images/105/Yorkville 1.jpeg" alt="50 Yorkville Ave, Unit 4001"/></picture><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/105/Yorkville 2-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/105/Yorkville 2.jpeg"/><img src="https://strata.ca/slate-image/article-images/105/Yorkville 2.jpeg" alt="50 Yorkville Ave, Unit 4001"/></picture><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/105/Yorkville 3-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/105/Yorkville 3.jpeg"/><img src="https://strata.ca/slate-image/article-images/105/Yorkville 3.jpeg" alt="50 Yorkville Ave, Unit 4001"/></picture><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/105/Yorkville 4-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/105/Yorkville 4.jpeg"/><img src="https://strata.ca/slate-image/article-images/105/Yorkville 4.jpeg" alt="50 Yorkville Ave, Unit 4001"/></picture>If you want to live at one of Toronto&rsquo;s most exclusive addresses, on the 40th floor, with your own private elevator -- be prepared to pay for it! This unit at the <a href="https://strata.ca/toronto/four-seasons-private-residences-50-yorkville-ave-55-scollard-st">Four Seasons Private Residences</a> in Yorkville sold for a little over $2,500 PSF.Floor-to-ceiling windows offer 365-degree views of the city with tons of natural light filling every room. A custom-designed kitchen with luxury appliances are also a must for a property of this stature. If this unit was a bit too pricey for you, there are &lsquo;cheaper&rsquo; ones on sale at the Four Seasons. Like this one, for example, at <a href="https://strata.ca/toronto/four-seasons-private-residences-50-yorkville-ave-55-scollard-st/unit-1802-c5183946">$1,805 per square foot</a>. That works out to roughly $2.68M.<a href="https://strata.ca/toronto/pears-on-the-avenue-condos-127-135-pears-ave-170-avenue-rd/unit-ph-2-c4915510">170 Avenue Rd, PH2</a><ul><li>Sold for: $2,297/sqft</li><li>Date: September 20, 2020</li><li>Sale price: $7,000,000</li></ul><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/105/Avenue Rd 1-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/105/Avenue Rd 1.jpeg"/><img src="https://strata.ca/slate-image/article-images/105/Avenue Rd 1.jpeg" alt="170 Avenue Rd, PH2"/></picture><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/105/Avenue Rd 2-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/105/Avenue Rd 2.jpeg"/><img src="https://strata.ca/slate-image/article-images/105/Avenue Rd 2.jpeg" alt="170 Avenue Rd, PH2"/></picture><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/105/Avenue Rd 3-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/105/Avenue Rd 3.jpeg"/><img src="https://strata.ca/slate-image/article-images/105/Avenue Rd 3.jpeg" alt="170 Avenue Rd, PH2"/></picture><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/105/Avenue Rd 5-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/105/Avenue Rd 5.jpeg"/><img src="https://strata.ca/slate-image/article-images/105/Avenue Rd 5.jpeg" alt="170 Avenue Rd, PH2"/></picture>Photos via Michael Peart | Instagram/@michael_a_peartThis show-stopping penthouse is nestled high in the sky with jaw-dropping views of the city, and even the lake! Priced at nearly $2,300 per square foot, you can bet this unique property came with all the extras.One of our favourite features is the open-concept kitchen, which overlooks a spacious dining area and living room. But once this pandemic is over, the owner will certainly want to entertain on that massive terrace outside. 1,400 square feet of outdoor living space features ample seating room, a dining area, and even a fireplace.So whether you&rsquo;re a first-time homebuyer or hunting for your next investment property, don&rsquo;t just look at the asking price. Instead, check out the average cost per square foot to assess a property&rsquo;s true value.For journalists: If you&rsquo;d like more information on this report or would like to receive future news releases, please send your requests to media(at)strata.ca.

Top 3 Most Expensive Condos That Have Sold in Toronto During COVID-19, Based on Price-Per-Square Foot

In March, condo sales in the GTA beat out every month over the past two years. And sales numbers were nearly double what they were when the pandemic began a year ago, hitting a record-high of 4,165 transactions.The City of Toronto saw a little over 2,500 sales in March. Most were concentrated in the downtown core with 907 sales. This was followed by North York, Etobicoke and Scarborough at 559, 338, and 325 respectively. Mississauga, meanwhile, saw the most transactions of all the suburbs with a total of 519. The overall GTA condo market increased in value by 3%.<h2>Best time to buy was in November</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/101/toronto_skyline_cozy_winter-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/101/toronto_skyline_cozy_winter.jpg"/><img src="https://strata.ca/slate-image/article-images/101/toronto_skyline_cozy_winter.jpg" alt="Toronto November Winter looking at the skyline with a warm drink"/></picture>Throughout a series of COVID-19 lockdowns, GTA homebuyers had been hoping for a drop in real estate prices. But according to Robert Van Rhijn, Broker of Record at <a href="https://strata.ca">Strata.ca</a>, that highly-anticipated drop quickly came and went last Fall.&ldquo;We now know in hindsight that the best time to buy during this whole pandemic was in November. That&rsquo;s when the average price of a GTA condo fell to $610,000.&rdquo;Van Rhijn points out that the average condo selling price has increased by $80,000 since the market hit its lowest point.&ldquo;This price increase is almost certainly due to those buyers who were once sitting on the sidelines, waiting for the market to bottom out. Now they&rsquo;re realizing it may be awhile before prices dip again, so they&rsquo;re trying to purchase whatever they can,&rdquo; he adds.<h2>Condos consistently sold above-asking in March; surging demand continues until early Summer</h2>In March, GTA condo inventory was up 21% compared year-over-year. But the average condo sold for 5.5% above the asking price, indicating that buyer demand continues to eclipse the properties that are available.&ldquo;I suspect that demand will continue to far outpace supply until the early summer months. Come the end of the spring market, those pent-up buyers will likely have purchased by then,&rdquo; says Van Rhijn.For journalists: If you&rsquo;d like more information on this report or would like to receive future news releases, please send your requests to media(at)strata.ca.

GTA condo sales in March were highest they’ve been in 2 years; demand to outpace supply until early Summer

