The fact that condominium sales across the GTA and in the City of Toronto have ballooned over the past few years has a lot to do with the number of investors who are snapping up suites as part of their financial portfolios. Many of these are international buyers and immigrants who recognize the value in our spectacular condos. They come from all over the world and from a wide variety of backgrounds and cultures.
In general, most larger suites go to end-users, and investors, especially foreign investors, select smaller suites that they rent out. The more compact suites that are rented are filling a major void in today’s market. Some investors choose one-bedrooms; others one-bedroom + den suites with two bathrooms so they can rent them as junior two-bedroom units.
Let’s face it – real estate remains one of the most solid investments you can make in Canada. Today’s hot condo market is breaking all previous records, so it’s natural that people who are financially proactive are diversifying their portfolios with condo ownership. If history is any indicator, condo suites are likely to result in a substantial return-on-investment.
As for renters, they know that the amenities and landscaping in a condo will be kept up well, and that with many owners living in the building, their neighbours will take care of their homes. This is a win-win situation. When it comes to our impressive new condominium market, we owe a vote of thanks to our foreign investors.