The Royal Suites of King West Village The Investor Series
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Transcript of The Royal Suites of King West Village The Investor Series
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The Royal Suites of King West VillageThe Investor Series
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Downtown Toronto is in high demand and will continue to grow!
• People want to live downtown. This demand is fueled not just by immigration but by lifestyle changes of younger generations
• Prices for detached and freehold properties are rising so rapidly that condo living will be the only affordable option for downtown living
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• The city has 2.6 million residents. (The 5th most populous city in North America)
• The GTA’s population is projected to increase by more than 44 per cent — to 9.2 million people — over the next 25 years.
• The first results of the 2011 census show the Toronto has seen explosive growth.
• The census echoes what everyone’s been saying:
Toronto has gone vertical.
2011 Census
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Growing up By the numbers
$15 billion: Expected cost of gridlock per year by 2031 (Board of Trade) 9.2 million: Projected GTA population in 2036 (Ministry of Finance) 25: Number of urban growth centres in Greater Golden Horseshoe Region
70% + : Number of people living in buildings of at least 13 storeys, in Downtown Toronto and other
intensified areas within the city
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The 'Manhattanization' of Toronto
• In Toronto, prices for single detached homes and townhomes are projected to go up 30% to 50% in the next decade.
• 83.4% of people in New York City live in Condos or Apartment Buildings.
• Condo living is sure to be the default housing option for those who want to remain in the Downtown Core
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“If you want to live in central Toronto, you’re going to have to live in a condo. Families will be forced to buy into high-density living. It’s the
natural evolution of a city.”
From Toronto Life Magazine Quoted: Condo mogul Brad Lamb thinks Toronto will soon be exactly like New York
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Who Is Buying Toronto Condos?
• Affluent immigrants and foreign investors are lining up with the traditional buyers that include: empty nesters, boomers, and young professional couples and individuals
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Toronto VS. The WorldJust how expensive—or not—is it to buy a condo in Toronto? The city sits at No. 15 out of 94 on the Global Property Guide’s ranking of the World’s Most Expensive Cities, based on average U.S.-dollar prices per square foot of centrally located condominiums (assuming a 550 square feet—one-bedroom unit):
Price in Toronto: $385,000
CHEAP compared to…
Monaco $3,056,270London $1,194,000
Hong Kong $839,000Tokyo $658,000
New York $615,000
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Toronto's new condo mixCondos seem to be getting smaller not bigger
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From The Globe and Mail’s Report on Business:
“Condos have become the de facto new rental supply,” says consultant Barry Lyon. That supply is much more expensive than old rental high-rises. Lyon and other analysts say that renters typically pay 50% more for a new condo unit than they would on rent for a comparable apartment in an aged building.