At <a href="https://strata.ca" target="_blank">Strata.ca</a>, we&rsquo;re always trying to understand what condo buyers are looking for in a home. While TV shows may suggest that lavish penthouses and panoramic waterfront views are what buyers seek, the data often tells a different story &mdash; one that&rsquo;s more practical.Toronto&rsquo;s most searched for condos are littered throughout the GTA, and as far west as Mississauga. Granted, some of these condos are quite luxurious; but by and large, the top 10 most searched for condos on <a href="https://strata.ca" target="_blank">Strata.ca</a> are those offering great value.<h2>Downtown</h2><h3>92 King St East - King Plaza</h3><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/99/01_92KingStreetEast_King_Plaza_Condo_Exterior-2000-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/99/01_92KingStreetEast_King_Plaza_Condo_Exterior-2000.jpeg"/><img src="https://strata.ca/slate-image/article-images/99/01_92KingStreetEast_King_Plaza_Condo_Exterior-2000.jpeg" alt="These are the GTA Condos Most Searched for on Strata.ca"/></picture>There's probably no better indicator of quality than the fact that <a href="https://strata.ca/toronto/king-plaza-92-king-st-e" target="_blank">92 King Street East</a> is among the most searched for condominiums in the city, 30 years after its completion date. King Plaza offers spacious floor plans, convenient amenities, and best of all, below average price-per-square-foot in the heart of the St. Lawrence market.Because of the building's age, you may find opportunities to modernize dated finishes with your own personal touch.<h3>1-47 Sudbury St - King West Townhomes</h3><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/99/00_1-45SudburyStreet_KingWestTownhomes_Exterior-2000-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/99/00_1-45SudburyStreet_KingWestTownhomes_Exterior-2000.jpeg"/><img src="https://strata.ca/slate-image/article-images/99/00_1-45SudburyStreet_KingWestTownhomes_Exterior-2000.jpeg" alt="These are the GTA Condos Most Searched for on Strata.ca"/></picture>For families wanting to stay downtown without sacrificing space, <a href="https://strata.ca/toronto/king-west-townhomes-1-47-sudbury-st" target="_blank">1-47 Sudbury Street</a> is the perfect compromise. The King West Townhomes aren't necessarily chic, and do require some updates. But buyers are drawn to the charming red brick facades, large suite sizes, and multi-floor layouts.&ldquo;These townhomes are an affordable alternative for young couples wanting to start a new family. And there&rsquo;s always great resale value when it&rsquo;s time for something bigger,&rdquo; says Victoria D&rsquo;Ilario, real estate agent at <a href="https://strata.ca" target="_blank">Strata.ca</a>.Despite its urban location, this complex has a private community feel and is set back from major thoroughfares. Suites are typically larger than other townhomes with comparable layouts. Some units even come with gas fireplaces and private rooftop patios.<h3>120 Bayview Ave &amp; 398 Front St East - Canary Park</h3><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/99/00_120BayviewAvenue_398FrontStreetEast_Canary_Park_Condo_Exterior-2000-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/99/00_120BayviewAvenue_398FrontStreetEast_Canary_Park_Condo_Exterior-2000.jpeg"/><img src="https://strata.ca/slate-image/article-images/99/00_120BayviewAvenue_398FrontStreetEast_Canary_Park_Condo_Exterior-2000.jpeg" alt="These are the GTA Condos Most Searched for on Strata.ca"/></picture><a href="https://strata.ca/toronto/canary-park-398-front-st-e-120-bayview-ave" target="_blank">120 Bayview Ave</a>, also known as Canary Park, is a newer mid-rise development in the Corktown neighbourhood. As the name suggests, this condominium complex sits on a park. Residents enjoy an assortment of amenities, including an indoor pool, a fitness centre, a games room, and more.<a href="https://strata.ca" target="_blank">Strata.ca</a> real estate agent, Alex Hood, thinks Canary Park is a frontrunner in today&rsquo;s market because it offers many of the things that buyers are looking for, especially from a quality-of-life perspective.&ldquo;Because it&rsquo;s steps from the Distillery District, you can get to a big selection of shops and restaurants on foot. There&rsquo;s also easy access to TTC. If you&rsquo;re driving, you can head to all your favourite destinations via the DVP or Gardiner in just minutes.&rdquo;Each of the 439 units in Canary Park contain executive finishes. Granite countertops, European styled kitchens with integrated appliances, and hardwood flooring are standard. All suites are open concept, and many feature irregularly shaped layouts; a nice change from the linear, bowling alley style units found in other modern buildings.<h2>East End</h2><h3>88 Colgate Ave - Showcase Lofts</h3><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/99/01_88ColgateAvenue_Showcase_Lofts_Exterior-2000-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/99/01_88ColgateAvenue_Showcase_Lofts_Exterior-2000.jpeg"/><img src="https://strata.ca/slate-image/article-images/99/01_88ColgateAvenue_Showcase_Lofts_Exterior-2000.jpeg" alt="These are the GTA Condos Most Searched for on Strata.ca"/></picture>If you&rsquo;re going to call your loft &lsquo;Showcase&rsquo;, it had better impress. Fortunately, <a href="https://strata.ca/toronto/showcase-lofts-88-colgate-ave" target="_blank">88 Colgate Avenue</a> does just that. This 7-storey soft loft in the Leslieville-South Riverdale neighbourhood blends rustic touches (like exposed brick walls) with the amenities and luxuries of an upscale condo.The suites here include hardwood floors, sliding glass walls separating bedrooms, and quartz countertops with stainless steel appliances. As well, all units have large private balconies.Hood says you get the benefit of living in a unique building without paying high maintenance fees, which is a common downside to many boutique condominiums.&ldquo;You also get that industrial feel that&rsquo;s in short supply, but high demand. And being a &lsquo;soft loft&rsquo;, you don&rsquo;t have to be concerned about travelling noise the way you would in some converted &lsquo;hard lofts&rsquo;&rdquo;, adds Hood.Considering the incredible location near Queen East, it&rsquo;s hardly surprising to see this building attract so many eyes.<h3>2055 Danforth Ave - Carmelina Condos</h3><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/99/00_2055DanforthAvenue_CarmelinaCondos_Exterior-2000-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/99/00_2055DanforthAvenue_CarmelinaCondos_Exterior-2000.jpeg"/><img src="https://strata.ca/slate-image/article-images/99/00_2055DanforthAvenue_CarmelinaCondos_Exterior-2000.jpeg" alt="These are the GTA Condos Most Searched for on Strata.ca"/></picture><a href="https://strata.ca/toronto/carmelina-condos-2055-danforth-avenue" target="_blank">2055 Danforth Avenue</a> is a mid-rise offering great value at an exceptional location in the Upper Beaches.The desirability around the Carmelina Condos is a testament to its quality. For starters, residents enjoy a carefully curated list of amenities, and most suites offer modern finishes. These units also have extremely efficient layouts with lots of natural lighting and private balconies. You can easily run errands on foot or commute into the downtown core via Woodbine Station, just minutes from the building.<h2>West End</h2><h3>1830 Bloor St West - High Park Residences</h3><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/99/00_1830BloorStreetWest_High_Park_Residences_Exterior-2000-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/99/00_1830BloorStreetWest_High_Park_Residences_Exterior-2000.jpeg"/><img src="https://strata.ca/slate-image/article-images/99/00_1830BloorStreetWest_High_Park_Residences_Exterior-2000.jpeg" alt="These are the GTA Condos Most Searched for on Strata.ca"/></picture>Though plenty of condos lean on the High Park name, <a href="https://strata.ca/toronto/high-park-residences-1830-bloor-st-w" target="_blank">High Park Residences</a> is one of only two condos that directly overlooks the famous 400 acres of parklands. The developer, Daniels Corp, clearly took this to heart. It designed the U-shaped building to provide the most units with a view of the park.Galina Sheveleva, <a href="https://strata.ca" target="_blank">Strata.ca</a> real estate agent, thinks you just can&rsquo;t beat this condo&rsquo;s excellent location.&ldquo;Not only is it steps from the Bloor subway line and right across from the park, but it&rsquo;s also an ideal option for those looking to live close to the core...and still avoid the hectic vibes that downtown neighbourhoods tend to have,&rdquo; she says.The High Park Residences offer many appealing amenities. And yet, maintenance fees are below average, as is price per square foot. Prospective buyers won&rsquo;t find top-end finishes in most units. But with 9-foot ceilings, open concept layouts, and large windows, these suites have great bones.<h3>812 Lansdowne Ave - Upside Down Condos II</h3><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/99/00_812LandsowneAvenue_Upside_Down_Condos_II_Exterior-2000-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/99/00_812LandsowneAvenue_Upside_Down_Condos_II_Exterior-2000.jpeg"/><img src="https://strata.ca/slate-image/article-images/99/00_812LandsowneAvenue_Upside_Down_Condos_II_Exterior-2000.jpeg" alt="These are the GTA Condos Most Searched for on Strata.ca"/></picture>Upside Down Condos II is located at <a href="https://strata.ca/toronto/upside-down-condos-ii-812-lansdowne-ave" target="_blank">812 Lansdowne Avenue</a> -- just minutes from shopping, dining, and public transit. The building contains 303 suites, all of which are modern and open concept. Kitchens feature granite counters, stainless-steel appliances, and ceramic flooring. Internet sleuths will note that most bedrooms have carpet, but that&rsquo;s an easy replacement.Price-per-square foot and condo fees are slightly higher than the neighbourhood average. But they&rsquo;re still lower compared to downtown Toronto.<h3>1093 Queen St W &amp; 106 Dovercourt Rd - TEN93 Condos</h3><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/99/00_TEN93-Lofts-1093-Queen-St-W-Toronto-2000-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/99/00_TEN93-Lofts-1093-Queen-St-W-Toronto-2000.jpeg"/><img src="https://strata.ca/slate-image/article-images/99/00_TEN93-Lofts-1093-Queen-St-W-Toronto-2000.jpeg" alt="These are the GTA Condos Most Searched for on Strata.ca"/></picture><a href="https://strata.ca/toronto/ten93-condos-106-dovercourt-rd-1093-queen-st-w" target="_blank">1093 Queen Street West</a> is home to TEN93 Condos, a soft loft development in Little Portugal. But you could say this building is more &lsquo;luxury condo&rsquo; than it is loft. From subway tile backsplashes to wide-plank hardwood floors and stylish interior windows, there are few vintage touches or rustic vibes inside.The building&rsquo;s Queen Street West location means dining and nightlife can be found just outside the lobby doors. With Queen streetcars running east and west, plus nearby on-ramps to the Gardiner Expressway -- TEN93 checks all the boxes for comfort, style, and convenience.<h2>Scarborough</h2><h3>1100 Kingston Rd - Kingston &amp; Co Condos</h3><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/99/00_ kingston-co-condos-1100-kingston-road-2000-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/99/00_ kingston-co-condos-1100-kingston-road-2000.jpeg"/><img src="https://strata.ca/slate-image/article-images/99/00_ kingston-co-condos-1100-kingston-road-2000.jpeg" alt="These are the GTA Condos Most Searched for on Strata.ca"/></picture><a href="https://strata.ca/toronto/kingston-co-condos-1100-kingston-rd" target="_blank">1100 Kingston Road</a> perfectly encapsulates why south Scarborough&rsquo;s Birch Cliff-Cliffside neighbourhood has become so popular in recent years. Kingston &amp; Co Condos is just steps from pubs, restaurants, and a large green space. It&rsquo;s also a 5-minute drive to Woodbine Beach. In short, this condo offers the Beaches lifestyle at a good discount.&ldquo;More than half of the suites here are larger than 800 square feet, and many of them offer unique lake views. You definitely get more value for your dollar, compared to similar units in the Beaches or downtown,&rdquo; says Larry Medina, real estate agent at <a href="https://strata.ca" target="_blank">Strata.ca</a>.In all, there are 144 units spread out over 10 floors. You&rsquo;ll find rich hardwood throughout principal rooms, with lavish bathrooms and gourmet kitchens. Stainless steel appliances and generous counter space are also a big draw. All suites have large private balconies, and residents can enjoy some great amenities.<h2>Mississauga</h2><h3>3895 Doug Leavens Blvd</h3><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/99/01_3895 doug leavens boulevard-2000-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/99/01_3895 doug leavens boulevard-2000.jpeg"/><img src="https://strata.ca/slate-image/article-images/99/01_3895 doug leavens boulevard-2000.jpeg" alt="These are the GTA Condos Most Searched for on Strata.ca"/></picture>The suites at <a href="https://strata.ca/mississauga/3895-doug-leavens-boulevard-townhomes-3895-doug-leavens-blvd" target="_blank">3895 Doug Leavens Blvd</a> are essentially attached houses that sell in the mid-700s in a great area. And therein lies the desirability for this Mississauga complex. For families in search of a safe, and affordable area to call home, there&rsquo;s a lot to love about the Lisgar neighbourhood along Line 9. The area is populated with diverse families, lots of parks, water features, and quality schools. You&rsquo;ll also find lots of shopping nearby, plus easy commuter access.&ldquo;You&rsquo;re basically getting the idyllic suburban lifestyle without all the hassle of traditional home maintenance. These townhomes offer generous space, comfortable layouts and an overall higher quality of life,&rdquo; says Medina.Inside, finishes vary based on past renovations. Some are quite modern while others are in need of love. Regardless, all suites are open concept and most feature multi-floor layouts, with fenced backyards, and private garages.

