06/01/2018
In this series of waterfront condo analysis, we will be focusing on the price changes of two bedroom suites. Original article as written by Bay Street Group Inc and Bay Street Realty Point. All rights reserved.
The target end user market of Two bedroom suites includes young families. Specifically, those who are looking to make their first home purchase.
Taking away the noise of detached/semi-detached housing price fluctuations throughout the past two years, the increase in purchase and rental price of two bedroom home as investment property is rising steadily and at a faster pace than houses.
The average price of Two bedroom plus parking in 2016 is around 600k, steadily rising to 680k in 2017, and then again rising to 880k in 2018.
The average price of two bedroom with no parking in 2016 is at 500k, steadily rising to 670k in 2017, and then again to 710k in 2018.
From the above analysis, it's logical to conclude that two bedroom condo price increase is significant throughout the past two years. Two bedroom condo is the number one choice for urban Millennial families. Waterfront community is the quintessential representation of comfort, convenience, and luxury lifestyle.
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