Does the strong rental demand mean it’s time to invest?
October 24, 2017
The Toronto Real Estate Board (TREB) released its third quarter 2017 condo market figures, announcing significant year-over-year price growth and a drop in sales in the Greater Toronto Area (GTA).
“The condominium apartment market segment has exhibited the strongest average rates of price growth since the spring, relative to other major market segments,” says TREB President Tim Syrianos.
“Competition between buyers remains strong, as listings remain below last year’s very constrained levels,” he adds. “Over the past few months, TREB has participated in discussions at various levels of government pointed at developing solutions for the housing supply issue in the GTA. As these discussions continue, it will be important to remember that the condominium apartment market is not immune to a listings shortage.”