One-bedroom-plus-den units of a similar size and with parking in the neighbourhood have been selling for about $710,000 on average since early January, Walters said via email.The asking price for the square footage is the equivalent of $1,284 per square foot, Walters explained. It’s much higher than the last one-plus-one of that size to sell in the building, which she said went for $695,000, or approximately $1,027 per square foot.
Walters noted that there is a slightly larger unit on the 20th floor, with the same view as 1410, also on sale for $869,000. With maintenance fees priced at $593 per month, or about 87 cents per square foot, this charge is about average for condo fees in downtown Toronto, Walters added.Unit 1410 has been listed three times between 2022 and now. The first two listings expired.
But one characteristic of this unit in particular could be behind the price being higher than others in the building, Walters suggested.
It is when the federal government encourages unprecedented immigration with no plans on where to house them.
The elephant in the room of Canada's housing crisis that TorStar will NEVER mention: Canada's extremist immigration policies.
It is when you let the Chinese buy up all our housing
Too high
That is Crazy
Let's see; I bought 2br+den in 1973 for 24K. It cost me less than 3 yearly incomes of family earning 'normal' income for the day. To buy this ne for 3 yrly you need to make 300K/y. What is normal? Before or now. 300K/y incm wnts 3M house. 10 times yrly incom. U R ruined.
The investor who owns it (says it’s a senior but c’mon it’s a rich boomer) doesn’t get their grossly inflated price they’re just going to rent it. This forces people to pay a ⬆️ monthly lease, keeps it off the market & makes sure ppl are never able to buy at a reasonable price.
This article is BS and a waste of time. Listing price does not mean much. You can put anything as a listing price, just no one will pay for it.
It’s normal if someone is willing to pay it
IT SHOULD NEVER HAVE GOTTEN TO THIS POINT….
Is this where Ontario wants me to live now?
I think it increased.
No It's all going to crash. Mask wearing compliant I d i o t s, let it happen. Destroy small business, kill the job market, then open the immigration flood gates. Bankruptcy will be the new buzz word.
Are you willing to pay $870k for that condo; in that location; with the specific amenities in that building etc... If not...then move along. If yes; that is your choice. The 'market' doesn't decide on the value; it's what someone is willing to pay for it.
It is when the federal government encourages unprecedented immigration with no plans on where to house them.