FOR
IMMEDIATE RELEASE
growth in leases and rents pick up speed in
the first
quarter
TORONTO
– May 14, 2013: Urbanation Inc.,
the leading source of information and analysis on the Toronto condominium
market since 1981, released its Q1-2013 rental market results today.
A total of 3,919 condominium
apartments were leased in Q1-2013 on the MLS system, up by 31% from a year ago.
Growth in rental transactions continued to outpace growth in rental listings,
pushing average index rents higher by 4.4% from last year to a record $1,856
per month or $2.33 per square foot.
Over the past two years, rents
have risen by more than 10%, equal to an additional $170 per month or 23 cents
per square foot on average.
Units listed for rent on the
MLS system in the first quarter grew by 19% from last year. Out of the 4,859
units that registered in Q1-2013 (the second highest quarterly total of the
past four years), 13% were rented out in the quarter, compared to less than 2%
that were resold.
“Investors are increasingly choosing to hold their units rather than flip them for sale. For the first time in a while, rents are rising faster than prices,” added Hildebrand.
Urbanation is Canada’s leading condominium market
research company. Since 1981, Urbanation has analyzed the Toronto condominium
market, publishing the “industry bible” – Urbanation’s Condominium Market Survey. This quarterly report tracks new, resale
and future condominium projects. The newest report from Urbanation is UrbanRental, which tracks activity in
the condominium rental market. Urbanation also provides the development
community with essential consulting services, which include site and topic specific
market studies and surveys.
416 922 2200
its very big oportunity...and lower cost rent loving it and i want to take this oportunity of condo thanx condo.....
ReplyDelete321 Ocean Condo South Beach | 321 Ocean Condo Miami
Great information about Toronto Condo rentals market. Keep Sharing such nice piece of information.
ReplyDeleteThanks for sharing about Toronto condo rental.
ReplyDeleteNice article about Condo Apartment for Rent, the renting system has developed a lot in the Toronto, this article gives several information about this.
ReplyDeleteVery interesting breakdown, indeed. It’s nice to have such information available in one location and some ideas for new and different directions to take to help one stand out.
ReplyDeletePatrick Hospes and Julie Matthewson
Whether you want to sell toronto condos, sell a downtown condo or search for the rentals condos in Toronto, always prefer the best dynamic sales team of real estate agents
ReplyDeleteCondos are really a safe and profitable option for investing now a days. Condos are beneficial for both the investor and buyer. Keep sharing.
ReplyDeleteRenting Services Toronto
This gives right information of Pre-Construction Pricing .Your site provides good listings.Thanks for nice blog, I agree with you. I got more information about Pre construction condos.
ReplyDeleteThanks for Sharing information Condo Sale Toronto. Really it very good news of Toronto real estate Agents .
ReplyDeleteStill there is a rise in sale and purchase of condos, houses and apartments. 2014 is the year coming up with more investment in real estate.
ReplyDeleteMurrieta Property Management