A shocking number of condos in Toronto are owned by people who don't even live in them Toronto RealEstate
, a total of 36 per cent of condos in Toronto — which have an average price of $711,171 in the 416 and $687,696 in the 905 — are owned by investors.
In Ontario at large, this figure is a whopping 42 per cent, with more than one in five homes considered an investment property. Businesses were also found to own 13.4 of the province's condo stock for investment, which is more of a trend in Ontario than any other province. The report is the first of its kind from the Canadian Housing Statistics Program, and uses data from 2020, which notably did not include the tail end of the lockdown-era buying flurry amid lower costs and lending rates.
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