Condo rents hit new high amid ‘seemingly insatiable’ demand
A record 6,541 GTA condos were rented via the MLS system in the third quarter of 2013, up an unprecedented 39 per cent from the same time last year.
By the end of this year, about 20,000 condo units, most of them in the City of Toronto, will have been rented largely to young professionals keen to live near work and major transit lines. That’s up from the 15,355 last year.
The “seemingly insatiable” demand to live close to downtown has driven condo rents to a new high of $1,875 per month and shows no signs of letting up despite a surge of new units coming on the market.
A record 6,541 GTA condos were rented via the MLS system in the third quarter of 2013, up an unprecedented 39 per cent from the same time last year, says condo market research firm Urbanation in a new report released Friday.
By the end of this year, a total of about 20,000 condo units, most of them in the City of Toronto, will have been rented largely to young professionals keen to live near work and major transit lines.
That’s up from the 15,355 rented last year, and 13,674 in 2011, says Urbanation.
And that’s not counting thousands of others that will be leased via classified sites such as Kijiji and Craigslist, making most of those granite and glass skyscrapers sprouting up on the skyline a now critical part of Toronto’s apartment stock.
What’s especially stunning about the quarterly numbers is that they show the escalating impact of investors on Toronto’s exploding condo sector – and how they are dramatically affecting how and where tenants live.
And this may just be the tip of iceberg. The condos now coming on the market were actually bought in the preconstruction phase back between 2007 and 2009 and don’t yet include rentals that will result from the frenzied peak of investors purchasing in 2011.
Most of those 28,190 units – at least 40 per cent of which are believed have been bought by people who don’t plan to ever live in them – won’t be completed, or put up for rent, until at least early 2015.
That coming rush of rentals should lead to a more “balanced” market, says Urbanation, and ease demand that remains so strong, especially for new condos in the core, that bidding wars have broken out.
The report shows that, in just a year, the average size of condos for rent in the GTA has shrunk 20 square feet, to an average 778 square feet. That’s largely because there’s been a big jump, some 91 per cent, in units under 500 square feet.
Those smaller units are popular with investors, and their growing presence on for-rent listings shows that those buyers are “now clearly affecting the condominium rental market,” the report says.
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Price Change. Nov 16: $ 798,800 Sep 24: $ 849,900
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C2771949 – M5A – 334 ONTARIO ST Toronto, Ontario – $ 1,295,000
Price Change. Nov 16: $ 1,295,000 Oct 27: $ 1,395,000
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C2772462 – M2R – 20 CARSCADDEN DR Toronto, Ontario – $ 539,900
Price Change. Nov 16: $ 539,900 Oct 29: $ 553,000
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C2778478 – M3A – 104 PINTAIL CRES Toronto, Ontario – $ 543,800
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Price Change. Nov 12: $ 1,249,999 Nov 16: $ 1,349,999
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Are You Looking For Location And Size? This Is The One! Huge 5 Level Back-Split With Wide And Deep Lot On A Quiet Street Walk To A.Y. Jackson, Ttc And …
