What You Must Know About Toronto Commercial Real Estate

Toronto commercial real estate imageThe Toronto commercial real estate is diversified and too complex to be understood by anyone who is not a specialist in commercial really estate services or one who does not understand how real estate’s work. This is why you must partner with a well established real estate firm that provides real estate services if you are looking for a property to buy. The following information can be helpful if you are considering buying property in Toronto.

There are plenty of real estate firms that offer a number of services such as valuation, residential project, consulting and research. They can be relied on if you are looking for commercial real estate property to buy, lease or rent.

According to the latest news released by the president of Toronto Real Estate Board, there has been an increase in the number of homes sold in Toronto. It has been reported that over 6,338 homes had been sold by February 2015. This represented 11.3 percent increase compared to the sales that had been recorded by the same period in 2014. The president announced that the number of industrial and commercial spaces that had been leased had increased to about 553178 square feet. The results had increased by 38% compared to the space that had been leased over the same period last year.

It appears that the low temperatures that had been witnessed in Toronto in the month of February did not reduce the number of people purchasing homes or affect Toronto commercial real estate listings. Most of the households place more emphasis on owning homes which is viewed as a long term investment. The brightening of the market condition is what has led to stiff competition among the buyers. On average, the price of a home in Toronto by February was estimated at $ 596,163. The huge price increase signals that there is a significant growth in the demand for houses while the supplies of the homes seem to be restrained. The types of homes that are highly demanded include the semis, the singles and townhouses.

According to the report released by the president of the Toronto Real Estate Board, the number of condominium that had been sold in the fourth quarter of 2014 was 4, 975. This was an increase of 8.3 percent compared to the number of condominium that had been sold in the fourth quarter of 2013. Lastly, it is worth noting that the number of condominium apartment that were rented in 2014 was more than what was rented in the 2014 by 17 percent.