Condo Condos Condominium In 2007, purchasing a one bedroom, 600sq ft condo would have cost you about $230,000 in central Toronto. You could have bought a similar one bedroom plus den, 600 plus sq ft condominium just 10 minutes west of the downtown core, and on the TTC line for about $169,000. Toronto saw an 11% increase in the price of condominiums in 2007. As of 2008, buying a one bedroom condo in central Toronto, will cost you about $270,000, where the average for Toronto condos is $394,000. At the moment you will notice that if you are looking for a condo the supply is limited, which accounts for the incredible increase in price low supply, high demand. Many of the condominiums are coming on the market in 2009, 2010, and later, and prices are expected to continue to increase at a rate of 5-6% a year. Traveling about 20-25 minutes outside of the city’s core increases your options and property affordability. North York, Don Mills, and Scarborough, are becoming locations of choice, especially since they are all connected to the subway, and TTC making down town easily accessible. Homes in Mississauga is another option, which is only 25 minutes to the down town core by car. Two bedroom condos, on average, will cost you about $244,000. The average price of a detached home in Mississauga is about $367,000
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