15 Feb Toronto condo numbers set new records.
Original article via Globe and Mail. Click here to read.
Toronto’s condominium market hit another market milestone as the number of proposed apartments in the Greater Toronto Area passed 380,152 units in 2017, according to a study by market analysts Urbanation Inc.
“Proposed” simply means a development application has been submitted, which may or may not be approved. But that figure is up 6.4 per cent from the 2016’s end-of-year tally of 357,090.
If one regarded the figure as a measure of developer interest, it’s up 49 per cent from just five years ago, when, in 2012, there were 253,768 apartments proposed.