Toronto Central Real Estate

Business as usual. Developers and brokers are feeling bullish and pressing on with plans for fall launches. But some industry observers have raised the spectre that Toronto’s condo-building frenzy could lead to an oversupply.
George Carras, president of RealNet Canada, maintains that such fears simply aren’t borne out by the numbers.“The market is fine in terms of both demand and supply,” he says. In fact, with the curbing of lowrise home construction around the GTA as a result of provincial policy — which has mandated intensification of existing residential areas — Carras thinks Toronto could be faced with the opposite predicament.
“Instead of oversupply, I think we may not be able to actually deliver enough highrise units,” Carras notes that approximately 80,000 newcomers move to Toronto each year, about 40,000 new units annually are required to have a “perfectly housed market.” http://ping.fm/15vlG