22 Mar 2011

February a record month for condo sales in Toronto

The latest indication more people are snapping up storage units in the Toronto area? Condominium sales soared in February.

According to the Building Industry and Land Development Association, 2,202 new condos were sold in the GTA last month. That marks the first time more than 2,000 condo units were sold in February, which is usually a slow-moving month.

Stephen Dupuis, the president and CEO of BILD, attributed the rise in condo purchases to, among other things, struggling sales in the low-rise home market.

“The relative un-affordability of low-rise product has caused a huge market shift towards high-rise condominiums, which is fine to a point, but only if steps are being taken to create a more balanced market over the mid- to long-term,” Dupuis said.

Dupuis also said Toronto’s positive economic climate and low interest rates were other factors contributing to the high rate of condominium sales.

There are some indications, however, that the surging Canadian economy may be slowing down. According to Statistics Canada, retail sales dropped by 0.3 percent in January, the second straight monthly decline.

Be Sociable, Share!
Comment

Related Articles [3]

5 Tips To Help You Downsize To A Smaller Home

December 15th, 2015
Sometimes life events bring with them the need or desire to opt for a smaller living space. Unfortunately – though not always – this entails either getting rid or moving...

Toronto home sales jump in July

August 5th, 2013
The latest report from the Toronto Real Estate Board showed that home sales in the greater Toronto area were up 16 percent in July on a year-over-year comparison, marking...

Home prices on the rise in Toronto

July 25th, 2013
A recent report from Remax Ontario-Atlantic Canada indicated that home prices in a number of Toronto neighborhoods are averaging more than $1 million.According to the report,...

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.

Leave a Comment






Recent Posts Blog Categories Archives Subscribe to RSS Feeds
Essential SSL