Condos rise as high as condo sales records (Image: veggiefron)
According to builder’s group BILD GTA, Toronto hit a landmark last month as high-rise condo towers added more than 2,000 units—the first time Toronto has cracked that number. The broader GTA saw high-rise counts spring up as well, and investment in high-rises seems to be increasingly crowding out low-rise condos, according to BILD. (Interestingly, the trend isn’t just in the downtown: even in the suburbs, high-rise numbers are generally growing faster than low-rises.) This is just the latest in the seemingly never-ending series of press releases from real estate boards, builders, banks, sellers and any other parties that have a stake in Toronto’s real estate market. On the other hand, media sources seem to be predicting dark (or at least dull) days for Toronto real estate. So is the GTA market going like gangbusters, or going over a cliff?
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