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Survey of 2bd/ 2bath/ preconstruction prices in toronto december 2009

The Condo Observer

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I have started a spreadsheet to compare two bedroom/ two bathroom pre-construction prices.

Granted, it is difficult to control the criteria for a truly meaningful, scientific comparison, but this is intended more as a snapshot of what prices are in various locations accross the city.

So these condos all have two bedooms, two bathrooms, no den, and are around 800 sq feet.

Parking and lockers considered separately.

I will update this spreadsheet if members PM me with prices for similar units, that they have verified as accurate. Or simply post here, and I will update periodically.

SEE BELOW FOR UPDATED SPREADSHEETS
 

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Nice work. Amazing how much parking costs these days. A few years ago an average parking spot was in the teens, if I remember correctly.
 
70,000 floor premium!? Which floor, 70th?

the survey said for a unit b/w 30-40 floor, and it assumed $1000 per level premium unless otherwise known.

IIRC, for ICE the premium could have been around $2000 per level.
 
I've been looking around the St. Lawrence Market area and see that with parking/locker the 2 bedroom you're looking at is over $630 psf. Interesting to see that other condos are even higher.

What do people think about paying over $600 psf in the St. Lawrence Market area? I'm noticing that's what London on the Esplanade is going for now too. It's a great area and location certainly is important, but would this be considered fair market value? Or is the pricing out of whack?
 
Nice work. Amazing how much parking costs these days. A few years ago an average parking spot was in the teens, if I remember correctly.

Agreed. Seems like the parking spot will be worth more than the car parked on it (at least +90% of the time).

It was n't that long ago that a unit came with a parking spot at no extra cost either.
 
This is excellent compilation. Anyone there who could do it for 1 bdrm?

If time permits. But what I am honestly concluding from this exercise, and additional research, is that a One plus Den is a poor choice for investors. Perfectly fine for owner-occupation, but not great for a speculative purchase. Its better to stretch that extra bit and go for a basic two bedroom, two bathroom.
 
If time permits. But what I am honestly concluding from this exercise, and additional research, is that a One plus Den is a poor choice for investors. Perfectly fine for owner-occupation, but not great for a speculative purchase. Its better to stretch that extra bit and go for a basic two bedroom, two bathroom.

I second that. I had a one plus den and the builder let me upgrade to a larger unit. I am really happy with the choice because even though I spent an extra 120 grand on the unit I will have the option of renting out the second bedroom while I live there. I can cut out 60-70% of my mortgage payment from that rent so it will offset the extra cost and more. I also noticed that this whole market is being flooded with small "investment" units, 1 beds and 1 plus dens. There isnt nearly as many 2 bedrooms being built. All of the people currently occupying these 1 bedrooms looking to upgrade will create a huge demand for larger units in the upcoming years. And if you can get one with a nice lakeview like i did you should deff. be able to cash in! ;)
 
If time permits. But what I am honestly concluding from this exercise, and additional research, is that a One plus Den is a poor choice for investors. Perfectly fine for owner-occupation, but not great for a speculative purchase. Its better to stretch that extra bit and go for a basic two bedroom, two bathroom.
If you are buing for resale, aren't one bedroom that are in highest demand? They are the first to go in any new launch. Two bedroom requires much larger deposit, and if it is downtown, it's usually out of reach for most first-time buyers. I would expect it will be harder to sell.
 
thanks for the compilation Condo Observer ... i think a good factor to consider/include would be exposure, as that direction/view significantly impacts a condo unit's price
 
See updated spreadsheet, with a few more entries. Exposure now included where known.

This is a great compilation Condo Observer, thanks.
I esp. like the fact that you kept it to a specific category - 2 bdrm, 2 bthrm, 800 sq ft. A 1 bdrm can be tiring.
I don't quite understand the first entry. Is that the correct price for X1 Eames unit on the 30th floor as of summer 09? Seems very low.
One more column to consider: date of pricing.
Maybe even open it up for others to add entries. Hell, start your own site: "Condo-spotting"
 
I got that price via PM from a UT member. I do know that post-meltdown, there were special incentives and pricng at X1 for the late sales (i e, they had achieved something like 90 percent sales already, and were selling off the held back units). I do not doubt it as I was offered one on the 9th floor for around that price.
 

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