Toronto has many things that attract people to it. Whether you want to stay in a quiet or bustling district in Canada, Toronto awaits you with some of the finest condominiums in the world. Do you know the average price per square foot for a condo in Toronto? The city boasts numerous neighborhoods offering foodie haven, walkers’ spots, cool destinations, and bohemian hangouts. Students and migrants flock to Toronto to have a slice of its condominium developments.
The average cost of a condo in the city depends on the location, access to public amenities, and state-of-the-art apartments. For instance, DownTown Toronto’s average price per square foot for a condo ranges between $478 /sq. ft. and $1,733 /sq. ft.
Numerous real estate websites can help you get the best average price per square foot for the condo you want to buy in Toronto. Some of the websites include condomapper.ca that has a customized condo listing in every neighborhood in Toronto. Here is a highlight of what to expect in Toronto’s real estate:
Montreal is the strongest in the real estate market, with prices rising in its townhouse and downtown detached house markets. Investors are buying condos in Montreal’s downtown and southwest for around $768.
In Ontario, Newmarket is experiencing an increase in its condo prices. From single-family detached homes to Kitchener semi-detached homes, you can get your desired condo for $399 per square foot. Investors and buyers interested in the British Columbia properties have a similar price with the DownTown Toronto.
However, the Prairie house prices are among the most affordable in the country. The High River condos dropped to $173 per square foot and gradually rising again. Smart investors are taking advantage of the affordable neighborhoods in buying up condos. Toronto’s real estate is rising fast after the COVID-19’s lockdown.
With people coming back to their normal lives and migrants rushing back to Canada, the cost of a condo is rising gradually. Do not forget that you have some percentage of your condo’s down payment. For new buyers in Toronto, they need to pay at least 5% of the total cost of your condo. Homeowners with homes can pay at least a 20% down payment. You have other payments aside from the condo cost to pay in Toronto. With the help of a realtor and real estate agent, you can have a seamless experience in buying your condo.