High Rise sales continue to shine

The Greater Toronto Area once again is setting records for high-rise condominium sales.

RealNet Canada - the official source of information for the Building Industry and Land Association (BILD) - is reporting 2,293 new condominium units sold in November 2010.  This represents an 8.4% increase over high-rise sales in November of 2009.

"This has truly been the year of the condo, with high-rise sales accounting for an astonishing 56% of the 35,190 units sold so far this year," said BILD President and CEO Stephen Dupuis. "The healthy high-rise market reflects a number of factors, including great building and suite designs, a very high level of standard finishes, superlative locations, affordable prices (relative to low-rise and especially by global standards), changing demographics and to a lesser degree, consumer preferences."

With only one month remaining in 2010, the new housing market in the Greater Toronto Area is trending in a positive manner. To this point, the market is 14% ahead of where it was in 2009, highlighted by a 47% increase in high-rise condominium sales.

Toronto and Peel regions where the most responsible for the increase in high rise sales, with in Toronto up 23.8%and in Peel up a strong 47.9%.

BILD is the voice of land development, home building and professional renovation industry in the Greater Toronto Area. BILD is also proudly affiliated with the Ontario and Canadian Home Builders Associations.