These are the GTA Condos Most Searched for on Strata.ca

Yorkville, The Annex and Casa Loma are among those hit hardest during the COVID-19 pandemicAfter years of growth, Toronto&rsquo;s luxury neighbourhoods suffered a setback in the past 12 months. When it comes to year-over-year value, some areas have dropped by as much as 30%. It&rsquo;s a startling figure. But not surprising given what we&rsquo;ve seen throughout the province, as buyers move to traditionally-overlooked areas in search of cheaper prices and more space. Unfortunately, that means some of Toronto&rsquo;s luxury neighbourhoods have taken a tremendous hit.Neighbourhoods With Biggest Decline in Value Over Past 12 Months<h3>1. The Annex: -29.96%</h3><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/92/01_BiancaCondos_theannex_toronto1-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/92/01_BiancaCondos_theannex_toronto1.jpg"/><img src="https://strata.ca/slate-image/article-images/92/01_BiancaCondos_theannex_toronto1.jpg" alt="Bianca Condos at The Annex Toronto"/></picture><h3>2. Bloor-Yonge: -11.98%</h3><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/92/01_onebloor_luxury_interior_toronto-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/92/01_onebloor_luxury_interior_toronto.jpg"/><img src="https://strata.ca/slate-image/article-images/92/01_onebloor_luxury_interior_toronto.jpg" alt="One Bloor Residence at Yonge and Bloor Toronto"/></picture><h3>3. Yorkville: -11.79%</h3><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/92/01_yorkville_toronto_hazeltonres-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/92/01_yorkville_toronto_hazeltonres.jpg"/><img src="https://strata.ca/slate-image/article-images/92/01_yorkville_toronto_hazeltonres.jpg" alt="Luxury Condo The Hazelton at Yorkville"/></picture><h3>4. Casa Loma: -11.13%</h3><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/92/01_77_ClarendonCondos_casaloma_toronto-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/92/01_77_ClarendonCondos_casaloma_toronto.jpg"/><img src="https://strata.ca/slate-image/article-images/92/01_77_ClarendonCondos_casaloma_toronto.jpg" alt="Maison 77 Clarendon Condo at Casa Loma Toronto"/></picture><h3>5. Bay St. Corridor: -6.31%</h3><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/92/01_baystcorridor_thebrittcondos-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/92/01_baystcorridor_thebrittcondos.jpg"/><img src="https://strata.ca/slate-image/article-images/92/01_baystcorridor_thebrittcondos.jpg" alt="The Britt Condos at Bay St Corridors"/></picture>Our findings also show that in the above neighbourhoods:<h6>Condo inventory levels are nearly double right now than during the same time last year, except for The Annex.</h6><h6>Rental values have also plunged</h6><ul><li>The Annex: -11.50%</li><li>Bloor-Yonge: -21.58%</li><li>Yorkville: -19.21%</li><li>Casa Loma: -18.67%</li><li>Bay St. Corridor: -22.56%</li></ul><h6>Nearby &lsquo;non-luxury&rsquo; neighbourhoods have increased in value</h6><ul><li>The Junction: +11.33%</li><li>Leslieville/South Riverdale: +5.16%</li><li>Regent Park: +5.67%</li></ul><h2>Why the Drop?</h2>Much of what&rsquo;s happening in the luxury market can be easily understood as a shift in supply and demand. The drivers of this movement are many: Airbnb short-term rentals moving to the long-term market; the loss of student renters in areas like The Annex and Bloor-Yonge forcing investors to sell, as well as dropping confidence in the desirability of a luxury home. And of course, remote work is allowing buyers to look outside the downtown core.Sam Massoudi is a real estate agent at <a href="https://strata.ca">Strata.ca</a> with investor clients in hard-hit luxury neighbourhoods. For years, many of them relied on wealthier international students as tenants. But some of Massoudi&rsquo;s clients have been forced to sell, since virtual learning means foreign students can attend Canadian schools from abroad.&ldquo;I have investor clients who were once so proud to own a property in a luxury neighbourhood. But they had no idea a pandemic like this was going to hit and drive immigration out of the city. So now some of them have sold. For those who didn&rsquo;t, they&rsquo;re renting these places out for very cheap. That's why we&rsquo;re seeing such low rents in some luxury areas,&rdquo; adds Massoudi.All of these factors have played a part in shifting demand. But <a href="https://strata.ca">Strata.ca</a>&rsquo;s Broker of Record, Robert Van Rhijn, believes the real driver is a change in buyer thinking.&ldquo;Buyers will often prioritize value over luxury when in a recessionary environment. Even those who have the means to purchase high-end properties are likely to hold off. Sometimes they worry that luxury might become devalued, resulting in a wait-and-see approach,&rdquo; says Van Rhijn.<h2>Substance Over Style</h2>Buyers are seeking the best value for their dollar, and they want a sure thing. During a pandemic, what&rsquo;s the point in a Yorkville condo when there&rsquo;s no 5-star dining or boutique shopping allowed? Or a Bay Street penthouse when density is now a deterrent? When value is difficult to define, buyers stick to what they know &mdash; price and square footage.In the example of Regent Park, Leslieville, and the Junction, where prices are soaring, all three neighbourhoods have a lower than average price-per-square foot, and a growing stock of aesthetically-unique condos. In fact, all three neighbourhoods have a high number of <a href="https://strata.ca/blog">loft </a> residences, which could also explain their soaring values.Van Rhijn isn&rsquo;t surprised though that &lsquo;non-luxury&rsquo; neighbourhoods are seeing the opposite trend.&ldquo;The Junction and Regent Park are still gentrifying, so I&rsquo;m not startled to see values increase as cautious buyers hunt for better deals. Look, even during lockdown periods, we&rsquo;re seeing bidding wars in these areas,&rdquo; says Van Rhijn.

Toronto’s Luxury Neighbourhoods Have Dropped in Value by Up to 30% [REPORT]

The mountain paradise of <a href="https://strata.ca/toronto/180-university-ave-shangri-la">Shangri-La</a> might be a work of fiction, but the condo is the real deal and among the most luxurious residences in Toronto. <a href="https://strata.ca/toronto/shangri-la-180-university-ave/unit-3705-c4559361">Unit 3705</a> is a stunning corner suite with an equally stunning price tag of $2,188,000. As both a hotel and condominium, the building comes equipped with an array of desirable amenities; ideal for anybody who craves being pampered at home.<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/46/1 - listing-of-the-week-180-university-ave-unit-3705-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/46/1 - listing-of-the-week-180-university-ave-unit-3705.jpeg"/><img src="https://strata.ca/slate-image/article-images/46/1 - listing-of-the-week-180-university-ave-unit-3705.jpeg" alt="180 University Ave, Unit 3705 for Sale - Kitchen"/></picture><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/46/2 - listing-of-the-week-180-university-ave-unit-3705-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/46/2 - listing-of-the-week-180-university-ave-unit-3705.jpeg"/><img src="https://strata.ca/slate-image/article-images/46/2 - listing-of-the-week-180-university-ave-unit-3705.jpeg" alt="180 University Ave, Unit 3705 for Sale - Kitchen Table"/></picture>The kitchen is open to the living space and features marble countertops, integrated stainless steel appliances, a wine cooler, and a large kitchen island and breakfast bar.<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/46/3 - listing-of-the-week-180-university-ave-unit-3705-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/46/3 - listing-of-the-week-180-university-ave-unit-3705.jpeg"/><img src="https://strata.ca/slate-image/article-images/46/3 - listing-of-the-week-180-university-ave-unit-3705.jpeg" alt="180 University Ave, Unit 3705 for Sale - Living Room"/></picture>Living room has ample space for a dining table &mdash; which includes panoramic views of downtown Toronto.<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/46/4 - listing-of-the-week-180-university-ave-unit-3705-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/46/4 - listing-of-the-week-180-university-ave-unit-3705.jpeg"/><img src="https://strata.ca/slate-image/article-images/46/4 - listing-of-the-week-180-university-ave-unit-3705.jpeg" alt="180 University Ave, Unit 3705 for Sale - Bedroom 1"/></picture><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/46/5 - listing-of-the-week-180-university-ave-unit-3705-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/46/5 - listing-of-the-week-180-university-ave-unit-3705.jpeg"/><img src="https://strata.ca/slate-image/article-images/46/5 - listing-of-the-week-180-university-ave-unit-3705.jpeg" alt="180 University Ave, Unit 3705 for Sale - Bedroom 2"/></picture>The 2 bedroom + den unit has a sprawling master suite and a reasonably sized second bedroom.<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/46/6 - listing-of-the-week-180-university-ave-unit-3705-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/46/6 - listing-of-the-week-180-university-ave-unit-3705.jpeg"/><img src="https://strata.ca/slate-image/article-images/46/6 - listing-of-the-week-180-university-ave-unit-3705.jpeg" alt="180 University Ave, Unit 3705 for Sale - Den"/></picture>The den is large enough for an office &mdash; or 2 uncomfortable chairs and a coffee table.<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/46/7 - listing-of-the-week-180-university-ave-unit-3705-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/46/7 - listing-of-the-week-180-university-ave-unit-3705.jpeg"/><img src="https://strata.ca/slate-image/article-images/46/7 - listing-of-the-week-180-university-ave-unit-3705.jpeg" alt="180 University Ave, Unit 3705 for Sale - Washroom"/></picture>The unit has 3 bathrooms and a lavish ensuite with walk-in closet that could easily be mistaken for a spa.<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/46/8 - listing-of-the-week-180-university-ave-unit-3705-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/46/8 - listing-of-the-week-180-university-ave-unit-3705.jpeg"/><img src="https://strata.ca/slate-image/article-images/46/8 - listing-of-the-week-180-university-ave-unit-3705.jpeg" alt="180 University Ave, Unit 3705 for Sale - Balcony"/></picture><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/46/9 - listing-of-the-week-180-university-ave-unit-3705-600.jpeg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/46/9 - listing-of-the-week-180-university-ave-unit-3705.jpeg"/><img src="https://strata.ca/slate-image/article-images/46/9 - listing-of-the-week-180-university-ave-unit-3705.jpeg" alt="180 University Ave, Unit 3705 for Sale - View"/></picture>The balcony is on the small side considering the unit&rsquo;s square footage, but the views are nothing to scoff at.Jump on it if: You&rsquo;ve no issues with paying a second mortgage in maintenance fees.Appreciate from a distance if: You&rsquo;re considering purchasing a single family home &mdash; at this price point you could land a beautifully renovated house in downtown Toronto.<h3>The Facts:</h3><ul><li>2 Bedroom + Den</li><li>3 Bathrooms</li><li>1746 square feet</li><li>Fees: $1,769/mth</li><li>Fees cover: Heat, Air Conditioning, Water, Parking, Building Insurance</li><li>Neighbourhood: <a href="https://strata.ca/toronto/downtown/queen-west/condos-for-sale">Queen West</a></li></ul>

