Nahid Kennedy . The price of a detached house is only 420000. Despite the absurd price of the Toronto housing market, a small apartment can easily cost hundreds of thousands of dollars.Please Visit: Nahid Kennedy to Get Your VVIP Registration Today!
No wonder the news that No. 29, a detached house in Ray Avenue, west of the city, can become the cheapest independent house in Toronto last year is still surprising.
In Toronto, the detached house, located on Jane Street and Eglington Avenue, sold for just 525000 yuan before the new crown pandemic in January last year, and finally sold for even lower price, just 420000 yuan.
This detached house is certainly nothing special, and it needs to be renovated on a large scale or even completely demolished before it can be sold at a bid of one million yuan. Although demolition works need to be carried out internally, it has not gone so far as to sell some abandoned houses in the city at sky-high prices, such as those in horror movies.
This most affordable detached house is located in Mount Dennis. Although it is not the most fashionable or ideal location in downtown Toronto, it is still listed in the inner Toronto area and is within walking distance of the main transport interchange of the Crosstown Eglinton LRT Light Rail Line.
What is even more strange is that the same house was also the cheapest house in Toronto the year before, and it was listed by Scott Ingram, a local real estate agent, as the most noteworthy real estate transaction in Toronto. In addition, the house was sold only after its first two bids were unpopular, making people wonder if there were any problems that people could not see in the place.
The selling point advertised when the house is for sale is that it is a self-contained house of moderate size and “specially designed for decoration / contractor” on this lot. It can be assumed that if anyone buys it, it can be converted to the purpose most suitable for the owner’s investment, whether it is self-occupied or rented, or resold for profit.
Looking back at the pictures posted on the Internet when the house was sold, it looked rather bleak. At that time, the average price of a house in the city as a whole was 884385 yuan.