Toronto real estate is always a popular topic, and this year there has been much to talk about. First, the pandemic resulted in a massive drop in activity as the world shut down, but then a huge resurgence and major gains across the market. What’s next? We can’t wait to find out. Here are our top five real estate stories of 2020.
Stories of the local housing market are always very well-read, and 2020 was no different. Our annual real estate roundtable was one of the most widely read stories this year, even though everything changed just a month later with the onset of the pandemic.
The big story in real estate is the massive decline in the Toronto condo market. While other properties, especially detached homes, have shown large gains over the last year, the condo market has lagged behind. The desire to get out of the downtown market has also resulted in an exodus to suburbia and small towns across the GTA.
One of our most popular real stories was a spotlight on a sweet Leslieville loft that recently had $50,000 in upgrades before it hit the market. This gem had all the loft fixings including exposed red brick, soaring heights with a flood of natural light, and wood ceilings.
Although rental rates have been a big story in Toronto this year, this one made news not just because of its price tag, but also its 14-month renovation that turned a dated old Rosedale home into a gorgeous stately executive rental home.
Condo expert Brad Lamb answered a few questions about how to start investing in condos. Although the market has slowed to the point of contraction, it is also thought to be an ideal time to buy over the next couple of months.