I spent a few days in Toronto last week. I haven't been there for two years. Here is an uninformed opinion: Quite a lot of condos downtown. Wow ! Very impressive.
Many condo towers are very basic and un-inspirational, boring, and full of small 1BR condos. Likely a glut aka bubble in that segment, so only a good investment if you can hold 5 or better 10+ years with sufficient rental income to cover all expenses: condo fees, property taxes, mortgage, R&M, management fees .. Keep in mind also that the advertised condo fees usually go up in year 2 by 20-50% and that some condo towers have questionable construction quality.
With Ontario's debt at an all time high and climbing, taxes will rise, jobs disappear (both public and private), thus real estate prices will flat line or decline in many areas, but not all. Areas like Beaches, Roncesvalles and other inner city areas not downtown but very close to it will likely do very well, as will areas close to the new LRT/subway/street car lines that are still being debated. So pay close attention to that. Once a new station is approved, buy in a 800 m radius if it fits your criteria because prices will be higher once the station is built (3-12 years from now .. so watch for timelines !)
Not a slam dunk investment like it used to be, a flat-lining or decline in many areas and great opportunity in pockets that need careful research.
Related
article here on Toronto hospital spending cut backs as it is essentially broke. Perhaps a coalition government with the NDP or the Conservatives in the making ?
Or
here on condos in Toronto losing its investment lustre.
or
here on myreinspace on why Ontario's prices will fall in most (but not all) places.