I read a headline in a Toronto Storey’s article last week and shared it across my social media channels, but I felt like it needed to reach a wider group of people because of the powerful message it conveyed given the global situation we’re in:
‘We’re in the middle of a pandemic. Unemployment is at an all time high. Millions of people are without a job.
And the Toronto Real Estate Market Couldn’t. Care. Less.’
It’s a pretty big statement to make, but as I get more calls and schedule viewings, I realise that there is truth to it. I dug a little and found that in fact, the sales numbers are as staggering as the article suggests. Supply continues to come short of the incredible demand in key areas of Toronto and we still have an issue that’s been ongoing for years – there simply aren’t enough homes for the number of people currently residing in, or moving to Toronto (the GTA alone sees approximately 100,000 new residents annually).
I see the construction of new high rises on every corner, visual evidence that Toronto is indeed the fastest growing city in Canada and among the top 10 largest cities in North America. Expats, immigrants, students, Canadians overseas deciding to come back – they all need a place to live. Be it by their university campus, a highly-ranked school district, a boutique neighbourhood or by the waterfront, they all want a piece of this great city:)
If you’re interested to learn more about how the Toronto housing situation impacts you – as a local resident, student, investor or immigrant, please get in touch with me for up to date figures, stats and trends. In the meantime, please follow me on Instagram @samdinnawi and LinkedIn – Samer Dinnawi for regular updates.
Also, in case you’re curious, please click the below link for the article:
It’s finally summer in the city and I’m looking forward to a great season!