Ok Zen...I'll try to break it down for you.
Toronto condo values are determined by the demand that they accompany. The demand for condo living in Toronto has never been higher, and proof of that is all of the condo projects, lofts and highrises that have gone up in the last several years....and more that are still to come. Believe me when I tell you that all of these builders have done their market research and they wouldn't be building all of these buildings if there wasn't a market for them. What is there not to understand about my arguement as far as values go? For years Toronto has been underpriced in condo prices! Now, there is an energy in this city, things are happening all around you...take a look! This energy has increased the appetitie for home buyers to purchase in a vibrant city that has so much to offer. Do you think Donald Trump just chooses any city at random to build in? I think not. New York, London, Paris, and Tokyo have been world class cities for years, which goes hand in hand with the high demand to live there, and ultimately the value of real estate in those cities. What I am saying is that we are behind...but not that far anymore. You'll see...Toronto will become a world class city and one day all of those people that were thinking about buying in this city and didn't are going to be kicking themselves and wondering...if only I had done things differently.