(Source: CBC News)
The worldwide economic slowdown took a bite out of stocks and real estate values almost everywhere in the world.
But with a record 20,000 new condo units set to come online in 2010, the recession appears to have bypassed that part of the Toronto real estate market.
Love them or hate them, Toronto is fast becoming the city of condos.
The condo building boom that began several years ago is showing resilience, as low interest rates and a steady stream of eager new buyers are sustaining a market that looks affordable by international standards, some experts said.
Condo consultant Barry Lyon said 2010 is poised to be a record year for Toronto condos.
Read the full article “Young buyers drive Toronto condo boom” in the CBC News (December 1, 2009).