Listing of the Week: Shangri-La

The downtown Toronto area is home to just under 1,000 condos &mdash; by the time this list is posted there will probably be a few more. And as prices continue to rise, many of us are looking at the most affordable options out there. Here&rsquo;s a list of our top ten.Are you going to see the likes of <a href="https://strata.ca/toronto/180-university-ave-shangri-la">The Shangri La Residences</a> or <a href="https://strata.ca/toronto/183-wellington-st-w-residences-of-the-ritz-carlton">The Ritz Carlton</a> on this list? Absolutely not, but you won&rsquo;t see any cardboard boxes or dilapidated low-rises here either. We&rsquo;ve put together a list of buildings that are both reputable and affordable: with that in mind, here are the cheapest (but not cheap quality) condos in the downtown Toronto area based on the average cost per square foot.<h2>How much do condos cost on average?</h2>As of this writing (January 2020), the average cost of a condo in the downtown area is $1084 per square foot. That translates to about $580,000 for your average 1 bedroom, $640,000 for your average 1 bedroom and den unit and nearly $800,000 for your average 2 bedroom.<blockquote>Many of us are priced out of the market at those numbers. And as more would-be buyers are pushed into the rental market, we&rsquo;re seeing rents reach record highs.</blockquote>For those comfortable with the middle ground, and open to a reputable &ldquo;no frills&rdquo; condo living experience, the list below might be worth shortlisting.<h2>Criteria we used</h2>I should point out that these weren&rsquo;t the absolute cheapest condos in Toronto in terms of dollars: We weeded out the ones that for one reason or another should be avoided altogether (poor upkeep, dramatically higher than average maintenance fees, etc). Or in other words, any condo we wouldn't personally recommend to a client was removed from the list.<h2>Trends among condos on the list</h2>What most of these condos have in common is age. They tend to be built in the early 90&rsquo;s, where the trend among developers was to build larger living spaces (e.g. 700 square foot 1 bedroom units &mdash; whereas today, developers are managing to squeeze 2 bedrooms and a den into a 700 square foot living space).One perk many of these buildings share is that they include all utilities in the maintenance fees. This is another benefit to the buildings being older, as new condos must meter hydro separately by law (which has been the case for a bit over a decade now). However, a number of these buildings do have maintenance fees above average. When weighed against the savings on your mortgage though, the higher fees are well compensated for.Another trend you&rsquo;ll find in these buildings is that they tend to feature a blend of tastefully renovated units and very dated, or &ldquo;original&rdquo; units. If you're open to renovations and looking for a bargain, or you&rsquo;ve binge-watched every HGTV reno show and you&rsquo;re ready to try your hand at it, these are buildings worth considering.And finally, we did disclose the average cost per square foot, but those figures will become dated soon enough. However, as the cost per square foot increases among these buildings, they will undoubtedly increase among all other Toronto condos.The most important detail to note is that most of these are between 20% to 35% &lsquo;below&rsquo; the average cost per square foot in the downtown core &mdash; and that gap will remain relatively consistent, even as prices change.And without further adieu, the cheapest condos in the downtown Toronto area ranked from the highest to the lowest:<h2>Top 10 Cheapest Condos in Toronto </h2><h2>10. Minto Plaza - 38 Elm Street</h2>Average cost per square foot: $812<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/39/10-minto-plaza-condos-38-elm-street-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/39/10-minto-plaza-condos-38-elm-street.jpg"/><img src="https://strata.ca/slate-image/article-images/39/10-minto-plaza-condos-38-elm-street.jpg" alt="The Minto Plaza Condos at 38 Elm Street, Toronto"/></picture><a href="https://strata.ca/toronto/38-elm-st-minto-plaza">38 Elm Street</a> is an older building on one of the most desirable little streets in the downtown core. Built in 1990 and with 433 units, it&rsquo;s not the right condo for anyone looking for a new and glossy boutique building with a sense of exclusivity, however if you're looking for value, units are currently selling in the low $800&rsquo;s per square foot at 38 Elm St, while most nearby Bay St condos are selling closer to $1,100.One notable strike are the high maintenance fees, at $.90 cents per square foot (average downtown is about $.65 to $.70 cents). But there&rsquo;s one notable distinction: unlike most condos, the maintenance fees include all utilities, making them more reasonable but still on the higher end.<h2>9. 500 Queens Quay West</h2>Average cost per square foot: $702<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/39/01_500QueensQuayWest_500_Queens_Quay_Condos_Exterior-480-2-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/39/01_500QueensQuayWest_500_Queens_Quay_Condos_Exterior-480-2.jpg"/><img src="https://strata.ca/slate-image/article-images/39/01_500QueensQuayWest_500_Queens_Quay_Condos_Exterior-480-2.jpg" alt="500 Queens Quay West Condos, Toronto"/></picture><a href="https://strata.ca/toronto/500-queens-quay-w-500-queens-quay-west">500 Queens Quay West</a> is one of my favourite condos in the Waterfront area. It was completed in 2000, houses only 187 units and is a medium-rise at only 11 storeys tall, giving it a more exclusive and community-oriented vibe.The maintenance fees are also abnormally low at 500 Queens Quay, at only $.60 cents per square foot (hydro is paid separately). Low condo fees are always a positive reflection on both the building management and condo board.If you're on a budget and interested in the Waterfront, put this building on your shortlist. However, expect to pay a much more average cost per square foot for renovated units facing the water.<h2>8. The Star of Downtown - 225 Wellesley St E </h2>Average cost per square foot: $751<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/39/01_225WellesleyStreetEast_Star_of_Downtown_Exterior-480-2-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/39/01_225WellesleyStreetEast_Star_of_Downtown_Exterior-480-2.jpg"/><img src="https://strata.ca/slate-image/article-images/39/01_225WellesleyStreetEast_Star_of_Downtown_Exterior-480-2.jpg" alt="The Star of Downtown Condos at 225 Wellesley St E, Toronto"/></picture><a href="https://strata.ca/toronto/225-wellesley-st-e-the-star-of-downtown">225 Wellesley St East</a> is a popular mid-rise condo &mdash; with a boastful name (or some might say tacky). Built in 2009, it houses 184 units and is only 12 storeys tall. Maintenance fees are just slightly on the higher end, at $.74 cents per square foot.Depending who you ask, some would describe 225 Wellesley St East as being in the highly desirable Cabbagetown area, and others would say the less desirable St. Jamestown. This pocket is still a little rough around the edges, which is likely turning off some buyers &mdash; ironically, a number of luxury buildings have gone up in this neighbourhood in recent years. The condo is located at the south end of a number of densely clustered apartment buildings.Otherwise, 225 Wellesley St East features all the amenities one could reasonably want in a condo and is a short walk to many desirable parts of the city.<h2>7. St. James Square - 95 Lombard St</h2>Average cost per square foot: $708<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/39/00_95LombardStreet_Saint_James_Square_Condos_Exterior-480-2-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/39/00_95LombardStreet_Saint_James_Square_Condos_Exterior-480-2.jpg"/><img src="https://strata.ca/slate-image/article-images/39/00_95LombardStreet_Saint_James_Square_Condos_Exterior-480-2.jpg" alt="St. James Square Condos at 95 Lombard St, Toronto"/></picture><a href="https://strata.ca/toronto/95-lombard-st-st-james-square">95 Lombard St</a> is a relatively nondescript medium-rise condo on Lombard &mdash; one of my favourite little streets in the downtown core, sandwiched between Richmond and Adelaide.The building was completed in 1990, houses only 65 units and is 14 storeys tall. Turnover is very low, averaging about a sale every two months (or six per year).If you're looking for excellent value in the very low $700&rsquo;s per square foot, in one of the most desirable pockets in the downtown core (a stones throw from the St. Lawrence Market), 95 Lombard St is worth shortlisting: if you&rsquo;re not looking for that, you might be reading the wrong article.However, the maintenance fees are $1.01 per square foot, which is definitely on the higher end. They do include all utilities though, making them more reasonable, but still notably higher than average. What you&rsquo;d save on your mortgage would still offset the higher than average fees many times over.<h2>6. Horizon on Bay - 633 Bay St </h2>Average cost per square foot: $761<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/39/633-Bay-Street-Toronto-Horizon-on-Bay-Condos-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/39/633-Bay-Street-Toronto-Horizon-on-Bay-Condos.jpg"/><img src="https://strata.ca/slate-image/article-images/39/633-Bay-Street-Toronto-Horizon-on-Bay-Condos.jpg" alt="Horizon on Bay Condos at 633 Bay St, Toronto"/></picture>Tridel must have pulled some strings with the city because the <a href="https://strata.ca/toronto/633-bay-st-horizon-on-bay">Horizon on Bay</a> really should&rsquo;ve been called the Horizon on Edward &mdash; just doesn&rsquo;t have quite the same ring to it, does it? While the west side of the building fronts onto Bay St, the south side and lobby are very clearly fronting on Edward St &mdash; a quaint little street sandwiched between Bay and Yonge.With 475 units, standing 26 storeys tall and built in 1987, 633 Bay St is not a condo many would pay any attention to or even notice, but the suite sizes are hard to ignore: Given the age of the building, the layouts are far more generous in size than is typical in newer buildings, and the building has been impeccably maintained.Maintenance fees at the Horizon on Bay are also very reasonable, at $.71 cents per square foot, and unlike most condos, include all utilities. And good luck finding any other condo on Bay St with units selling in the mid $700&rsquo;s per square foot.One gripe I have with 633 Bay St is that it&rsquo;s one of a small handful of condos that restrict pets altogether. Although rules change&hellip; hopefully, they&rsquo;ll come to their senses.<h2>5. The Gallery - 25 Grenville</h2>Average cost per square foot: $749<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/39/00_25GrenvilleStreet_Gallery_Condos_Exterior-480-2-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/39/00_25GrenvilleStreet_Gallery_Condos_Exterior-480-2.jpg"/><img src="https://strata.ca/slate-image/article-images/39/00_25GrenvilleStreet_Gallery_Condos_Exterior-480-2.jpg" alt="The Gallery Condos at 25 Grenville St, Toronto"/></picture>Built in 1990, <a href="https://strata.ca/toronto/25-grenville-st-the-gallery">25 Grenville</a> houses 200 units over 26 storeys and is located just north of College St, between Yonge and Bay.I almost didn&rsquo;t include this condo on the list as the maintenance fees are a staggering $1.10 per square foot... almost $.50 cents above the average in the city. However, they do include hydro, which helps (although they&rsquo;re still incredibly high), and 25 Grenville is located in a highly desirable pocket of the city, where the average neighbouring condo is selling at about $175 per square foot higher.In the end, I included it because when you&rsquo;re spending $175 per square foot less than average, you can deal with higher than average maintenance fees. They&rsquo;re well compensated for.<h2>4. Empire Plaza - 33 University Ave</h2>Average cost per square foot: $724<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/39/00_33UniversityAvenue_Empire_Plaza_Condos_Exterior-480-2-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/39/00_33UniversityAvenue_Empire_Plaza_Condos_Exterior-480-2.jpg"/><img src="https://strata.ca/slate-image/article-images/39/00_33UniversityAvenue_Empire_Plaza_Condos_Exterior-480-2.jpg" alt="Empire Plaza Condos at 33 University Ave, Toronto"/></picture><a href="https://strata.ca/toronto/33-university-ave-empire-plaza">33 University Ave</a> is one of the highest demand condos on this list. Located at University and Wellington, the building is in one of the most desirable pockets of the city, where the cost of neighbouring condos is in the mid $900&rsquo;s per square foot.33 University Ave has low turnover (only 6 sales over the past year) and is a smaller high rise, with only 224 units over 28 storeys &mdash; that&rsquo;s about half the number of units you&rsquo;d find in a newer condo of a similar height. The condo was completed in 1990.Condo fees are among the lowest on this list, with all utilities included at only $.66 cents per square foot.The only caveat at 33 University Ave is that while the cost per square foot is very low, the unit sizes are quite large. So, while you&rsquo;ll get a bargain in this building on a per square foot basis, units are still selling between about $650,000 up to just above a million. If that&rsquo;s within your budget and you&rsquo;re looking for a lot of space, this is a building worth shortlisting.<h2>3. TO Condominiums - 117 Gerrard St East</h2>Average cost per square foot: $734<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/39/01_117GerrardStreetEast_TO_Condominiums_Exterior-480-2-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/39/01_117GerrardStreetEast_TO_Condominiums_Exterior-480-2.jpg"/><img src="https://strata.ca/slate-image/article-images/39/01_117GerrardStreetEast_TO_Condominiums_Exterior-480-2.jpg" alt="TO Condominiums at 117 Gerrard St East, Toronto"/></picture><a href="https://strata.ca/toronto/117-gerrard-st-e-to-condominiums">117 Gerrard St East</a> isn&rsquo;t going to win any beauty pageants or most creative name contests, however, this medium-rise has just 156 units and more than compensates with a cost per square foot in the mid/low $700's.Built in 1989, it&rsquo;s surprising to see that the building houses many smaller units, of approximately the same size as you&rsquo;d find in newer buildings today.The one (common) strike against 117 Gerrard St East are the high condo fees. They do include all utilities, but at $.90 cents per square foot, they&rsquo;re still quite a bit higher than is average.<h2>2. L&rsquo;Esprit Residences - 15 Maitland Place</h2>Average cost per square foot: $688<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/39/01_60HomewoodAvenue_L_Esprit_Residences_ExteriorSky-480-2-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/39/01_60HomewoodAvenue_L_Esprit_Residences_ExteriorSky-480-2.jpg"/><img src="https://strata.ca/slate-image/article-images/39/01_60HomewoodAvenue_L_Esprit_Residences_ExteriorSky-480-2.jpg" alt="L&rsquo;Esprit Residences at 15 Maitland Place, Toronto"/></picture><a href="https://strata.ca/toronto/60-homewood-ave-lesprit-residences">15 Maitland Place</a>, like many condos on this list, isn&rsquo;t a beauty but makes up for it with the value it offers. Completed in 1990, 15 Maitland Place is one of the first condos to be built in the LGBTQ neighbourhood.With 409 units, turnover is quite frequent, with 19 units selling just over the past 12 months alone. And lately, units have been selling a bit above the list price on average, which isn&rsquo;t much of a surprise as you can&rsquo;t buy in the high $600&rsquo;s anywhere else in this area (or the city).Maintenance fees are higher than average at $.86 cents per square foot, but as is common in buildings of his age, they include all utilities, making them quite reasonable at 15 Maitland Place.<h2>1. St. Lawrence on the Park - 65 Scadding Ave </h2>Average cost per square foot: $725<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/39/00_65ScaddingAvenue_Saint_Lawrence_on_Park_Condos_Exterior-480-2-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/39/00_65ScaddingAvenue_Saint_Lawrence_on_Park_Condos_Exterior-480-2.jpg"/><img src="https://strata.ca/slate-image/article-images/39/00_65ScaddingAvenue_Saint_Lawrence_on_Park_Condos_Exterior-480-2.jpg" alt="St. Lawrence on the Park Condos at 65 Scadding Ave, Toronto"/></picture><a href="https://strata.ca/toronto/65-scadding-ave-st-lawrence-on-the-park">65 Scadding</a> takes the first spot on this list as the cheapest condo in the downtown Toronto area. For a mid-rise built in 1988, 65 Scadding has aged well and beyond taking first place, is also one of the highest demand condos on this list. Sandwiched between the Distillery District and the St. Lawrence Market, the location couldn't be more desirable. Feel free to try and find anything else in the area for the low $700&rsquo;s per square foot &mdash; spoiler alert, you won&rsquo;t.Like the majority of condos on this list, at 65 Scadding you&rsquo;re going to find larger than average unit sizes and a blend of some beautifully renovated units, and others in their original (very dated) condition.Turnover is a bit on the lower end for a building of this size, with only 14 units having sold over the past 12 months. With 249 units, about a sale per month is an impressive number and speaks to the general level of contentment among residents.Maintenance fees are a very average $.69 cents per square foot, with hydro paid separately.I hope you enjoyed this article! If you got this far, you might also enjoy our article on the most affordable lofts in Toronto.<a href="https://strata.ca/blog/the-most-affordable-lofts-in-toronto-our-top-picks"> Check it out here.</a>

