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GTA Condos to Become the 'Dark Horse' of 2022 as Buyer Attention Set to Shift En Masse

Author: 
Robert Van Rhijn
Publication date:
June 4, 2022
Article Summary: 

Realtors predict that condos may see a resurgence in 2022 as more people turn away from increasingly unattainable detached homes. Condos in the neighboring suburbs saw some of the biggest gains in 2021, dramatically outpacing Toronto. According to Strata.ca broker, Cliff Liu, buyer focus is set to shift en masse towards condominiums, which could trigger a tremendous revival as detached housing becomes further out of reach. Liu thinks that socializing space is no longer seen as existing solely outside the home, so people understandably want that social space inside their homes. The average cost per square foot (PSF) for a Toronto condo for sale is currently sitting at about $825, up from $714 PSF one year prior.



Keywords: 

GTA, condos, real estate, housing market, affordability, detached homes, townhouse condos, buyer shift, purchasing decisions, condo size, new policies, investment properties, vacant properties, government, rising prices, Toronto, suburbs.



Source Citation: 
Robert Van Rhijn
GTA Condos to Become the 'Dark Horse' of 2022 as Buyer Attention Set to Shift En Masse
June 4, 2022
https://strata.ca/blog/gta-condos-to-become-the-dark-horse-of-2022-as-buyer-attention-set-to-shift-en-masse
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