The condo resale market is just as hot as buyers purchasing new condos. However, the activity is not in the downtown core but outside.
According to the latest report by Strata, condo properties in Oshawa and Burlington are booming in value, as are those located in Hamilton and Whitby.
Here is a list of properties that have increased in value over the past 12 months:
1) Burlington | Lakepoint Condos | 2190 Lakeshore Rd | +53%
2) Toronto | Pears on the Avenue Condos | 127-135 Pears Ave | +41%
3) Burlington | Vibe Condos | 5030, 5010, 5020 Corporate Dr | +40%
4) Oshawa | Wentworth Gardens Townhomes | 401 Wentworth St W | +39%
5) Hamilton | Kenora Townhomes | 250-262 Kenora Ave | +37%
6) Whitby | Sprucedale & Palisades Townhomes | 1-118 Sprucedale Way, 10-34 Palisades Crt | +37%
7) Mississauga | Glen Erin Drive Townhomes | 4171 Glen Erin Dr | +37%
8) Oshawa | Glen Street Townhomes | 1010 Glen St | +36%
9) Oshawa | Pearson Street Townhomes | 222 Pearson St | +36%
10) Oshawa | Dorchester Drive Townhomes | 540 Dorchester Dr | +34%
“Many seniors are cashing out on their suburban homes, and choosing to downsize in these same neighbourhoods,” says Strata.ca broker Cliff Liu. “So they’re also adding to the demand, driving up values even faster in these areas.”