Luxury Toronto Condos

Jitters about the U.S market crisis does not seem to affect the Luxury Toronto Condos that are starting  to come on to the market after years of construction and planning.

With One St. Thomas and The Hazelton Hotel and Private Residences now on the Market, the first of many luxury Toronto condos and condo hotels, we will see their resale market as new owners settle in or move on.

Prices in these projects should increase because of their limited inventory and the fact there will not be many to choose from.

In Manhattan the median sales price of luxury apartments hit an all time high of US$4.3 million in the fourth quarter of 2008, up 28 per cent from the same period a year earlier.

Recently, up to 85 per cent of the luxury real estate Manhattan market has been co-op apartments which have many restrictions that make it difficult for even foreigners and celebrities to own them.

But new developments including the popular Plaza Hotel and 15 Central Park West have greatly increased the supply of Condos and helped lift the average prices.

It was exciting news that The Trump Tower and also The Shangri-La, both broke ground recently and started the long journey upwards, to add to the new Toronto Skyline!

My recentToronto Condo Blog shows a number of Toronto’s Luxury Condo Prices.

Current Luxury Toronto Condos can be found on my Toronto Real Estate website.