Posted Nov 16, 2018, 8:21 PM
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Registered User
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Join Date: Mar 2008
Posts: 3,729
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Quote:
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No normal person aspires to live in some shoebox sized apartment in the sky.
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Condos alone withstood housing correction, Re/MAX says
(Toronto Star, Tess Kalinowski, Nov 13 2018)
Condos represent more than a third of residential property sales in the Toronto area so far this year, accounting for about 25,000 sales or 36.7 per cent of real estate transactions between January and October this year.
That is up from 30.1 per cent in the same period five years ago, including both new and resale units.
It is the only housing market segment that maintained its upward momentum through the 2017 market correction, according to a report from Re/MAX released on Tuesday. The average price of a condo apartment rose about 8 per cent or about $40,000 year over year in the period between January and October — to $551,761, from $512,552.
Condo townhome prices remained essentially flat in the same period, says the report.
Read it in full here.
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"Where architectural imagination is absent, the case is hopeless." - Louis Sullivan
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