9:00a – 5:00p

Monday to Friday

265 Rimrock Road, Suite 202

North York, ON M3J 3C6

Toronto’s High Priced Market

Tembo Financial February 26, 2016 No Comments

According the Economist, Toronto has the highest housing prices in relation to its rental rates around the world. This survey suggests that Canada’s markets are more than 30% overpriced. Canada has now joined Britain and Australia as countries with notable over-valued real estate markets. It was found that Canada topped the charts when comparing countries’ housing prices to their rental rates. Though property prices were on the rise around the world, rising at 4.7% annually, Toronto remains to be among the highest.

Furthermore, the average rental rate for a one-bedroom apartment is $1,200 per month, while the average one-bedroom condominium is over $400,000.

Have you sold your home, and now can use an advance on your equity before closing day, perhaps you need money for renovations? Tembo Financial can help! Tembo offers this unique service to homeowners in Ontario and the GTA. You could receive your money in as little as 48 hours with no credit check and no appraisal* for expenses that matter to you. Don’t wait, start today!

*Subject to qualification.

Leave a Reply

Your email address will not be published. Required fields are marked *