Is investment in Luxury Condos in Toronto Worth it?
A luxury condo is an expensive investment. In recent years Toronto has seen a rise in property rates. If you are looking to purchase luxury condos in Toronto, though there are many available for sale, they are selling out quickly.There has been a continuous decline in vacancy rates and an increase in rent for the past few years. Condos in Toronto are highly sought after, and competition is intense among buyers. If you are looking for a long term investment, an investment in a luxury condo in Toronto is well worth it. Here are some important aspects of this investment option: - - There is a decent 5% appreciation in property prices for the past few years. While the population of Toronto sees a gradual increase, properties have not been able to keep up with the pace. - This means that demand is increasing every year while supply is not. This works in favor of property owners, who are witnessing a continuous rise in the value of their investment. -