Quote:
Originally Posted by mistercorporate
There arent a lot of pre-ww2 condos in Toronto if any, back then they usually rented out houses. Condos/townhomes in Toronto make way more sense, the market here is so bubbly theres no way you'll get good returns renting out rooms in the core. Scarborough is by far the best investment destination for homes or condos in this city since you can get better deals (relatively speaking). All in all, Toronto is a great place to live and work but only a fool would invest in the general real estate market right now given the great investment opportunities elsewhere. Regardless, more investments by suckers means more highrises going up so the skyscraper geek in me will enjoy that at least. I say stick to your existing investment strategy since its working out well for you, Vancouver and Toronto are way overpriced with crushing property taxes (given the ridiculous valuations).
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True there are very few prewar apartments of scale and even fewer are condos or co-op ownership. There are quite a few prewar lowrises and converted mansions out there.
I disagree Scarborough is a good deal. The attractive areas are priced high. The more affordable areas are that way for a reason. Those areas usually get hit the hardest in a correction.
It's an amazing time to invest in real estate in Toronto right now. Just have to be smart about it.