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Prestigious Bayview/Steeles Greenbelt Neighborhoodclose To Ttc,Schools,Shops&All Amenities$ $ $ …
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Welcome Home To This Detached Stunning House Located In The Heart Of The City! This Home Features Include: Stainless Steel Appliances, Granite, Hardwood, …
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Fantastic Opportunity To Own A Detached House On Fabulous 62X125 Foot Lot In This Great Location. Close To Ttc, Shopping, School And All Amenities. Great …
C2785486 – M2M – 11 DOVERWOOD CRT Toronto, Ontario – $ 879,000
Solid And Rare Bungalow Offered To Sale With 2Pc Master Ensuite In Willowdale. Fantastic Location With Sunny Southern Exposure, Steps To Yonge Stand Close …
C2785488 – M6E – 538 WESTMOUNT AVE Toronto, Ontario – $ 508,800
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Present All Offers!New Spectacular Sunfilled Custom Home-Llw/O 2 Ravine$ Exquisite Quality Detail g$ Superbly Appoint d$ Outstanding Appl s$ 3 Gas …
C2785509 – M4M – 23 RODEO CRT Toronto, Ontario – $ 668,000
Stunning “”Freehold”” Townhouse On A Child Safe Quiet Court! High Demand””North York””, Walk To Subway, Restaurants, Shops, Grocery & More!! Spacious & …
C2785525 – M2R – 7 DUNBLAINE AVE Toronto, Ontario – $ 1,000,000
Wonderful Opportunity To Build Your Dream Home In Prime Cricket Club Location! Perfectly Situated On A 30 X 130 Incredible South Facing Lot! Very …
C2785539 – M5M – 80 MARMION AVE Toronto, Ontario – $ 1,849,000
Fantastic Opportunity In The Neighbourhood! This Beautiful Custom Built Home Provides The Finest Of Living From Soaring Ceilings Thru-Out, Inc. …
C2785549 – M4S – 342 SOUDAN AVE Toronto, Ontario – $ 1,448,000
Contemporary Davisville Village Superb Renovation! Spacious 4 Bedrm, 4 Bathrm, Detached Executive Style Home. Main Flr Family Rm Walks-Out To Deep 156 Ft. …
C2785624 – M2N – 348 HILLCREST AVE Toronto, Ontario – $ 2,298,800
Magnificent Custom Built Home On Prime Lot 50 X133 In Hillcrest Avenue! Fantastic Architectural Lay-Out With Large Principal Rooms! 5 Bedrooms! …
C2785641 – M3H – 6 BITTEROOT RD Toronto, Ontario – $ 849,000
*In The Heart Of Bathurst Manor *Conveniently Located Near Area Amenities/Transit *Quiet Cul-De-Sac *Fabulous, Private Maturely Treed Ravine Garden …
C2785719 – M2K – 1 REAN DR Toronto, Ontario – $ 619,800
Luxurious Townhouse In Prime Bayview/Sheppard Area. Main Floor 10 Ft. Ceiling With Open Layout. Wood Staircase With Iron Railings, 2-Storey Master Bedroom …
C2785737 – M4Y – 2 WELLESLEY PL Toronto, Ontario – $ 3,200,000
Majestic Rupert Simpson House 1899 – Designated Hertiage In 2000. Very Handsome, Beautifully Restored & Renovated. Construction & Finishings Are Of …
C2785806 – M5S – 26 ULSTER ST Toronto, Ontario – $ 1,339,000
For Additional Property Information, Details And More Photos, Please Click On The Realtor Website Link. 2 1/2 Storey Totally …
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Luxury South East Freehold Townhouse, High Demand & Prestigious Area. Walk To Bayview Village. Great Restaurant, Excellent Shopping. Steps To Subway. …
C2785888 – M6C – 117 ROBINA AVE Toronto, Ontario – $ 599,000
*Beautiful Renovated Detached Home* Opportunity To Live In Humewood-Cedorvale* Charming Mix Of Quality Artistic Finishes And Old World Character* …
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Mary Perram House 1877. Gracious, Historical 3-Sty Comm/Res Bldg With Bsmt Slightly Above Grade. Most Recently Used As A Hospice. Mn Flr Has Nurse …
