Condo rents in Toronto region dip for first time in three years, report finds
A new report says condo rents in Canada’s most densely populated region have dipped for the first time in three years.
The report from Urbanation Inc. says average condo rents on new leases in the Greater Toronto and Hamilton area were down 1.2 per cent in the second quarter compared with last year.
It says rent for the April to June stretch averaged $3.97 a square foot, or $2,723 for a 686-square-foot apartment, down from $4.02 a square foot during the same time last year to mark the first decline since 2021.
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