According to the CMHC. Canada’s housing market is not in bubble territory and faces “very little risk” of a downturn. Below are 8 statistics that help paint an accurate picture of Toronto’s burgeoning condo market.

1. The average rent per sq. ft. has risen 14.8% over the past 3 years in Toronto.
2. The average rent for condominium units is $550 more than purpose-built rental units.
3. Vacancy rates dropped to 1.6% despite rents rising more than 2.9%.
4. 80% of immigrants moving to Ontario will decide to live in Toronto.
5. 50% of all new immigrants are between the prime ages of 25-44.
6. 91% of immigrants choose to live downtown and in major urban centres.
7. 20,000 condo units are under construction per year.
8. 1.03 housing units are built per household.