Real estate statistics for 2015 are now being released, and condominium investors in the GTA can continue to rely on substantial rental prospects for the foreseeable future. Although according to Urbanation, the number of purpose-built rental construction increased to 3,476 units (a 25-year high) in 2015, the number of condo apartments rented through MLS rose 19 per cent, to 27,166. The year went out with a bang, as total lease volume in the fourth quarter increased 26 per cent over the previous year, to 5,628 units.
Looking at the bigger picture, Toronto welcomes a continuous influx of immigrants each year, and they all need places to live. With 23,000 jobs added in Ontario in December, the prospect looks even brighter. Condominiums in the GTA are a viable, tangible, profitable investment. NOW is the time to consider a condo in your financial portfolio, while interest rates are still amazingly low!