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2019 Toronto Condo Market Expected to be Healthy and Balanced, with Moderate Price Increase by 5%

By CondoWong.ca Saturday Jaunary 5, 2019

Happy New Year! May the new year bring in lots of happiness and a bright year ahead! Let's keep you up to date on the condo market.

A Look Back at the 2018 Toronto Condo Market

  • Pre-construction prices rose by 12%
  • Resale prices rose by 7.5%, with an average price of $595,678
  • Construction costs rose by 10%
  • Rental demand was at the highest in 30 years, rent increased by 10% with an average rent for a 1 bedroom unit at $2,065 per month.

回顧2018Condo市場

  • 樓花價錢上升12%
  • 二手價錢上升7.5%,平均價為$595,678
  • 建築成本上漲10%
  • 租務市場需求達30年來最高,租金升幅高達10%, 一房單位平均租金高達每月$2,065

A Look Ahead to the 2019 Toronto Condo Market

  • 2019 is expected to see a healthier and more balanced market, with a moderate price increase of 5%
  • In the past 2.5 years, 200,000 people have moved into Toronto, with 150,000 new jobs created. New immigrants will continue to be a driving force for the condo market in the next few years
  • With ever increasing construction costs, pre-construction condos will launch at high prices, but on the other hand, this year will offer the best selection of prime A+ sites
  • The "offer bidding" situation in the resale market should cool off a little and this could very well be the best time to get into the market
  • Rental demand will continue to be very strong, but the increased number of newly completed units will help to moderate the growth in rent, to around 4-5%

展望2019Condo市場

  • 即將步入一個比較健康和平衡的市場,預料只會微升5%
  • 過去兩年半,有20萬人湧入多倫多,造就15萬個新增職位。預料未來數年移民仍會是推動樓市的一大動力
  • 由於建築成本不斷上漲,新盤開價定必比去年更高,但即將會是有最多靚地皮給大家選擇的一年
  • 二手市場「爭Offer」的情況應該得以舒緩,大家可以趁機入貨
  • 預料租務需求繼續強勁,但較多新落成單位將會幫助舒緩租金升幅,大概微升4-5%