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toronto condos

The end of the COVID-19 pandemic is impacting Toronto's condo market significantly, with data showing that units are now more expensive than they were in the past few years.

Bullpen Research & Consulting Inc and TorontoRentals.com report that this August, on average, landlords and owners were asking for $2,963 per month to lease a condo in the city. This marks a 43% increase from the $2,100 per month residents were paying in 2021.

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Is Toronto your ride-or-die? Are you looking for a way to put roots down in the 6ix without winning the lottery? Are you sick of being baited by questions? Well, then. Let's look at condos.

According to Strata, the city's condo market has dropped by 9% since February, a shift that has sellers willing to negotiate. As a result, buyers are now routinely paying almost 2% under asking, whereas 6 months ago, they were paying 10% over asking.

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If you had the displeasure of dipping into Toronto's condo market in 2020, you probably remember it as a pretty soul-crushing place to explore.

However, according to Strata, a Toronto-based real estate agency, the 6ix's real estate market is actually starting to chill out a bit, offering first-time home buyers a chance to view 416 condos differently.

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Given the Greater Toronto Area's disastrously high real estate prices, you'd assume that any and all penthouse condos located within it would go for well over a million, but, surprisingly, you'd be wrong.

According to Strata, a Toronto-based real estate agency, there are currently five luxurious penthouses in the GTA listing for $750,000 and under, which in case you've been living under a rock since the 1990s, is a now considered a bargain for the area.

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In the past few years, Toronto has seen some cool condo developments, one being Pharrell Williams' condo project that has some jaw-dropping mock-up images.

But this new development underway in Toronto will be another one that's going to mix condo living and a school for students.

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