Real Estate

I think Toronto fair price is $1000 per sqft for condos

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  • Feb 26th, 2017 9:47 pm
[OP]
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Dec 13, 2016
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I think Toronto fair price is $1000 per sqft for condos

Having travelled around the world for the past 10 years (don't envy me, I'm a lot poorer than the average Toronto family with a detached) my conclusion is that a fair price for a downtown Toronto core condo should be around $1000 per square foot. That about half the price of London and New York at today's rates and about on par with Paris and Moscow.

A few months ago I witnessed the opening of Ritz Carlton residences here in Bangkok. While the building is somewhat impressive the surrounding area and Bangkok specifically is a dump.... And this place was sold out at twice the price of Ritz Carlton residences in Toronto. I mean who wants to invest in Bangkok? The place is a joke with poor construction all around....Yet the cranes are everywhere.

Thousand bucks per square meter to live in a first world city where the building will outlive you for decades sounds like a deal to me.
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May 18, 2015
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BiegeToyota wrote: Having travelled around the world for the past 10 years (don't envy me, I'm a lot poorer than the average Toronto family with a detached) my conclusion is that a fair price for a downtown Toronto core condo should be around $1000 per square foot. That about half the price of London and New York at today's rates and about on par with Paris and Moscow.

A few months ago I witnessed the opening of Ritz Carlton residences here in Bangkok. While the building is somewhat impressive the surrounding area and Bangkok specifically is a dump.... And this place was sold out at twice the price of Ritz Carlton residences in Toronto. I mean who wants to invest in Bangkok? The place is a joke with poor construction all around....Yet the cranes are everywhere.

Thousand bucks per square meter to live in a first world city where the building will outlive you for decades sounds like a deal to me.
I would argue its closer to 500$ sq.ft....1000$ per square metre
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Nov 18, 2014
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Toronto, ON
BiegeToyota wrote: Having travelled around the world for the past 10 years (don't envy me, I'm a lot poorer than the average Toronto family with a detached) my conclusion is that a fair price for a downtown Toronto core condo should be around $1000 per square foot. That about half the price of London and New York at today's rates and about on par with Paris and Moscow.

A few months ago I witnessed the opening of Ritz Carlton residences here in Bangkok. While the building is somewhat impressive the surrounding area and Bangkok specifically is a dump.... And this place was sold out at twice the price of Ritz Carlton residences in Toronto. I mean who wants to invest in Bangkok? The place is a joke with poor construction all around....Yet the cranes are everywhere.

Thousand bucks per square meter to live in a first world city where the building will outlive you for decades sounds like a deal to me.
lol
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Feb 24, 2008
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Mississauga
BiegeToyota wrote: Having travelled around the world for the past 10 years (don't envy me, I'm a lot poorer than the average Toronto family with a detached) my conclusion is that a fair price for a downtown Toronto core condo should be around $1000 per square foot. That about half the price of London and New York at today's rates and about on par with Paris and Moscow.

A few months ago I witnessed the opening of Ritz Carlton residences here in Bangkok. While the building is somewhat impressive the surrounding area and Bangkok specifically is a dump.... And this place was sold out at twice the price of Ritz Carlton residences in Toronto. I mean who wants to invest in Bangkok? The place is a joke with poor construction all around....Yet the cranes are everywhere.

Thousand bucks per square meter to live in a first world city where the building will outlive you for decades sounds like a deal to me.
half a mill for 500sq ft....seems reasonable to me Image
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Oct 26, 2003
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but it is priced at $1000/ft²
Penalty Box
Dec 27, 2013
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king west is going for $850 sq ft.
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May 18, 2015
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4seasonscentre wrote: ?????

10.76391ft²=1m²
I meant to have a question mark for the square metre as that is what OP stated at the end of his first post
[OP]
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Dec 13, 2016
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mau_mau wrote: half a mill for 500sq ft....seems reasonable to me Image
It is reasonable....It is very reasonable.

I can show you a few Bangkok listings of units built by a Cambodian slave labour that go for that much.
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Apr 9, 2006
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So if condos should be priced at $1000/ft² ... applying that pricing to a 3000 sq foot detached homes should be at $3M?
What's the best credit card for...
Behold, true glory. #PCMasterRace!
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May 1, 2012
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The fact that you can still buy a lowrise within reasonable distance to the core, for under 1million is astonishing. This should not be that easy.

The problem I think is that people here are accustomed to middle-income affordability. In reality, middle-class earners should not be buying low-rise or even condos in major cities. They should be renters. I am not saying this to be a dink, but that is just how it is everywhere. If you aren't making big bucks, you should be renting or living very far away. I don't think it is right, but it is reality.
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Feb 9, 2009
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Anikiri wrote: The fact that you can still buy a lowrise within reasonable distance to the core, for under 1million is astonishing. This should not be that easy.

The problem I think is that people here are accustomed to middle-income affordability. In reality, middle-class earners should not be buying low-rise or even condos in major cities. They should be renters. I am not saying this to be a dink, but that is just how it is everywhere. If you aren't making big bucks, you should be renting or living very far away. I don't think it is right, but it is reality.
Or tax foreigners... and watch this market crash!?
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May 1, 2012
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Sanyo wrote: Or tax foreigners... and watch this market crash!?
I am not against that tax, but I really think you're overselling the impact of such a tax. One trick pony real estate markets like Calgary and Vancouver can be depressed purely based on squelching that one trick pony. Calgary was oil, and Vancouver was may be foreign money... this is still debateable since we don't know what will happen in the next couple years. A momentary blip in a market means nothing.

Toronto is not a one trick pony. Not every Chinese looking person is a foreigner. Not every Indian looking person is a foreigner.
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Mar 14, 2006
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New condos in downtown Toronto is going around $1000 per sq ft
[OP]
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Dec 13, 2016
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Smiley22 wrote: New condos in downtown Toronto is going around $1000 per sq ft
Please link to these units.

I am assuming these might be a few high end properties, though. I am talking generally around Toronto core.
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Its crazy...every new precon to closing for dt toronto condos will easily net you at least $100,000 profits for the past 6 years...
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