Toronto Rental Costs The Highest In Canada
Great for investors in real estate in Toronto, perhaps not that great for tenants. Toronto is now the most expensive city in Canada to rent a 2 bedroom apartment or condo.
Padblogger, the apartment rental comparison web site released its latest monthly cross-country rent analysis .
One bedroom rentals in Toronto are now going for an average of $2,260, up 1.8 per cent over the month previous.
Two bedrooms are reaching record highs of $2,850, up by a huge 15.9 per cent up over the same period of time last year.
As a comparison, the cost-per-month of a two-bedroom place in Montreal is only $1,780. A one bedroom in Montreal goes for an average of $1,450, what it would have cost for the same apartment in Toronto ten years ago.
All this seems like it’s been a great time for investors in real estate in Toronto and the surrounding GTA. There is no signs that this price increase won’t continue. Smart investors in Toronto real estate seem to be still snatching up properties every chance they get.
With these rental rates and the poor performance of the stock market over the last 6 months, who can blame them. Investing in real estate in Toronto appears to be a very smart place to put your money.