Rental market tightens in GTA

  10/26/2016 |   SHARE
Posted in GTA Real Estate by Eileen Farrow | Back to Main Blog Page

Condos Highrises

There was a 17.3 per cent drop in condo apartments available to rent in the Greater Toronto Area in third quarter of 2016 compared to a year earlier, Toronto Real Estate Board says.

“Demand remains very strong for condominium apartments in the Greater Toronto Area. The key issue in the third quarter was the fact that there was a pronounced decline in the number of units available for rent,” said Larry Cerqua, TREB president, adding that fewer new developments became available to investors in the quarter.

The number of signed lease agreements through the board’s system was down 4.8 per cent while rents increased sharply; a 1-bedroom apartment averaged $1,777, up 7.2 per cent; a 2-bedroom apartment averaged $2,419, up 7.9 per cent.



Condo Market, Condo Rental, GTA News, GTA Real Estate Market, Investments, Landlords, Market Conditions, New Condos, Property Rental, Real Estate, Real Estate Investments, Real Estate Market, Real Estate News, Real Estate Trends, Rental, Rental Market, Rentals, Toronto



Ask Eileen Farrow

Thinking of buying or selling a property, or have a question regarding the real estate market? Fill out the form below and I'll get back to you promptly.