This one-bedroom apartment near Chinatown leased for $2,300 — up 21% from last year. What it says about Toronto’s rental market

Had the unit been leased at the list price it would have increased by 10.5 per cent, but there is a growing trend of landlords choosing applicants who put down offersWhile the apartment itself appears to be of a decent size and in good condition, overall “it’s pretty mid,” Litchmore said.

“In the current market … I think renters’ standards are lower,” he said, adding that people looking to rent are prioritizing having a good location and a clean unit. “Everything else is negotiable.”over asking, but the final price actually places it on par with the average one-bedroom unit on the market. South of Bloor Street, prices for units of about the same size — between 500 to 599 square feet — are averaging $2,300 since July, Litchmore said.

The price increase just surpasses the average price increase for Toronto, where one-bedrooms are being leased for 19.4 per cent more than they were at the same time last year,But looking at other apartments nearby, Litchmore said the unit could have ended up at an even higher price if it had been on the market longer.

In the area, prices for similar-sized apartments have been leased for prices ranging from $2,200 to $2,550 since July, he explained.Because demand in Toronto is expected to continue increasing, so too are costs, real estate experts say, predicting

Worst time to buy too, given the rates of interests and all the while talks about'affordable housing' are circulating!...dah!

solution: stop immigration.

'I chose to live in one of the most expensive cities in North America, and for some reason things are expensive! It's not fair!'

So don't live in chinatown.

Ban 4N & non-resident ownership. Ban Airbnb & like platforms. Cut immigration & 4N students. Ban REITs that aren't purpose built rental. Raise interest rates. Tax 4N capital used to purchase real estate at income tax rates. Do ANYTHING about 💰 laundering. Address toxic demand.

The city needs to pass rent controls measures now.

Tent lifestyle is looking better for the local economy, growing billionaires these days.

So a single person making minimum wage would make around 40k gross. Rent would take all but 2k of that approximately. That'd leave them with about $2,000 for groceries, utilities, necessities, other bills (school debt?). That's under $170/month. Who could survive?

That Chinese Fentanyl market is booming

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