21 Nov How many months’ rent does it take to buy a Toronto condo?
Original article via The Star. Click here to read.
Toronto’s condominiums are continuing to soar in price — but a new study has found that there are still areas in the city where less than a year’s worth of rent is enough for a down payment.
New research from real estate brokerage and website Zoocasa Realty Inc. ranks 35 neighbourhoods in the 416 by the amount of time it would take to save for a condo down payment if you didn’t have to pay local rental costs.
The most affordable condos were in West Hill and Centennial Scarborough, where it would take 7.7 months’ worth of rent for the minimum down payment on a condo.CLICK FOR THE FULL ARTICLE