Toronto’s global appeal has driven the residential market to record levels. The sovereign city is a magnet for the world’s wealthy due to its strong economy, lifestyle and world-class ratings. Home to nearly all the major corporations and businesses and the economic hub of Canada, Toronto’s real estate demand continues to increase beyond expectations.
In 2017, property prices in Toronto increased by 18%, while the rest of the world’s prime residential hotspots experienced slowing or falling values. The number of new build properties also reached a record high in 2018.
The ongoing imbalance between supply and demand continues. Despite several restrictions in the real estate and mortgage rules, the area continues to experience strong and steady demand driving prices higher.