New Condo Invesment in Yonge&College

YongeCollege is the heart of downtown Toronto, and is a great place for condo investment.  Let's now take a look at why and how to invest in new condos in Yonge&College through some data analysis.

Why to invest in Yonge&College

  • Nearly perfect high walk score
  • 10 minutes walk to University of Toronto
  • 10 minutes walk to Ryerson University
  • 10 minutes walk to the hospital district
  • 10 minutes walk to Eaton Centre
  • Easy access to subway and street car
  • Very expensive area because the land is scarce

Average Purchase Price for 0-5 years New Condos in Yonge&College

  • For a 340 sq. ft studio, price will be $240,000, so the price per sq.ft is around $706
  • For a 500 sq. ft 1 bedroom suite, price will be $352,900, so the price per sq.ft is around $706
  • For a 600 sq. ft 1 bedroom +den suite, price will be $415,000, so the price per sq.ft is around $692
  • For a 700 sq. ft 2 bedroom suite, price will be $480,000, so the price per sq.ft is around $686
  • For a 800 sq. ft 2 bedroom +den suite, price will be $545,900, so the price per sq.ft is around $682
  • Parking is about $55,000

Resale Market in 2014

  • There are in total 472 transactions in 2014
  • 19 suites were under $300,000, and generally stayed on market for 31 days
  • 139 suites were from $300,000 to $400,000, and generally stayed on market for 20 days
  • 132 suites were from $400,000 to $500,000, and generally stayed on market for 23 days
  • 182 suites were above $500,000, and generally stayed on market for 24 days
  • All the price ranges are almost equally popular , price above $500,000 has the most transactions

Average Rental Income for 0-5 years New Condos in Yonge&College

  • For a 340 sq. ft studio, monthly rent will be $1,500, so the rent per sq.ft is around $4.41
  • For a 500 sq. ft 1 bedroom suite, monthly rent will be $1,700 so the rent per sq.ft is around $3.40
  • For a 600 sq. ft 1 bedroom +den suite, monthly rent will be $1,900, so the rent per sq.ft is around $3.17
  • For a 700 sq. ft 2 bedroom suite, monthly rent will be $2,400, so the rent per sq.ft is around $3.43
  • For a 800 sq. ft 2 bedroom +den suite, monthly rent will be $2,700, so the rent per sq.ft is around $3.38

Rental Market in 2014

  • There are in total 280 transactions in 2014
  • 7 suites were from $1,250 to $1,500, and generally stayed on market for 21 days
  • 47 suites were from $1,500 to $1,750, and generally stayed on market for 19 days
  • 173 suites were from $1,750 to $2,000, and generally stayed on market for 17 days
  • 86 suites were from $2,000 to $2,250, and generally stayed on market for 20 days
  • 25 suites were from $2,250 to $2,500, and generally stayed on market for 20 days
  • 142 suites were above $2,500, and generally stayed on market for 22 days
  • Very high demand for rental, short days on market
  • The most popular type of suite is 1 bedroom and small 1 bedroom+den, rent from $1,750 to $2,000

Recommend New Condo Development in Yonge&College

Grid Condos is a new condo development by CentreCourt Developments currently in preconstruction at 181 Dundas Street East in Toronto. The development is scheduled for completion in 2019. The development has a total of 528 units.

 


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Email: kathleen.xie@century21.ca

Phone: 416-587-8381

Website: www.torontocondosdeal.com

Kathleen Xie

Kathleen Xie

Broker
CENTURY 21 Leading Edge Realty Inc., Brokerage*
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