One in three Torontonians would consider buying a condo purely for investment purposes
Slightly more than one-third of Torontonians (34%) would consider owning a condo solely for investment purposes rather than as their primary residence. 8% have already made this kind of investment.
Across Canada, condo popularity is steadily increasing. Almost half of urban Canadians (48%) indicate they would consider buying a condo as their primary residence, up from 39% in 2007
Toronto is blessed with one of the most vibrant condo markets in Canada in terms of price ranges, building styles and amenities The fact that Torontonians have a wide range of pricing preferences, from low-end to high-end, reflects the variety available to buyers.
With economists predicting improved affordability in Canadian housing markets this year and next, this should make condos even more affordable for Torontonians entering the market for the first time
Less maintenance is still the main attraction for Torontonians
- Energy efficiency is high and growing in importance
- Lowest in importance: "owning a brand new condo"
Source: TD Economics