Record Number Of New Toronto Condo Projects.
Confident Toronto Condo developers have launched a record number of new Condominium units, more than 2,700 in January and February of 2014.
Seeing a surge in pent-up demand especially in Toronto’s downtown core even more Condo projects are planned.
The 2,721 new Condo units are in eight projects that exceed the record year for Condo sales in January and February of 2011.
Recent fears of a Toronto Condo crash never happened and now Condo sales and investor interest are increasing according to Toronto developers.
The February index price of a new Toronto Condo was $559 per square foot, up from $539 a year ago.
Toronto developers with Condo projects already under construction will try to clear a record 23,327 unsold Condo units.
Breakdown of new Toronto Condos Inventory:
- Condos under construction-8,824 units
- Condos unsold-13,212 units
- Condos already built-1,291 units