C2785945 – M5M – 562 MELROSE AVE Toronto, Ontario – $ 1,715,000
Design-Inspired Custom Home With A Flowing & Open Design & Outstanding Attention To Detail & Finish. Ideal For Great Family Living & Entertaining! …
E2753990 – M1L – 67 MCDONALD AVE Toronto, Ontario – $ 399,900
Price Change. Oct 3: $ 349,900 Oct 8: $ 379,900 Nov 16: $ 399,900
Charming 1 1/2 Storey Home On Quiet Cul-De-Sac, Close To All Amenities, T.T.C, Go Train, Schools & Shopping. 3 Bedrooms Plus Den, Modern Upgraded …
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Price Change. Nov 16: $ 269,900 Nov 5: $ 279,900 Oct 9: $ 289,900
Detached Bungalow With Lots Of Potential! Attention: Investors, Handyman, Renovators. Detached Solid Brick Bungalow At …
E2767007 – M4E – 66 WILLIAM HANCOX AVE E Toronto, Ontario – $ 579,900
Price Change. Nov 16: $ 579,900 Oct 20: $ 589,900
Location! Location! Location! Beautiful Upper Beach 2 Storey Freehold Townhouse. All Upgraded, Professionally Finished Bsmt. Open Concept And Laminate …
E2777113 – M1J – 9 STRODE DR Toronto, Ontario – $ 449,900
Price Change. Nov 5: $ 399,900 Nov 16: $ 449,900
Brick Bungalow At Convenient Location. Finished Basement With Seperate Entrance.45X112 Feet Lot.To Shopping Stores,Public Transportation, Schools, …
E2780258 – M1N – 28 CRESCENTWOOD RD Toronto, Ontario – $ 724,900
Price Change. Nov 16: $ 724,900 Nov 8: $ 749,900
Fully Renovated Home On A Desirable Lakeside Street, Lined With Mature Trees On The Waterfront Trail. Modern And Spacious 1010 Sq.Ft Bungalow On Large …
E2785188 – M1L – 194 DANFORTH RD Toronto, Ontario – $ 369,900
Calling All Investors, Builders, Contractors Opportunity Knocks! Solid Detached Home W/ Separate Entrance, Private Drive And Fenced In …
E2785198 – M1P – 83 MONDEO DR Toronto, Ontario – $ 359,900
Tridel Townhome With 24 Hrs Security Gatehouse. Ground Level Entrance To Large Foyer With Direct Access To Private Garage. 2nd Floor Bright Open Concept …
E2785233 – M4B – 2863 ST CLAIR AVE Toronto, Ontario – $ 449,900
A Great Opportunity To Own A Profitable Property At Victoria Park & St. Clair Area.**Own Your Business And Live Free** Very Good Neighbourhood**5 Units …
E2785244 – M1T – 2550 BIRCHMOUNT RD Toronto, Ontario – $ 279,800
Location!! Location!! Your Search Will End Till To Find This Great Comfortable 3 Br House, Absolute Move In Condition, **European Style Town …
E2785257 – M1W – 126 DUSAY PL Toronto, Ontario – $ 299,000
Very Clean & Well Maintained Townhome, Fresh Neutral Decor, Updated Kitchen, Baths, Windows, Roof 2011, Driveway 2011, Electrical Panel And Cozy Rec Room. …
E2785304 – M1V – 72 MONTEZUMA TR Toronto, Ontario – $ 438,000
Great Location! Large, Bright Freehold Townhouse With Double Front Doors, High Ceiling Living Rm. Lots Of Upgrade , Brand New Stove (2013); Newer Hi-Effi …
E2785325 – M4C – 32 CAMBRAI AVE Toronto, Ontario – $ 498,000
Recently Renovated 2 Unit Home On 30? Wide Lot With Lush, Perennial Gardens Front And Back. Easily Converts To Single Family. Updates: New Furnace 2013, …
E2785336 – M1R – 76B WAYNE AVE Toronto, Ontario – $ 989,000
A Fabulous Classic Executive New Home W/Stone Front On A 41.27 Ft X130 Ft Lot. 4+2 Bedrooms & 5 Washrooms. Approx 3200 Sq Ft Plus 1600 Sq Ft Finished …
E2785350 – M1P – 18 STOKEWELL PL Toronto, Ontario – $ 439,900
***Premium Pie Lot On Cul-De-Sac***Ideal Scarborough Location. Walking Distance To Scarborough Town Centre. Close To All Amenities, Ttc And The 401. Needs …
E2785380 – M1R – 23 WALBON RD Toronto, Ontario – $ 469,900
