Investors stoking Toronto condo fever [Toronto Globe and Mail (Ontario, Canada)]
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Source: Toronto Globe and Mail
Investors stoking Toronto condo fever Record prices in the Toronto-area condo market don’t appear to be fazing investors – whether they are living in town or buying from afar. Robin Pope of Pope Real Estate Ltd. saw a diminutive studio apartment arrive on the market recently and immediately thought of his client working in New York. She already owns one Toronto condo unit and was looking to invest in another. The asking price of $47, for a unit in a solid building near King Street East and Church Street appeared fair to Mr. Pope, who toured the unit on her behalf. Story continues below advertisement Some sellers set a low-ball asking price and then hold off offers for a week, but that wasn’t the strategy in this case. Offers were welcome any time. Despite their quick move to offer the full asking price, competing bids soon landed while the seller was on a flight from Dubai. Mr. Pope’s client raised her offer to $51,, but the amount still fell short. The sale price of $515, for 46 squa
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