The Cheapest Condos in Toronto in 2020 - Our Top Picks

<h2>The King Street Pilot Project</h2>The King Street Pilot Project has been&hellip; shall we say, controversial. Many TTC riders have lauded the project for dramatically increasing the reliability of King streetcars &mdash; while others express doubt that the project is actually doing anything positive. However, the increase in daily riders from 72,000 to 84,000 is evidence of a positive trend.<blockquote>all indications are that it will increase the value of condos on or near King Street.</blockquote> Of course, these numbers mean little to driver&rsquo;s who commute in the area and are stuck in traffic, and business owners who claim the project is hurting their sales; there are even a number of restaurants such as Pearl King, which have closed their doors in the wake of the King Street Pilot Project, laying at least some of the blame on the project itself for reducing traffic on the street.Many would argue however, that Pearl King had it coming, regardless of the Pilot Project, and that the drivers are experiencing the smallest increase (less than 2 minutes during rush hour) in traffic.On April 16th, 2019, Toronto City Council voted to make the project permanent &mdash; and though some might not welcome this announcement, it&rsquo;s absolutely essential that a growing city continues to improve public transit and encourages more people to rely on it. Reactions have varied from overjoyed to defeated, but overall, most see this as a positive for TTC riders, businesses, and the city in general. Drivers should be among those in the overjoyed camp, as the improved streetcar transportation along King St will only discourage more Torontonians from buying/leasing cars and further congesting the roads.One thing that isn&rsquo;t being discussed is how this will affect the Toronto condo market now that the project is permanent, which is surprising because all indications are that it will increase the value of condos on or near King Street; though some condo residents in the area may drive to work, it&rsquo;s more likely that residents who choose to live in this area rely on the TTC for commuting.<h2>The Relationship Between Transit Lines and Condo Prices</h2>The pilot project made King Street a more walkable, pedestrian friendly street. Pedestrians no longer need to raise their voices to compete with the volume of loud combustion engines &mdash; they only need to compete with the electric humming of streetcars.For years, TTC riders have knocked the King streetcar for long wait times &mdash; depending on the time of day, you might have been able to outwalk it. But by diverting traffic and providing a protected lane for passengers to board, King streetcars are now a viable choice for commuters.There&rsquo;s a reason developers flock to scoop up property near transit lines: one only needs to examine the flurry of developments that have followed in the wake of the Eglinton Crosstown LRT. Though the King Street Project is improving existing transit lines as opposed to creating new lines, this news is likely to leave developers and investors alike feeling giddy.Considering that the project extends from Jarvis all the way to Bathurst, there are several neighbourhoods that could see a bump in property values. And given how successful the pilot was, Toronto City Council is already considering other areas in the city. It remains to be seen where the next pilot project will take place, but you can bet that buyers, sellers, and investors will be keeping an eye out.<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/34/map-of-king-street-pilot-project-in-toronto-strata.ca-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/34/map-of-king-street-pilot-project-in-toronto-strata.ca.jpg"/><img src="https://strata.ca/slate-image/article-images/34/map-of-king-street-pilot-project-in-toronto-strata.ca.jpg" alt="Map of the King Street Transit Pilot in Toronto by Strata.ca"/></picture><h2>List of Condos Within the King Street Pilot Project</h2>- <a href="https://strata.ca/toronto/1-king-st-w-one-king-west-hotel-residence">One King West Hotel &amp; Residence</a> - 1 King St W- <a href="https://strata.ca/toronto/7-king-st-e-the-metropole-condos">The Metropole</a> - 7 King St E- <a href="https://strata.ca/toronto/37-king-st-e-22-leader-ln-king-edward-private-residences">King Edward Private Residences</a> - 37 King St E- <a href="https://strata.ca/toronto/92-king-st-e-king-plaza">King Plaza</a> - 92 King St E- <a href="https://strata.ca/toronto/150-king-st-w-mirvish-gehry-condos-toronto">Mirvish + Gehry Condos Toronto</a> - 150 King St W- <a href="https://strata.ca/toronto/224-king-st-w-theatre-park">Theatre Park</a> - 224 King St W- <a href="https://strata.ca/toronto/355-king-st-w-115-125-blue-jays-way-king-blue-condos">King Blue</a> - 355 King St W- <a href="https://strata.ca/toronto/357-king-st-w-357-king-condos">357 King Condos</a> - 357 King St W- <a href="https://strata.ca/toronto/375-king-st-w-m5v-condos">M5V Condos</a> - 375 King St W- <a href="https://strata.ca/toronto/393-king-st-w-the-393-on-king">The 393 On King</a> - 393 King St W- <a href="https://strata.ca/toronto/401-king-st-w-401-king-street-condos">401 King Street Condos</a> - 401 King St W- <a href="https://strata.ca/toronto/438-king-st-w-the-hudson">The Hudson</a> - 438 King St W- <a href="https://strata.ca/toronto/478-king-st-w-victory-lofts">Victory Lofts</a> - 478 King St W- <a href="https://strata.ca/toronto/560-king-st-w-fashion-house-condo">Fashion House Condo</a> - 560 King St W- <a href="https://strata.ca/toronto/620-king-st-w-kingly-condos">Kingly Condos</a> - 620 King St W- <a href="https://strata.ca/toronto/629-king-st-w-thompson-residences">Thompson Residences</a> - 629 King St W- <a href="https://strata.ca/toronto/650-king-st-w-six50-king">Six50 King</a> - 650 King St W

