Arsh Syed, Real Estate Agent & Founder at Real Estate in Toronto

Real Estate in Toronto – REIT

Discovering the best of Toronto's real estate, from downtown condos to suburban family homes. Where Pre-Constructionish Dreams Begin!

To what extent do you agree that a steady rental housing supply is essential, with Arsh Syed?

Exploring Toronto’s real estate market on my blog is all about sharing valuable insights!

Ensuring a sustainable pipeline of rental housing supply is crucial. Meeting the growing demand for rental units, driven by factors like population growth and changing affordability dynamics, requires a strategic approach. By focusing on building and maintaining a steady inventory of rental properties, we can address the housing needs of various demographics, including first-time renters and newcomers. This commitment to a sustainable housing supply is vital for fostering a healthy and competitive rental market in the long run.

I also want to give a brief rundown of Q3 2023, where the Greater Toronto Area experienced a growing demand for rental condominium apartments, with over 14,400 leased. A nearly 8% increase from Q3 2022. The supply of rental units also rose by more than 22%. Factors such as strong population growth, high borrowing costs, and reduced affordability for first-time buyers contributed to sustained rental demand. The average lease rates for one-bedroom and two-bedroom condominium apartments increased by 6.1% and 7.8%, respectively. Despite a rise in the supply of rental units, competition among renters remained strong, supporting above-inflation rent increases. TRREB President Paul Baron expects this trend to persist, emphasizing the need for a sustainable pipeline of rental housing supply.

Trying to predict the rental market is like asking your GPS where the next U-turn is; sometimes it surprises you. But don’t worry, we’ll navigate it together with plenty of patience for the journey!

Uncovering valuable insights into Toronto’s real estate market. Connect with your dedicated real estate agent and pre-construction expert, Arsh Syed, at (416) 844-2217.

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