Toronto’s condo market continues to remain steady in the early weeks of 2013.
Sales of condos in Canada’s biggest city fell only slightly 12.1% in the first two weeks of February, compared to the same period last year according the the Toronto Real Estate Board (TREB) . The average condo price was also lower, fell by only 6.0 percent to 330,000 Canadian dollars ($325,000), Considering the doomsayers, the market looks resilient and if it can mainstain this strenght throughout the year we could be looking at more construction as news has broken that the INDX Tower which is almost 200 meters tall is set to begin construction
Excavation began on this project over the past week or so, as the heavy equipment is on site, and ready to go.
Indx Condo Project: The Financial District
This is the site of the proposed project by Harry Stinston called the Sapphire Tower, and before that it was the site of a proposed tower called the Graphic Arts Tower. In fact the base of the Current Condo rendering posted here is the old Graphic Arts Building which will also become a part of the Condo project when it's completed.