The Toronto real estate market is one we’ll never be able to wrap our head around. A new report from popular condo website Strata.ca just came out, and it offers some interesting insights into the current market. It turns out that some neighbourhoods around town are significantly outpacing others in terms of return on investment for condos.
So let us break it down for ya. According to the report, a few typically-overlooked areas have actually outpaced the downtown core, in terms of condo appreciation rates, by up to 20%. These areas include Jane and Finch, Rexdale, and Malvern.
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Within the report, Strata.ca explains that Toronto’s average condo appreciation rate is about 2% year-over-year. However, these three areas have seen average rates much higher than that. At Jane and Finch, for example, significant condo buildings saw appreciation rates sitting between 19% – 25%. At Malvern, it’s around 18% – 22%. And Rexdale comes in around 10% – 23%.
This is a stark contrast to downtown Toronto, where we’ve actually seen a depreciation of -6% over the past 12 months. Oof.
So there you have it! If you’re looking to invest in Toronto property, perhaps these neighbourhoods are worth considering.
If you’d like to check out the full report, you can hit up the Strata.ca blog right here.