Pilot No More: How The King Street Project Will Impact Property Values

The 10 Most Sought-After Toronto Condos

In the Greater Toronto Area, overall condo values have gone up over the past 60 days, with the average sale price currently sitting at $669,000. But there are neighbourhoods throughout the GTA where condos are still selling below the regional average:<ul><li><a href="https://strata.ca/east-york/old-east-york" target="_blank">Old East York - East York</a></li><li><a href="https://strata.ca/north-york/flemingdon-park" target="_blank">Flemingdon Park - North York</a></li><li><a href="https://strata.ca/toronto/etobicoke/etobicoke-west-mall" target="_blank">West Mall - Etobicoke</a></li><li><a href="https://strata.ca/mississauga/dixie-applewood" target="_blank">Dixie-Applewood - Mississauga</a></li><li><a href="https://strata.ca/markham/thornhill-markham" target="_blank">Thornhill - Markham</a></li></ul>Despite the anticipated activity of the upcoming spring market, homebuyers can expect to find value in these neighbourhoods. In Old East York and Flemingdon Park, for example, the average sale price of a condo is $495,000. In the Etobicoke neighbourhood of West Mall, condo values still remain down by nearly 4% in the past 60 days, with an average sale price of $550,000.<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/95/Below Average Chart-600.png" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/95/Below Average Chart.png"/><img src="https://strata.ca/slate-image/article-images/95/Below Average Chart.png" alt="Below average chart"/></picture><h2>Neighbourhoods filled with &lsquo;1st generation condos&rsquo;</h2>The above neighbourhoods are dominated by what the industry calls, &lsquo;1st generation condos&rsquo;. Built in the 70s and early 80s, these buildings offer some of the best price-per-square-foot value in the city. But according to Nathaniel Hartree-Hallifax, a real estate agent at <a href="https://strata.ca" target="_blank">Strata.ca</a>, the pandemic&rsquo;s impact on immigration is what&rsquo;s driving prices down.<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/95/nadine-shaabana-YnbK7cgQPGQ-unsplash-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/95/nadine-shaabana-YnbK7cgQPGQ-unsplash.jpg"/><img src="https://strata.ca/slate-image/article-images/95/nadine-shaabana-YnbK7cgQPGQ-unsplash.jpg" alt="building from toronto"/></picture>&ldquo;The value found in 1st generation condos is enough to attract many first-time buyers, including new Canadians getting on the property ladder. But given there are fewer immigrants moving to the GTA at this time, I think it&rsquo;s easy to see why prices are softening in these neighborhoods.&rdquo;Hartree-Hallifax says that homebuyers should take advantage of this shrinking demand, and explore what their options might be.&ldquo;In softer markets, you&rsquo;re more likely to be able to negotiate a sale with beneficial conditions and a better price. For potential homebuyers locked out of hotter neighbourhoods, these areas might be a welcome change. But don't wait too long. The closer we get back to pre-COVID times, the quicker these dynamics will revert,&rdquo; he adds.Still though, homebuyers should always do their research before investing in a 1st generation condominium. Many of these units lack modern conveniences, and some older buildings simply do not have the infrastructure for future upgrades.&ldquo;Given the chance to build equity, many people will forgive the fact that there&rsquo;s no ensuite laundry or central air conditioning. And they may think these things can be added later through renovations. But understanding which buildings can be improved, and which can't, is crucial. This will have an important impact on price and resale value,&rdquo; says Hartree-Hallifax.<h2>Suburbs still on fire, but deals to be found in certain pockets</h2>Properties in the GTA suburbs have been a hot commodity since the start of the COVID-19 pandemic last March. In the past 12 months, Mississauga and Markham have both seen condo values soar by 9% and 14% respectively. But Robert Van Rhijn, Broker of Record at <a href="https://strata.ca" target="_blank">Strata.ca</a>, says homebuyers on a budget can still find condos here for less than the GTA average.<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/95/jason-ng-twpgpyhZU34-unsplash-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/95/jason-ng-twpgpyhZU34-unsplash.jpg"/><img src="https://strata.ca/slate-image/article-images/95/jason-ng-twpgpyhZU34-unsplash.jpg" alt="Mississauga absolute world buildings"/></picture>&ldquo;People who want to make the move to the suburbs can find pockets in Mississauga and Markham where condo prices are still relatively cheaper. In the Mississauga neighbourhood of Dixie-Applewood, for instance, the appreciation rate over the past 60 days remains modest at just 1%.&rdquo;Van Rhijn adds that while property values in Thornhill have seen a recent surge, that doesn&rsquo;t mean homebuyers and investors should overlook the popular Markham community.&ldquo;For sure, property values in Thornhill are up a staggering 18% over the past two months alone. But we're still seeing condos selling slightly below the GTA average here,&rdquo; he says.<h2>Condo Listings in the GTA&rsquo;s Most Affordable Neighbourhoods</h2><h3>Old East York</h3><ul><li><a href="https://strata.ca/toronto/minto-skyy-1048-broadview-ave/unit-1004-e5125634" target="_blank">1048 Broadview Ave, Unit 1004</a> - $500,000</li><li><a href="https://strata.ca/toronto/crescent-town-condos-1-5-massey-sq-6-12-crescent-town-rd/unit-1717-e5132754" target="_blank">5 Massey Square, Unit 1717</a> - $449,900</li><li><a href="https://strata.ca/toronto/crescent-town-condos-1-5-massey-sq-6-12-crescent-town-rd/unit-404-e5121922" target="_blank">2 Crescent Town Rd, Unit 404</a> - $475,000</li></ul><h3>Flemingdon Park</h3><ul><li><a href="https://strata.ca/toronto/leeward-glenway-condos-95-155-leeward-glenway/unit-302-c5127058" target="_blank">135 Leeward Glenway St, Unit 302</a> - $599,000</li><li><a href="https://strata.ca/toronto/sunny-glenway-condos-10-sunny-glen-way-5-55-sunny-glenway/unit-118-c5126483" target="_blank">25 Sunny Glenway N, Unit 118</a> - $574,999</li><li><a href="https://strata.ca/toronto/wynford-condominiums-20-edgecliffe-golfway/unit-802-c5084785" target="_blank">20 Edgecliff Gfwy, Unit 802</a> - $550,000</li></ul><h3>West Mall</h3><ul><li><a href="https://strata.ca/toronto/summit-royal-condos-625-the-west-mall-627-the-west-mall/unit-1211-w5129522" target="_blank">625 The West Mall Cres, Unit 1211</a> - $549,000</li><li><a href="https://strata.ca/toronto/west-village-i-condos-6-eva-rd/unit-2510-w5132636" target="_blank">6 Eva Rd, Unit 2510</a> - $519,000</li><li><a href="https://strata.ca/toronto/west-village-i-condos-6-eva-rd/unit-211-w5126315" target="_blank">6 Eva Rd, Unit 211</a> - $489,900</li></ul><h3>Dixie-Applewood</h3><ul><li><a href="https://strata.ca/mississauga/applewood-place-condos-1333-bloor-st/unit-1215-w5109032" target="_blank">1333 Bloor St, Unit 1215</a> - $539,900</li><li><a href="https://strata.ca/mississauga/applewood-landmark-condos-1300-bloor-st/unit-2309-w5067926" target="_blank">1300 Bloor St, Unit 2309</a> - $519,900</li><li><a href="https://strata.ca/mississauga/applewood-place-condos-1333-bloor-st/unit-1414-w5130458" target="_blank">1333 Bloor St, Unit 1414</a> - $449,000</li></ul><h3>Thornhill</h3><ul><li><a href="https://strata.ca/markham/thornhill-orchards-condos-50-inverlochy-blvd-60-inverlochy-blvd/unit-1206-n5112588" target="_blank">60 Inverlochy Blvd, Unit 1206</a> - $588,888</li><li><a href="https://strata.ca/markham/johnsview-village-townhomes-1-94-porterfield-cres/unit-na-n5127555" target="_blank">90 Porterfield Crescent</a> - $699,000</li></ul>For journalists: If you&rsquo;d like more information on this report or would like to receive future news releases, please send your requests to media(at)strata.ca.

These GTA Neighbourhoods Still Have Below-Average Condo Prices

Saving for a down payment can feel daunting &ndash; especially in a city like Toronto. It&rsquo;s entirely possible to save up enough to purchase a home, however, as long as you&rsquo;re proactive about it.Confused about exactly how much you&rsquo;ll need to save? You&rsquo;re not alone. For a purchase price of up to $500,000 you can put down as little as 5%, and for homes between $500,000 and $999,999 you will have to provide a minimum of 10% on the portion over $500,000. The down payment on a home that costs over $1 million is much more steep: buyers will have to fork up 20% on the entire purchase price. This means the minimum down payment for a $400,000 home is $20,000, while a buyer will have to put down a minimum of $65,000 for a home that costs $900,000, and $400,000 for a $2 million home.<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/87/downpayment_structure_final-600.png" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/87/downpayment_structure_final.png"/><img src="https://strata.ca/slate-image/article-images/87/downpayment_structure_final.png" alt="Strata deposit structure"/></picture>To complicate matters further, the Canada Mortgage and Housing Corporation (CMHC) also plays a role in what a buyer may choose to put down. Anyone with a high ratio mortgage (less than 20%) will have to pay insurance through CMHC, and just how much insurance will depend on the percentage of their down payment: the premium for 5% is highest, 10% is slightly lower, and 15% is even lower.If you&rsquo;re buying for the first time, you may also be able to take advantage of the Government of Canada&rsquo;s First-Time Home Buyer Incentive (FTHBI). Introduced in September 2019, the incentive offers 5% of the purchase price of an existing home or 5% or 10% of the purchase price of a newly constructed home. The incentive is really more of a &lsquo;loan&rsquo; that cuts down your monthly mortgage payments, and in return you are expected to repay the government after 25 years or when you resell your home.In order to be eligible for the FTHBI, you must currently meet the following criteria:<ul><li>Your total annual household income must be equal to or less than $120,000</li><li>The value of the home you plan to buy cannot be more than 4 times that of your annual household income</li><li>Either you or your partner must be a first-time homebuyer</li><li>You must be a Canadian citizen, permanent resident or non-permanent resident authorized to work in Canada</li><li>You must meet the minimum down payment requirements with traditional funds (savings, withdrawal/collapse of a Registered Retirement Savings Plan (RRSP), or a non-repayable financial gift from a relative/immediate family member)</li></ul>In order to make the incentive more accessible, however, the government has announced that starting Spring 2021, some of the criteria will change:<ul><li>First-time buyers with household incomes of up to $150,000 will be able to participate</li><li>The home in question will qualify if the value is no more than 4.5 times a buyer&rsquo;s annual household income</li></ul>Regardless of exactly how much you need to save, the Internet has a lot of quirky ideas about how to accomplish your goal. Many of these involve acquiring a metal detector &ndash; but we&rsquo;re not going to send you to any pawn shops. Instead, the following list outlines some of the more realistic routes you can take to save for a new home. It&rsquo;s up to you to decide how big of a leap you&rsquo;re willing to take &ndash; and just like with investments, the more extreme the method, the bigger and faster the payoff tends to be.<h2>Light Commitment, Lower Payoff</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/87/subscription_services-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/87/subscription_services.jpg"/><img src="https://strata.ca/slate-image/article-images/87/subscription_services.jpg" alt="Netlfix and video subscriptions"/></picture>Cancel your subscriptions: We would never advise you to cancel all of your subscriptions, but do you really need Netflix and Crave? If the answer is yes, that&rsquo;s fine too. But at the very least, have a look through your bank account and determine how many monthly subscription fees you are paying &ndash; then simply eliminate the ones that matter least to you, or that you haven&rsquo;t used in a while.Sweat the small stuff: Sure, the advice is normally to not sweat the small stuff, but when you&rsquo;re trying to save big, small but frequent purchases can really add up. Instead of buying daily coffees, try making your own at home (or limit your coffee shop visits to once a week); buy books used instead of new (and feel good about supporting local businesses in the process), or better yet, check them out from the library. If you don&rsquo;t tend to spend much on either of these things, figure out what your specific vice is (in terms of spending), and try to cut back as much as you can.Hack your bank account: Within your own bank account, there are a couple of optional settings you should be taking advantage of. The first is to have a portion of each of your paycheques automatically deposited into a savings account (the amount, of course, is up to you). Most major banks will also let you personalize your account to make recurring transfers from your checking account to a savings account (whether you opt to do this once, twice, or four times a month is up to you) or you can have a set dollar amount moved from one account to another every time you make a purchase with your debit card.Don&rsquo;t let your TFSA go to waste: All Canadians 18 years of age and older (and who have valid social insurance numbers) are able to open a Tax-Free Savings Account (TFSA). Many types of investments can co-mingle in your TFSA, including cash, stocks, bonds, mutual funds, and GICs. The major benefit is that growth on anything in this type of account is 100% tax free. There are maximum annual contribution limits, however, so be sure to check with your bank before making any large deposits into a TFSA.Stick to cash: This method takes a little more self-discipline. Once a week, head over to an ATM and take out the amount you&rsquo;re willing to spend that week &ndash; on everything. Then, any time you head out of the house, leave your debit and credit cards and use your cash instead for things like meals, groceries, entertainment, and even larger purchases. This will force you to become more mindful about what you&rsquo;re spending, as you&rsquo;ll start to see and feel your wad of cash diminish as the week comes to a close. Also, be sure to make a rule for yourself about what to do if you run out of money too early in the week (for example no purchases other than absolute necessities like groceries and transportation), as it might take some time to get the hang of this new way of life.Give the gift of saving: If you&rsquo;re saving to buy a home with a partner, skip large birthday, anniversary and Christmas gifts, and deposit the money you would have spent into a savings account instead. You can even have fun with this by writing sweet cards to each other about how excited you are to buy a home together.<h2>Medium Commitment, Medium Payoff</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/87/dreamstime_dogwalking-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/87/dreamstime_dogwalking.jpg"/><img src="https://strata.ca/slate-image/article-images/87/dreamstime_dogwalking.jpg" alt="Dog walking side hustle"/></picture>Start a side hustle: Life can already feel busy, which is why this method is lower down on our list. That said, if there&rsquo;s something you love to do (or that you&rsquo;re particularly good at), chances are, there&rsquo;s a way to monetize it. Sell your art or home cooking, restore and resell antiques, offer childcare, pet sitting or dog walking services &ndash; the options are pretty well endless here.Change up your transportation: This is more of a commitment primarily because it involves making a significant lifestyle change. If you have two cars, size down to one; if you have one (and if it makes sense geographically), switch to biking or walking, or find someone to carpool to work with. And bonus points if getting rid of a car means not having to pay for parking, or being able to rent out your parking spot to someone else.<h2>Big Commitment, Big Payoff</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/87/dreamstime_boxes_moving_out-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/87/dreamstime_boxes_moving_out.jpg"/><img src="https://strata.ca/slate-image/article-images/87/dreamstime_boxes_moving_out.jpg" alt="Downsizing homes packing boxes"/></picture>Downsize: If you don&rsquo;t necessarily need all the space you currently have, consider moving to a smaller apartment in order to save on rent. This would be temporary, of course, as the end goal is to purchase a home. Reducing your rent by even $200 a month can make a huge difference in the speed at which you can save for a down payment. Better yet, you may be able to stop paying rent entirely if it&rsquo;s feasible (and comfortable) to stay with relatives for a short time.Bunk up: Have an extra bedroom that you&rsquo;ve been using as an office or home gym? If you can give up that extra space for a while and rent it out to a roommate instead, you&rsquo;ll be able to cut your rent right in half without having to move a muscle.

