The Future of the Downtown Condo Market

  • Remax-Condos-Plus
  • 19 November 2014

This week I want to talk to you about why the future of the downtown Toronto Condo Market is very bullish. Previously I talked about the statistics, but today I want to talk to those people who are not number crunchers. In fact they’re more visual, just like me.

So there are four observations you need to make;

  1. Immigration. Immigrants all want to live downtown. And they’re use to living in much smaller spaces. That’s why Toronto downtown is so multicultural.
  2. Millennials dominate the new real estate market. Those are the people who don’t want to cut grass. They just want to sit in Starbucks.
  3. Transportation. People today want to walk or bike to work. The one hour commute is not for them. In fact most people downtown don’t even own cars.
  4. Businesses are all moving back downtown. They need new employees. Those are the people who already live in the condos downtown. When you look at all those cranes I talk about, all those buildings are now multi-use. There is office space, retail space, as well as condos.