Yahoo Finance Here are Toronto's most expensive condos
Home prices have cooled in Canada’s biggest real estate market — except for Toronto’s condo market, which has been on a tear.
The average price of a detached home fell 7.1 per cent. Semi-detached and townhouses rose 1 per cent and 2.7 per cent respectively. Condo prices were up 8.7 per cent to $593,366, which has made some of Toronto’s most expensive condos even more expensive.
Affordability has been the main driver. The average multi-family unit still costs $726,967 less than the average detached home’s price of $1,320,333. But real estate listing site Zoocasa says luxury units are also in hot demand.
Zoocasa dug into the data and created a list of Toronto’s 10 priciest buildings in 2018. Six are located in high-end Yorkville, the rest are spread out among the Entertainment District, Old Toronto, and Summerhill.
The most expensive, per square foot, is the Four Seasons Private Residences at an average of $1,770 per square foot. The priciest unit sold for $4,995,000.
The Residences at the Ritz-Carlton was second, despite higher overall unit prices, at $1,369 per square foot. The least expensive unit sold for $1,425,000.
Third place went to the Exhibit Residences at an average of $1,350 per square foot but the price of entry is relatively low. The cheapest unit sold for $580,000 and the most expensive sold for $1.6 million.
“Several factors set these buildings apart from others in Toronto, including access to five-star amenities like restaurants, notable spa facilities, housekeeping and valet services, and upgraded in-home finishes like high-grade pre-engineered floors and detailed millwork,” said Doug Vukasovic, a Zoocasa agent in Toronto who specializes in the luxury home segment.
“Further, these units are typically larger than the average condo, and fewer suites per floor gives residents greater privacy.”
Vukasovic says listings in these buildings can be hard to come by. For example, 155 Cumberland Street, 118 Yorkville, and 36 Hazelton Avenue all had fewer than 10 sales in 2018.
The rest of the top 10 can be seen in the infographic below.
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