Jane and Finch, Rexdale, Malvern Have Toronto’s Highest Condo Appreciation Rates, Outpacing Downtown Core by Nearly 20% [REPORT]

Jane And Finch, Rexdale, Malvern Have Toronto's Highest Condo Appreciation Rates, Outpacing Downtown Core By Nearly 20% [REPORT]
Condos in Toronto's traditionally-overlooked neighbourhoods have the highest appreciation rates in the city.

Jane and Finch, Rexdale and Malvern are even outpacing the downtown core by as much 20%. Not only are investors maximizing their ROI in these neighbourhoods, but the majority of Toronto's best-performing condominiums are also concentrated here.

The city's average condo appreciation rate is 2% year-over-year.

Jane and Finch has an appreciation rate of 11%. Even Rexdale, which saw condo values plunge in mid-October, has made a surging comeback.

"Because prices downtown are typically higher, people usually look to outlying neighbourhoods for better value. This creates more demand than there is supply, resulting in value increases as buyers compete and outbid one another. Our data shows that sellers in Jane and Finch, Rexdale and Malvern have been the beneficiaries of this trend over the past year," adds Van Rhijn.

Our data shows that the majority of Toronto's highest-performing condominiums are concentrated in Jane and Finch, Rexdale and Malvern for a total of 24 properties.

As appreciation rates increase, he expects some level of gentrification to occur in the years ahead. "As prices rise, we'll undoubtedly see the typical signs of gentrification occur. That means more boutique shops, restaurants and other amenities popping up in these areas. This will result in even more demand among a more diverse demographic of buyers. Both families and investors would be smart to start exploring these neighbourhoods, given they may look quite different 10 years down the road.".