Creative Ways to Save for Your Down Payment

Full disclosure &mdash; as someone who specializes in condos, I have a horse in this race. For years, I&rsquo;ve watched people reluctantly enter the condo market, having abandoned their dreams of owning a large house with a big backyard. It always struck me how these clients had no idea how much of a positive impact this choice would have on the environment&hellip; and frankly at the time, I didn't know either.People typically associate pollution with congested traffic, high-density neighbourhoods, eating meat (more recently) and the downtown core in general, but is that assessment accurate? And does the average weekend warrior in Liberty Village leave the same footprint as a commuting professional in the suburbs?I wish I could say that I&rsquo;m a realtor by day and a climate scientist by night, but I&rsquo;m forced to rely on the information that&rsquo;s available. What I found were two independent studies that suggested a correlation between where someone lived and their carbon footprint.<h2>What the data shows</h2>My search led me to a 2010 paper by Lorraine Sugar and Dan Hoornweg on Greenhouse Gas Emissions in Toronto, which established a link between where people lived and their emission of greenhouse gases. The paper cited Whitby as having the worst per capita consumption in the Metropolitan Toronto area with 13.02 tonnes per capita (carbon dioxide emissions per person).This clearly contrasts with an area like East York, which is removed from the downtown core but has a relatively large supply of apartment complexes, resulting in just 1.31 tonnes per capita. While public transit likely accounts for a lower carbon footprint in East York, this fact also implies that the type of dwelling is also playing a role.These conclusions aren&rsquo;t limited to Toronto &mdash; or Canada for that matter &mdash; supporting evidence can be found in a UC Berkeley study in 2013 which yielded similar results in the US: large urban areas typically have low emissions per person, while the suburbs surrounding those areas often have substantially higher emissions. UC Berkeley&rsquo;s <a href="https://coolclimate.org/maps" target="_blank">CoolClimate Map</a> illustrates this point by mapping the greenhouse gases for the whole of the United States.In both cases, transportation and heating were identified as the major causes of higher emissions. While this provides excellent guidance for how to reduce greenhouse gases, it doesn&rsquo;t address one burning question: Would a condo resident in the suburbs (requiring a commute to work) have the same impact on the environment as someone living in a detached home in the suburbs?<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/42/bright-bulb-close-up-1108572-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/42/bright-bulb-close-up-1108572.jpg"/><img src="https://strata.ca/slate-image/article-images/42/bright-bulb-close-up-1108572.jpg" alt="green-idea"/></picture><h2>Are Condos Better for the Environment than Houses?</h2>There are very few careers that will get you invited into a person&rsquo;s home on a regular basis &mdash; real estate is one of them. I&rsquo;ve had plenty of opportunities to see the difference between living arrangements for condo residents and those with a detached house, and it&rsquo;s obvious to me that people who live in large houses have a substantially larger carbon footprint than condo residents. And not just due to just the inevitable commute to work.A detached house in the suburbs comes with a larger layout than your average downtown Toronto condo; often featuring a longer and linear floor plan in most modern buildings.From my experience, buyers don&rsquo;t purchase large houses for empty rooms. Whether it&rsquo;s a home gym or a media centre, people find uses for open space, and those uses often lead to additional electronics. More space means more energy &mdash; light, heat, and all the toys that come with it. But it's not just what&rsquo;s inside the home, it&rsquo;s also the exterior lighting, home security systems and landscaping.These conclusions are supported by data &mdash; a 2007 Statistics Canada survey clearly demonstrates a trend of increasing consumption corresponding to increased square footage. <a href="http://oee.nrcan.gc.ca/publications/statistics/sheu-euiod07/pdf/sheu-euiod07.pdf" target="_blank">2007 Statistics Canada: Energy Use Inside and Outside</a>Going forward, rising housing prices will ensure that more buyers in the GTA spill over into the condo market. However, some of these buyers will land in ageing condo buildings from the 70s and 80s. So how does the government plan to address these issues? And what will be done to ensure that older condo buildings are energy efficient?<h2>TransformTO</h2>Diverging from the two studies presented &mdash; a 2016 Toronto Greenhouse Gas Emissions Inventory reported buildings as the largest emission polluters, ahead of transportation; however, these figures included industry.<picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/42/toronto-emissions-breakdown.png-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/42/toronto-emissions-breakdown.png.jpg"/><img src="https://strata.ca/slate-image/article-images/42/toronto-emissions-breakdown.png.jpg" alt="toronto-emissions"/></picture>TransformTO plans to reduce greenhouse gas emissions by 80% by 2050, based on 1990 levels. The strategy covers an array of issues, but I wanted to focus on how this will address emissions relating to housing. TransformTo will attempt to do this by:&middot; Ensuring that all new buildings emit zero greenhouse gases by 2030&middot; Retrofit all existing buildings by 2050 in order to reduce emissions by 40 percent.<h2>The Takeaway</h2>TransformTO will bring much-needed action to help address building emissions, but these changes will do little to curb the emissions from large suburban homes, as this responsibility will ultimately be that of the homeowners.Nobody wants to spend their days thinking about how to reduce their carbon footprint &mdash; especially not when it means cutting back on the things we enjoy. But there&rsquo;s one easy way to reduce your impact on the planet and it doesn&rsquo;t require you to stop binging your favourite show: consider the benefits to high-density living.<h3>Citations</h3>&middot; Statistics Canada, 2007 Survey of Household Energy Use &ndash; Supplemental Report&middot; Christopher M. Jones and Daniel M. Kammen, Spatial Distribution of U.S. Household Carbon Footprints Reveals Suburbanization Undermines Greenhouse Gas Benefits of Urban Population Density. Environ. Sci. Technol., 2013, dx.doi.org/10.1021/es4034364&middot; Daniel Hoornweg, Lorraine Sugar, Claudia Lorena Trejos G&oacute;mez; Cities and greenhouse gas emissions: moving forward.&middot; https://coolclimate.org/maps

The Great Carbon Debate: Are Condos Better for The Environment Than Houses?

