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Condominium Sales Surge

November 24, 2011

Courtesy Of The Toronto Star

As recently published in the Toronto Star, Toronto currently has 132 high-rise projects under construction, compared to 88 in Mexico City and 86 in New York City. Wow! The source of the data comes from the September 2011 survey Germany's Emporis Company. Emporis is a well-regarded global authority on multi-storey buildings, who define a high-rise as between 35 and 100 metres high with 12 to 40 storeys. Who knew a building taller than this gets designated as the much sexier-sounding 'Skyscraper!'?

Fortunately for developers, demand for condominiums is matching the extraordinary pace of construction. Toronto condominium sales comprise nearly 61% of the total so far this year, up from 57% the year prior, and October 2011 sales are the second-best ever recorded.

Globe real estate news service PropertyWire consulted urbaneer.com for our opinion on the matter. Click HERE for our latest press!

~ Steven

Photo: Courtesy of The Toronto Star

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