Toronto Condo option gains ground as price gap with low-rise homes soars to record $251,000

price for a new low-rise home was $705,813 at the end of 2014 while its high-rise equivalent reached $454,476, creating a $251,337 


The gap between the price of a low-rise home and a condominium apartment has reached an all-time high and Toronto builders are pointing the finger at a 10-year-old provincial policy that has encouraged density.

The Building Land and Industry Association said its index price for a new low-rise home was $705,813 at the end of 2014 while its high-rise equivalent reached $454,476, creating a $251,337 gap that is the highest on record.

BILD’s results come as a new survey out Tuesday finds existing luxury home sales continued to climb last year. Re/Max agent Barry Cohen, who specializes in luxury homes, says sales for $2-million or more were up 43% in 2014 from a year earlier.

READ FULL STORY COURTESY OF financialpost

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REAL ESTATE SNATCH is the independent real estate blog of Samir Safadi, Sales Representative of West-100 Metro View Realty Ltd, brokerage it is dedicated to covering Real Estate News, digital culture, social media and technology, providing analysis of trends, Market Data , reviewing new development. Offering Real Estate services resources and guides. Services are provided to prospective buyers and sellers of real estate by Samir Safadi, Sales Representative, West-100 Metro View Realty Ltd, brokerage, duly registered in the province of Ontario, under Real Estate and Business Brokers Act, 2002 (REBBA 2002) and Member in good standing with

 

 

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