Lovely, Well Maintained, Original Owner Wexford Bungalow. In-Law Potential With Seperate Kitchen And Bedroom. Original Hardwood …
E2785432 – M1V – 35 CLEADON RD Toronto, Ontario – $ 429,900
Spacious 3 Bedroom Semi In Demand Location! Separate Entrance To Basement With Kitchen Bedroom With 3Pc Bath, Parquet Floor On Main Flr, Ceramics In …
E2785446 – M1N – 1 HUNT CLUB DR Toronto, Ontario – $ 729,000
Very Unique Hunt Club Bungalow On A Fabulous Lot…Live In As Is …
E2785464 – M1B – 41 BONNYDON CRES Toronto, Ontario – $ 569,900
Gorgeous Detached 4 Bdrm Home Backing Onto Forest. Features & Upgrades Include: Beautiful Formal Liv Rm With Roman Columns; Separate Din Rm With Coffered …
E2785492 – M2P – 130 MORSE ST Toronto, Ontario – $ 695,000
This Elegant Semi Detached Home Is Located In The Heart Of Leslieville On A Quiet Treelined One-Way Street! A Walkers Paradise With A Score Of 97. …
E2785499 – M1E – 289 CORONATION DR Toronto, Ontario – $ 475,000
This Cozy And Charming 4 Bedroom Bungalow Is Located In A Desirable Area. Close To All Amenities And Conveniences. …
E2785512 – – $ 438,649
Comfort,Convenience & Class.North Of Lumsden,Steps To Taylor Creek Park,This Refreshed 2+1 Bdrm Semi Is Ready For You To Settle In & Enjoy.9Ft Ceilings …
E2785523 – M4L – 337 GREENWOOD AVE Toronto, Ontario – $ 549,990
Beutiful East York Home, **Recently Renovated From Outside/Inside Top To Buttom*** Spent $ $ $ On Upgrades, New Paint,New …
E2785579 – M1S – 5 SOUTHLAWN DR Toronto, Ontario – $ 645,000
Take Advantage Of This Exceptional Investment Opportunity In North Agincourt – Prime Size Lot- Fully …
E2785583 – M4L – 142 BELLEFAIR AVE Toronto, Ontario – $ 699,900
Fantastic Renovated Prime Beach 3-Bedroom, 3-Bathroom Semi W/ In-Law Suite! Lovely Open Concept Layout W/ Hardwood Flrs, Rare Main Floor 3-Pc Bathrm, New …
E2785593 – M1K – 98 FOXRIDGE DR Toronto, Ontario – $ 419,900
Sold Brick Bungalow In Good Location, Eat-In Kitchen And Generous Sized Bedrooms, …
E2785609 – M4J – 290 MILVERTON BLVD Toronto, Ontario – $ 519,000
Traditional 3 Br Brick Semi! Mutual Drive + Deep Backyard! Super Convenient Location – Just A Few Blocks To The Danforth In …
E2785622 – M1W – 3 BLAIRWOOD TERR Toronto, Ontario – $ 789,000
A Stunning 5X2 Bedroom Home In The Bridlewood Community With An Inground Pool To Refresh You & Your Guests During A Summer Time Bbq. Close To Ttc, School, …
E2785650 – M1P – 64 ARCHIBALD MEWS Toronto, Ontario – $ 395,000
Specious Freehold Townhouse Situated In A Very High Demand Neighborhood. Walking Distance To Masjid, Elementary & High Schools, Clinics, Freshco And …
E2785725 – M1L – 698 PHARMACY AVE Toronto, Ontario – $ 479,900
Fabulous Newly Renovated Bungalow With Separate Entrance To Finished Basement. Conveniently Located, Close To Schools, Shops, Park, Warden And Victoria …
E2785730 – M1C – 45 GLADYS RD Toronto, Ontario – $ 969,000
Desirable Highland Creek.Short Walk To U Of T Scarb Campus & Centennial College.5 Years Old Detached House,6 Car Parking With Premium Lot With $ 70K In …
E2785739 – M1C – 14 VALMOUNT AVE Toronto, Ontario – $ 575,000
*Gorgeous Home On Huge Private Mature Treed Lot* Demand Centennial Neighbourhood! Nestled On Dead End Street! Well Maintained Bright, Lrg 4 Bdrm, 3 Full …
E2785767 – M1B – 40 APPLEMORE RD Toronto, Ontario – $ 499,980
Original Owner!Large Spacious 4 Level Backsplit Detached With 4 Bedrooms. Very Spacious, Double Garage, Strip Hardwood Floor In Livng And Dining Room, …
