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Summary Notes of the Toronto Regional Real Estate Board's Economic Housing Outlook for 2020
- City of Toronto to make more emphasis on the Housing Near Transit
- Solutions for the 1 KM problem - The distance between the Train/Subway and a computers home or work. This part of the travel seems to cause the most traffic - solution build near the stations
- Toronto looking for different Housing Mixes
- Current Amount of Listings for Sale and Up Coming New Projects do not meet Current and future Demands
- Currently much more demand than available homes for Sale on the Real Estate Board - Seller's Market
- Most properties are being purchased with 20% down payment or more
- 2/3 of properties are being purchased with mortgages
- Downtown Toronto Condo market Will continue to rise quickly
- Condo Market, personal use is looking for 2 bedrooms units, while investors are still preferring 1-bedroom Units
- Most Large Investors are putting their Money in Industrial Lands
- Expected: 3-4 % Increase in Rental Rates
- Expected: 10% INCREASE in Real Estate Prices in Toronto and GTA
If buying, this year hurry before the price go up even further. If selling, it is going to be a good real estate year.
Contact me, Cristian Vergara, for more information at cvergara@sutton.com.
