The demand for Toronto condos is bigger than ever, and not just by Torontonians. Our market is far more affordable than other parts of the world, like Hong Kong or London. When you consider our multiculturalism, plenty of green spaces, great restaurants and nightlife, it’s no surprise than Toronto is a big draw to foreign investors.
How do our condo prices compare?
Toronto condos currently range between $550 – 700/sq. ft which is significantly higher than 10 years ago, when the average was approx. $350/sq. ft.
How do we compare with the rest of the world? A 2009 article in Time magazine reported a Hong Kong condo selling at $9,677/sq. ft. In London, the average condo will set you back $3738 sq. ft., while high-end condos can go as high as $9500/sq. ft. Want luxury in London? The One Hyde Park condos go for $220 million!
Monaco and Shanghai weigh in at $3574/sq. ft. and $3830/sq. ft., respectively.
Considering the fabulous array of things to do in Toronto, and our comparison to other cities, it’s easy to see how Toronto is the best bang for your buck!
