Freehold vs Condo Price Gap Explodes
The pricing gap between the cost of a Freehold property in Toronto (detached & semi-detached) versus a Condo has exploded over the last year. This has been driven by increased demand people wanting more space during Covid, the majority of home-buyers are high income earners whose employment was not affected by the pandemic, historically low interest rates and historically high savings rates.
The last time the freehold-condo price gap surged liked this, condo prices soared 32% over the following 2 years to narrow the price gap.
Don't try to time the bottom. Invest now to secure long-term returns.