The Toronto Condo market is a great alternative choiceto home ownership if you're a first time real estate purchaser or looking to downgrade your present real estate investment because of changes in your private finances or other outside factors. As every year passes, apartments are eating up alarger slice of the total Toronto real estate market with no end in site.

With the Toronto apartment market hot, many construction firms have helped fuel a condo construction boom in the GTA which has been under way for over seven years now. The results of all of that construction is ahuge influx of people moving into the downtown core to live and work.

A fascinating fact : Toronto is the no 1 city in N. America for new apartment construction and availability.

Obviously the people of Toronto as well as the new home construction companies working there are telling us that the people of Toronto are on the lookout for cheaper paths to live downtown.

The median price of acondo in Toronto last year was $225,000 compared with $210,000 in the previous year. While average apartment costs may be rising this number is obviously muchlower than the average value of a new home in Toronto.

The number of home sales in the downtown core, when you include new and resale condos in the mix, greatly exceeds those in the other bits of Toronto and also experiences more competition from consumers helping to drive up the costs for real estate in the downtown core in general.

buying acondo does not have to feel a bit like "settling for less" as most Toronto Condos come with first rate amenities like a large terrace, a great view, a true studio, a location close to public transit or maybe even aswimming pool or gymnasium in the building.

If this is your first foray into real estate ownership or you are an existing homeowner who want to cut back their debt load you can have confidence that investing in the Toronto condo market will be a profitable investment call.

Toronto has indeed earned it's reputation as the top market for condos in NorthAmerica with over 260 projects planned or already under construction. "Deteriorating affordability levels in major Canadian centers have led onto the resurrection of the condo lifestyle in fresh years," recounted Michael Polzler, executive VP of Re Max Ontario-Atlantic Canada.

With the expenses associated with home ownership continuing to climb upwards year after year condos can help to perform a part in bridging the opening for people who want to invest in Toronto real estate but can't afford to purchase a home. This option becomes quite enticing to first time customers or purchasers without a large amount of responsibilities such as having a giant family to plan for.

While apartment costs might be heading upward, there's still possibilities for the bargain hunter to find a condominium in a pleasant neighborhood for less than $125,000. The advent of the web has made finding these bargains easier than ever with the MLS as well as personal sale real estate sites easy to access.

With record sales in 2007, forecasts for the 2008 Toronto real estate sales market ( particularly Toronto apartments and Toronto Lofts ) are lower than 2007 record levels with average prices predicted to rise at a slower pace.

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