E2785771 – M1V – 78 NETTLECREEK CRES Toronto, Ontario – $ 588,000
Location! Location! Location! Excellent Neighbourhood At Goldhawk Area. Walk To Park, School, Ttc, Shopping Mall. Well Maintained, Bright And …
E2785773 – M1C – 31 HAVILAND DR Toronto, Ontario – $ 610,000
This Is Home! Lovingly Maintained Sidesplit In The West Rouge Area On A Rarely Offered Desirable Street! Many Quality Upgrades Throughout The Years …
E2785802 – M4E – 91 KINGSWOOD RD Toronto, Ontario – $ 1,589,900
Wonderful & Unique Home On 50 Ft Ravine Lot On Prestigious Kingswood Road. Incredibly Spacious 3 Storey, 5 Bedrm W/ Multiple Walk-Out Decks W/Modern …
E2785815 – M1W – 122 BELINDA SQ Toronto, Ontario – $ 699,800
Completely Renovated Detached Home In The High Demand Community. Walk To Terry Fox Ps, Bethune Hs. High End Finish, Oak Spiral Staircase, Iron …
E2785872 – M1H – 150 BENLEIGH DR Toronto, Ontario – $ 439,900
** Bright And Sunny Detached Three (3) Level Sidesplit * Large Private Backyard * Real Gem And Fully Renovated With Premium Size Lot With Inground Pool * …
E2785916 – M1J – 30 CENTRE ST Toronto, Ontario – $ 349,000
Location!! Location!! Beautiful Bungalow In Markham & Eglinton Area. Corner Lot. Quiet Neighbourhood. Detached …
E2785936 – M6J – 123 EUCLID AVE Toronto, Ontario – $ 399,900
Comfortable Family Home In An Exceptional Neighbourhood On An Impressive 50 X156 Corner Lot! This Was A 3 Bedroom Bungalow, Converted To 2 And Boasts A …
E2785961 – M1G – 44 GONDOLA CRES Toronto, Ontario – $ 419,333
Stunning Home Wonderfully Designed In A Fantastic Neighbourhhood. Great Family & Friends In The Foyer That Leads To An Elegant Family Rm W/Hardwwod Flrs, …
W2752274 – M3N – 1723 FINCH AVE W Toronto, Ontario – $ 349,999
Price Change. Nov 16: $ 349,999 Oct 23: $ 359,000 Oct 2: $ 364,600
Well Maintained 1459 Sq Ft Home In Yorkwoods Village Backing On Ravine Offers Open Concept Living/Dining Room-Kitchen Area And Sep. Office Space W/Juliet …
W2760655 – M6N – 21 WHITE AVE Toronto, Ontario – $ 494,900
Price Change. Nov 16: $ 494,900 Oct 11: $ 499,900
4 Bedroom 2 Bathroom Perfect Starter Home. Finished Basement With Separate Side Walkout. Large Backyard. Open Concept Living/Dining Areas, 2 Full Baths. …
W2769370 – M9P – 127 SUN ROW DR Toronto, Ontario – $ 705,000
Price Change. Nov 16: $ 705,000 Oct 30: $ 715,000 Oct 25: $ 727,500
Enjoy This Absolute Impecable Well Maintained Home, Premium Lot 48X115,6/3 Rooms Detached, Bright & Sunny, Eat-In Kitchen Plus Combine Working Area …
W2775659 – M6K – 117 COWAN AVE Toronto, Ontario – $ 849,000
Price Change. Nov 16: $ 849,000 Nov 2: $ 874,000
All The Charm And Character In This 1890 s Victorian With 10 Ft. Ceilings Has Been Kept Intact. Stained Glass Windows, 2 Fireplaces, 5 Bedrooms, 4 Full …
W2785185 – M8Y – 1 DANIELS ST Toronto, Ontario – $ 695,000
Totally Reno d Open Plan 3 Br Bungalow In A Serene Country Setting Overlooking Jeff Healey Park (Woodford Pk). This Move-In Ready Family Home Features An …
W2785194 – M6L – 13 KATRINA CRT Toronto, Ontario – $ 509,999
Beautiful 3 Bedroom Semi-Detached Home Approx. 1800Sq Ft. Designer Paint Colors. Features 37California Shutters Throughout The Home. Bright And Spacious1 …
W2785245 – M8X – 72 BELVEDERE BLVD Toronto, Ontario – $ 2,490,000
Be The 1st To Enjoy This Stunning , Custom-Built, Modern Home!Exceptional Attention To Detail &Quality-Spectacular Chef s Kitch With Integrated …
W2785270 – M6S – 25 BERESFORD AVE Toronto, Ontario – $ 899,000
Great 2Story 3 Bedroom Brick Detached Home In Prime Swansea Location! Steps To Bloor St Shops & Subway, High Park & Rennie Park & Lakefront Parkland!!! …
