Condo rents reach record high in Toronto despite weakening housing market

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The Toronto Region Real Estate Board says that the average rent charged for one-bedroom and two-bedroom condominiums has reached a record high.

The rental market, however, is showing no signs of slowing down.

The latest data from TRREB suggests that rental listings were down 30 per cent year-over-year in the second quarter, resulting in a significant increase in competition for some units.The vacancy rate for condominium apartments in the GTA also remains extraordinarily low. In Toronto about 1.9 per cent of apartments are vacant while the vacancy rate in other GTA communities ranges from 0.3 to 0.9 per cent.

 

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Increased mortgage rates, condo fees and taxes. nobrainer

Lol thanks for stating the obvious, tell us the plan to fix it!

oh, we know!

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