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Tower Revitalization

Toronto Condo News
Publication date:
September 25, 2019
Article Summary: 

A study by StreetEasy using New York City data found that newly purchased condos leased in Q2 2017 earned a median return of 2.5 percent, which has remained unchanged since 2016 and is the lowest since 2010. This study does not account for additional costs of ownership, such as mortgage and closing costs, condo fees, property taxes, repairs, and the cost of obtaining tenants. As a result, leasing out condo suites is becoming less attractive due to high costs and low returns, despite the construction boom and perceived strength of real estate markets in New York City and Toronto.


Leasing, Condo Suites, Unprofitable, Return, Study, StreetEasy, New York City, Toronto, Real Estate, Investors, Sales Prices, Costs, Condo Fees, Property Taxes, Repairs, Tenants.

Source Citation: 
Toronto Condo News
Tower Revitalization
September 25, 2019
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