A new report has just been released by The Royal Bank of Canada (a.k.a. “RBC”)
In this report, RBC states that “Toronto’s housing market is the least affordable in Canada.”
RBC, Canada’s #1 Bank is a reputable source. This leads me to believe that this report is accurate.
Having said this, it is always important to do your own due diligence and always ‘question’ the information that is presented to you by the media.
I just showed a client of mine a 3 bedroom, detached home in one of the most high demand and up and coming areas of the City.
This home just sold for $685,000. (Canadian Dollars)
Opportunities still exist for people to buy detached homes at reasonable prices in Toronto.
You just need to know where to look for these opportunities.
If you are a real estate investor looking to purchase your first rental property, you should also seriously consider condos in Toronto.
Generally speaking, condos are a more affordable investment as the price levels are still lower than detached homes.
Where every you end up investing, make sure that you don’t waste any time.
Tags: Buying a condo in Toronto, Canada | Buying a condo in Toronto for investment | Investing in Toronto Real Estate | Buying a condo in Toronto Canada | First time condo buyer in Toronto Canada.