I field a lot of different questions when I&rsquo;m showing a listing or working with clients. &ldquo;Can a condo burn down?&rdquo; certainly isn&rsquo;t one of them&hellip; Although I thought it would be fun to explore the subject.<h2>The Most Famous Case: Grenfell Tower Fire</h2>One of the worst residential building fires in recent memory would have to be the Grenfell Tower fire on June 14th, 2017, which resulted in the deaths of 72 people. For many of us in Toronto, witnessing the Grenfell Tower burning on international news hit very close to home.In this specific case, the fire began in a kitchen in flat 16 on the 4th floor; firefighters were noted to have responded within minutes of reporting &mdash; as shown in this <a href="https://www.bbc.com/news/uk-england-london-40272168" target="_blank"> BBC Article</a>, they arrived in roughly 5 minutes. What would only become clear later, was that the fire had spread to the cladding before the firefighters even entered the unit, and from there it subsequently raced up the sides of the tower.<blockquote>In comparing the Grenfell Tower fire to significant fires in Toronto condos, it&rsquo;s clear that a lot of the conditions that caused the fire to spread aren&rsquo;t present here. </blockquote>The building&rsquo;s policy was for residents to remain in place in case of a fire &mdash; a policy that relies on units functioning as containers in the event of a fire... But it wasn&rsquo;t the policy that ultimately led to the fire becoming so devastating &mdash; that same policy is recommended by Toronto Fire District Chief Peter Derrington <a href="https://www.oafc.on.ca/article/stringent-provisions-are-place-canadian-cities-well-prepared-highrise-fires-say-fire" target="_blank">here</a> if residents feel they cannot safely evacuate a building &mdash; it was the presence of combustible material used in construction, known as polyethylene polymer. While there are a number of building materials that prevent the spread of fire, this polymer is incredibly combustible, and it helped the fire grow.Other factors included combustible insulation, a smoke extraction system that wasn&rsquo;t functioning, doors that didn&rsquo;t meet fire standards, and a water system that was woefully underpowered. In the end, Grenfell Tower was a dated building that didn&rsquo;t meet current fire codes, and even the parts of the building that had been refurbished weren&rsquo;t adequate. As a result, the building utterly failed to contain what should have been an isolated incident.<h2>Why Toronto condos don&rsquo;t burn down</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/40/nadine-shaabana-786523-unsplash-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/40/nadine-shaabana-786523-unsplash.jpg"/><img src="https://strata.ca/slate-image/article-images/40/nadine-shaabana-786523-unsplash.jpg" alt="Toronto Condo"/></picture>In comparing the Grenfell Tower fire to significant fires in Toronto condos, it&rsquo;s clear that a lot of the conditions that caused the fire to spread aren&rsquo;t present here. Many will remember the 6-alarm blaze at 650 Parliament St in August 2018 &mdash; though it displaced 1500 residents and has caused plenty of headaches for those residents, there wasn&rsquo;t a single casualty.The damage to 650 Parliament St was substantial, but the fire didn&rsquo;t manage to spread to the exterior, which likely prevented it from engulfing the building. One of the main reasons why buildings in the GTA don&rsquo;t burn down is that they all must follow <a href="https://www.ontario.ca/laws/regulation/070213?_ga" target="_blank">The Fire Protection and Prevention Act of 1997</a>. The act itself is so extensive that if I even attempted to cover it most of you would fall asleep. But The Fire Prevention Act of 1997, in essence, outlines a wide range of issues from building requirements to fire safety and even outlines conditions for retrofitting a dated property. These guidelines are strict, and the fines and punishments for ignoring them are significant.Building materials are extremely important, and the combination of concrete and fire retardant materials in Toronto condos has been integral to containing fires, along with the efforts of first responders. Cladding is as much a tool for weather-proofing as it is for fire resistance, and it&rsquo;s usually made up of a metallic liner and a polymer; the polymer is what provides fire resistance.Regulations in Canada dictate that cladding in buildings above 4 storeys must have a minimum fire rating of one to two hours &mdash; meaning that it could resist catching fire for that period of time, allowing for residents to easily evacuate a building if needed.In fact, Canadian regulators have even homed in on combustible furniture in lounges and lobby&rsquo;s, further reducing the risk of a fire spreading. Condo residents in Toronto can have peace of mind knowing that many modern condos now have multiple sprinklers in every unit, and even older buildings have sprinklers in hallways, with strict water pressure requirements.In other words &mdash; even Daenerys&rsquo; fire breathing dragons would struggle to melt a Toronto condo.<h2>How to Protect Yourself</h2>As a condo resident, you&rsquo;re dependent on proper construction and building management, but there are things you can do to keep yourself safe from fire. Regularly checking smoke and CO alarms, avoiding furniture that&rsquo;s made from combustible materials, checking fire extinguishers, and above all, enquiring about the standards and policies employed at a building.You can rest assured knowing that condo developers are held to a very high standard, but it never hurts to ask.

Can a Condo Burn Down?

While your neighbours probably aren&rsquo;t exactly Cheech and Chong or Snoop Dogg &mdash; getting high has hit new heights in Toronto real estate&hellip; smoking cannabis in condos.Since October&rsquo;s country-wide legalization of marijuana, many condo owners and dwellers are concerned with pot smoke permeating their corridors and apartments. In this article we&rsquo;ll look at the pros and cons side of it, how condo boards are dealing with the new marijuana legislation, and how to navigate it as either a staunch non-marijuana user or someone who enjoys the new (condo) high life.<h2>The Argument FOR Smoking Pot in Condos</h2>For those in favour of smoking cannabis in condos it is a legal and rights issue. If something is legal in your country and city then you should not be barred from being able to do so in the comfort and safety of your own home, from being discriminated in terms of renting or purchasing a home, or from being able to produce the amount of product you need and are legally allowed to produce. It&rsquo;s legal, and it&rsquo;s your own home.In terms of growing, if people can create an in-condo vertical garden for things like herbs (the other kind), tomatoes and plants &mdash; why can&rsquo;t they grow the plant of their choice?<blockquote>It is too early to tell how easy it will be for condo boards to ban smoking cannabis in condos (although an 80% vote could prove challenging), and how many condos will do so.</blockquote>With the legalization of smoking, consuming and growing (up to four plants per household) in October 2018 many defend their newly engrained rights. It shouldn&rsquo;t buzz anybody if you want to get a little buzzed.<h2>The Argument AGAINST Smoking Pot in Condos</h2>While some are arguing against smoking weed in condos on moral grounds (a tough standpoint due to the legalization), others are concerned on other grounds. Why should they be subject to the smell and effects if they don&rsquo;t want to be participants to it? Will it affect the sale price or rentability of their investment? Will condo boards retrofit buildings to decrease the permeability of cannabis smoke to improve the air and scent quality of those not looking to partake?Many are concerned that like many houses on the market, condos could become grow-ops when people exceed the legal growth amount. The mould damage caused by illegal grow-ops can exceed tens of thousands of dollars in homes, but in condos this could potentially infect neighbouring units.The argument about property value is important, since according to a ZooCasa survey, &ldquo;over half of homeowners &ndash; 57% &ndash; felt that growing even the legal amount of cannabis would have a negative impact on a home&rsquo;s value.&rdquo; That survey also states that 52% of people are stigmatized, and would look adversely on purchasing a home that had grown even legal amounts of marijuana. About 15% of survey respondents indicated they would consider growing marijuana in their property.<h2>How Condo Boards are Prepping for the Marijuana Infusion</h2>Most condo boards are scrambling to come up with a plan to deal with the increase of smoking cannabis in condos. The challenge comes in being able to regulate it within their (often slow-moving) rubric of rules and processes.The most common solutions being drummed up are to:1. Change the Rules entirely &mdash; which would require a very proactive board.2. Amend the Declaration &mdash; which would require an 80%+ majority vote to prohibit the smoking of cannabis in condos or on the property and would likely be tied to cigarette smoking.3. Not deal with it &mdash; which would leave people up to the mercy of existing rules and would address concerns individually as it came to complaints of damages and inconvenience.If a condo board opts for number three above, it will leave neighbours to deal with each other. In the best case scenario people will be very &lsquo;Canadian&rsquo; about it and be as nice as possible to accommodate others. In the worst case scenario, battles will broil in condo board meditations. Those friendly neighbours looking to minimize the impact have a number of options to reduce the smell of the marijuana they smoke.&ldquo;All the research shows <a href="https://www.businessinsider.com/alcohol-marijuana-which-worse-health-2017-11" target="_blank">alcohol is actually more harmful than smoking marijuana</a>. So I&rsquo;d personally write this off as a non-issue. However I suspect some people, particularly parents with young children, may have a problem with this&rdquo; says Robert Van Rhijn, owner of Strata.ca. &ldquo;Some condos are beginning to ban smoking altogether &mdash; tobacco and marijuana. I think the subject of smoking pot in condos will make an outright smoking ban more of a trend.&quot;<h2>What YOU Can Do:</h2>If you&rsquo;re one of the 61% of Canadians who are firmly against smoking cannabis in condos, or part of the 21% who are for it &mdash; what can you do to protect yourself?If you&rsquo;re looking to [buy a condo][4] now or in the near future you can ask for their board&rsquo;s regulations and examine their specific stance on cannabis smoking. If it doesn&rsquo;t fit your ideals &mdash; move on. Trying to move in and change an existing rule is like David fighting a high Goliath. It&rsquo;s not worth the hassle.If you&rsquo;re a current owner in a condo building wondering where your fate is destined to, you have a voice. However it&rsquo;s only one voice. If there is no grandfathered-in regulation about not smoking then you&rsquo;ll generally require an 80%+ majority to change the rules. However, considering that less than 80% of people are avidly against it, this might be tough. Unless the pro-smoking-pot people in your condo fail to get organized (which let&rsquo;s face it, is a very real possibility&hellip;although no guarantee), you will be in for a fight.Should you fail to receive a majority vote there are retrofits to your unit that you or the condo itself could do to minimize the migration of smoke from one unit to another, such as additional caulking, filters, etc. If your building has a non-smoking provision, it is possible that the smokers will be required to solve smoke penetration issues (at their own cost).<h2>Options for Pot Smokers:</h2><picture><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/29/00_toronto-smoking-cannabis-in-condos-strata-600.jpg" media="(max-width: 600px)"/><source type="image/jpeg" srcSet="https://strata.ca/slate-image/article-images/29/00_toronto-smoking-cannabis-in-condos-strata.jpg"/><img src="https://strata.ca/slate-image/article-images/29/00_toronto-smoking-cannabis-in-condos-strata.jpg" alt="null"/></picture>If your building has gone &mdash; or will be going smoke free, you have to just eat that decision. Literally. Edibles are a rapidly growing market! If smoking pot in your building is causing you the distress that makes you want to turn off reality for a moment with a little green TLC, you have the option of edibles, which can make everyone happy&hellip;including you.There have been cases where condos look to ban all marijuana products including edibles, however that would be a slippery slope; if all marijuana, why not alcohol or anything else ill-fitted to the healthiest lifestyle.<h2>Conclusion</h2>Oh Canada &mdash; we&rsquo;re in trouble. We&rsquo;re entering a foggy (if not smoky) era where rules are unclear and people be tripping. And results are, well, hazy.It is too early to tell how easy it will be for condo boards to ban smoking cannabis in condos (although an 80% vote could prove challenging), and how many condos will do so. It is also hard to say how smoking and growing will affect condo values. Currently it is a case-by-case assessment. If you feel strongly one way or another and are looking to purchase a condo, contact us &mdash; we can offer you some advice on what to look for in terms of regulations about specific buildings and overall how to broach the subject.

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