W2785312 – M6M – 187 TOUCHSTONE DR Toronto, Ontario – $ 539,000
Stamped Concrete, Double Door Entrance. Spacious Foyer, Hard Wood Flooring, Kitchen – Stainless Steel Appliances, Granite Counter Top With A Walk Out To …
W2785352 – M8V – 6 SIXTH ST Toronto, Ontario – $ 649,000
Beautifully Renovated Home By The Lake. Like Living In A Park! Meticulous Detail & Thoughtful Design Went Into This Lovely 2+1 W/Lake & Park Views From …
W2785393 – M3N – 69 SHOREHAM DR Toronto, Ontario – $ 457,000
Near The Highly Desired Hullmar Park. This Is Perfect For A Larger Family With Multiple Entrances. It s Minutes Away From Amenities Such As Community …
W2785394 – M3J – 93 CLAYHALL CRES Toronto, Ontario – $ 569,900
University Heights! First Time Offered For Sale. This Immaculate Kept Bungalow Features 4 Bedrooms With A Separate Entrance To A Fully Finished Basement. …
W2785415 – M9N – 195 JOHN ST Toronto, Ontario – $ 445,888
Come See This Weston Village Corner Lot*Meticulously Maintained*Professionally Painted*Open Concept*This Home Offers Plenty Of Extras-Beautiful Crown …
W2785427 – M9B – 94 COWLEY AVE Toronto, Ontario – $ 2,299,000
Architectural Master Piece By John Culmone, Absolutely Stunning Custom Built On 75 Feet By 170 Feet Huge Lot, Approx 5000 Sq Ft Plus 2150 Sq Ft Of …
W2785451 – M8V – 22 GREYSTONE CRT Toronto, Ontario – $ 598,000
Greystone Manors Freehold Executive 3 Bdrm.Reno d Townhome! Private Enclave Setting, Beautiful Decor & Many Upgrades, Spacious 2 Tiered Deck, Steps To …
W2785494 – M6M – 441 BLACKTHORN AVE Toronto, Ontario – $ 549,880
Bright, Airy And Immaculate. This Beautifully Renovated Corner Home Is A Quiet Garden Oasis In The City. Double French Doors Open To An Oversized Deck …
W2785496 – M6E – 246 BOON AVE Toronto, Ontario – $ 549,000
Wow! The Best Price In Corsco Italia! 5 Years Newly Built Semi With High-End Finishes – Stunning Chef Kitchen W/Granite Counter/Breakfast Bar, Open …
W2785551 – M9B – 17 NORTH HEIGHTS RD Toronto, Ontario – $ 799,900
Fabulous And Completely Renovated 3 Bedroom Bungalow In Much Sought After Glen Agar. Offering A Modern Open Concept Layout, Gleaming Hrdwd Flrs …
W2785640 – M9A – 27 ASHLEY PARK RD Toronto, Ontario – $ 1,398,000
“”Xmas @ Your New Address”” Prestigious Edenbridge-Humber Valley Neighbourhood. Charm, Space & Character! Tudor Curb Appeal With Impressive Circular Dr. …
W2785794 – M3J – 25 SHEFFER TERR Toronto, Ontario – $ 649,000
Prime Location. Steps From New Subway And York University. Great Layout, Basement Apt. Upgraded Kitchen. S/S Appliances, Large …
W2785867 – M6L – 96 BECKETT AVE Toronto, Ontario – $ 739,000
Gorgeous Custom Built Raised Bungalow On A Large Landscaped Lot. Open Concept Living Room, Dining Room & A Cook s Dream Custom Kitchen With Solid Oak …
W2785882 – M9A – 82 PRINCE GEORGE DR Toronto, Ontario – $ 899,000
**Prestigious Princess Anne Manor!!** Beautiful Sun-Filled Family Home! Spacious & Bright With Many Newer Windows! 3 Bedrooms, Eat-In Kitchen With …
W2785900 – M8W – 64A ALBRIGHT AVE Toronto, Ontario – $ 919,900
Brand New Construction With Tarion Warranty, Custom Designed Home With Stone/Copper/Cedar Front …
W2785907 – M8W – 24 THIRTY-THIRD ST Toronto, Ontario – $ 675,000
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W2785926 – M8W – 64B ALBRIGHT AVE Toronto, Ontario – $ 919,900
For Additional Property Information, Details And More Photos, Please Click On The Realtor Website Link. Brand New Construction With …