When writing about condominiums, I usually mention the diverse market covering first-time buyers, empty nesters, professional singles and couples, growing families and investors. Another market involves multinational corporations that purchase suites for visiting clients, executives and employees. For businesses that have associates flying into Toronto often, this solution can be quite cost effective when compared with renting rooms in top-quality hotels over time. In addition, by owning, the corporation accrues equity as the years go by.
Adding to its appeal, a furnished condominium suite also feels much more like “home” than a hotel room. Attention to the visiting guest’s comfort creates a sense of good will. The businessperson has a full kitchen for food preparation, should he/she desire, as well as a private bedroom, main living area and of course, use of the building’s amenities.
At Baker Real Estate Incorporated, we get inquiries from corporations, especially in the Financial District, where so many of our bankers, lawyers, stock brokers and other professionals have offices. For weary travellers to Toronto, a condo suite can be a wonderful place to call “home” while they are away from home.