Toronto’s condo market is still in high demand, even despite the new Ontario foreign-buyer tax. Here are some charts that explain why and how the market is not dying any time soon.
First, construction hit an all-time high in Ontario in the second quarter of 2017. Contractors are building enough to meet the demand in the city.
Due to a high demand and lack of supply for condos in the city, the % growth in rent in Toronto is among the fastest growing in the world.
Here is a map of Toronto condo prices based on the TTC subway stations. Most areas are high in price, unless you reach the east end of the city.
This graph shows how the home price index has grown over the years.
In this graph, we see the difference between the asking prices of high rise and low rise homes. Due to the high supply and low demand of housing, the prices have gone up for low rise housing, which explains the gap between high rise and low rise asking prices.
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