33 Yorkville condos . The apartment is sold at an overbid of 90,000 a day. The housing market in Toronto has been taking off since last year. This one-bedroom high-rise apartment (condo) unit sells for nearly 500000, which is a perfect example.Please Visit: 33 Yorkville condos to Get Your VVIP Registration Today!
The apartment, 38 Stewart Street, is located in Toronto’s Fashion District (Fashion District), near the intersection of King Street West and Bathurst Street. The apartment was listed at the price of $399000 earlier this month. The price sounds reasonable.
A day later, the apartment sold for $490000, $91000 more than the asking price.
Ivan Kalinin, a real estate agent at Zoocasa, said the apartment received five offers in such a short time that the seller accepted the price of $490000.
‘This means the demand for apartments is skyrocketing, ‘Mr. Kalinin said. He believes that apartment prices will rise sharply from the third quarter of this year.
The apartment itself is small and warm. The function in the suite is reasonable, with separate kitchen, living room and bedroom. But the bedroom does not have a complete wall and door, but is separated from the living room by a glass wall with an opening.
Demand for high-rise apartments softened last year, but now the heat is rising again, Kalinin said. Low interest rates and the advent of vaccines will bring demand for apartments back to normal levels and prices will rise rapidly.
He said, “I just sold a high-rise apartment. The apartment was shown 60 times a week and received seven offers. This is very different from 2020, and it will only rise from here. ”
“Land O’Lakes is usually not a very high-profile area, but since the outbreak, supply has not been able to keep up with the growing demand, and since no one was able to travel last year, buyers of all ages and stages of life are looking for leisure properties that provide flexibility and network quality,” Royal LePage ProAlliance Realty said. This allows them to work remotely and have the potential to rent a house. ”
These trends are happening not only in Ontario but also across Canada.
Phil Soper, president and CEO of Royal LePage, said: “from the east coast to the west coast, the line between primary residence and leisure housing is blurring. This trend began last summer when people had no choice to travel abroad. Obviously, with the access of high-speed Internet, people can work almost anywhere. “