Cielo condos address. The price of Toronto is 1.26 million in January. House prices in Toronto surpassed Vancouver in January. The title of Vancouver’s most expensive city in Canada has finally been given to Toronto.Please Visit: Cielo condos address to Get Your VVIP Registration Today!
After decades of holding the title of the most expensive city in the country, Vancouver has been quietly replaced by Toronto, where the cheapest houses are scrambling.
Data from local real estate bureaus in early January show that the Toronto Multi-listing system (MLS) benchmark house price index (HPI) in January is C $1.26 million, narrowly better than C $1.255 million in Vancouver.
Toronto’s house price is higher than that of Vancouver, which sounds good, but it’s not a cause for celebration for buyers. Both the RBC report and the Dow Bank report in December warned that house prices in Vancouver had not risen as much as in Toronto recently.
Data show that benchmark house prices in Toronto have soared in the past five months, rising 4.3% month-on-month in January alone, equivalent to an increase of nearly 52000 yuan in one month. House prices in Vancouver are also rising, but not as fast as Toronto.
The situation is similar in both places, with prices soaring due to the scarcity of housing, and fierce competition among buyers, especially for independent houses that buyers love, with prices rising by as much as 36% year-on-year, and even by as much as 40% year-on-year in Durham and Peel districts. In this case, apartments are up 26% year-on-year.
Experts generally believe that house prices will continue to rise in the short and medium term, and it is only possible for the central bank to raise interest rates at the end of the year that the increase in house prices will gradually slow down.