7 Mar 2011

Condo sales soar in Toronto

With more storage units and homes being built in the Greater Toronto area to accommodate the city’s growing population, the building boom is particularly strong in condominiums.

According to Urbanation, an organization that tracks Toronto’s condo market, sales for condominiums skyrocketed in the fourth quarter of 2010, going from 3,805 in the third quarter to 6,280 between October and December.

“There was a huge jump in sales and that was directly relatable to the fact that we had 29 new projects and 6,500 units that launched in the fourth quarter,” says Ben Myers, executive vice-president and editor of Urbanation, in an interview with the National Post. “A lot of those were large-scale projects and a lot of them did fairly well.”

The report found that investors are the ones mainly driving the increase in condominium sales and construction projects, but a separate report from TD Bank Trust found that baby boomers are buying condos at a prodigious rate as well.

Despite the increase, the report indicates Toronto sales will slow in 2011 compared to 2010. Earlier this month, representatives from Scotiabank said home sales will be more balanced in 2011, starting off strong but slowing down later in the year.

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Hammad Assan joined Jiffy Self-Storage in June 2012. He has over 20 years of experience in various Customer service, Sales and Management roles and is a Certified Self-Storage Operator through the Canadian Self Storage Association. His passion for sales and customer service has maintained Jiffy Self-Storage’s position as one of the GTA’s most successful Storage Facilities, as recognized by winning the Consumer Choice Award 22 years in a row, a perfect A+ rating with the BBB with zero complaints and a 4.5/5 Star Review rating on Google. Our tenants greatly appreciate his dedication to exceptional customer service and as a result Jiffy Self-Storage has been recognized and awarded for that. Please contact Hammad about any of your storage, parking, workspace or retail unit needs.

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