New Pre-Construction Condos For Sale in Toronto (2024)

Besides being the capital city of Ontario, Toronto is Canada’s financial centre and business capital area. The city has a thriving job market, lively neighbourhoods, and an excellent transportation system around Lake Ontario. Thus, luxury condos are among the most sought-after new condos in today’s market, especially for most high-rise condominiums.

The Toronto real estate market keeps soaring due to new condos. Contrarily, there are also low-rise condos plus condo townhomes in downtown Toronto. It’s a convenient situation since it allows aspiring luxury condo owners access to more amenities.

Moreover, each condo owner can avail luxurious amenities in the Toronto new condo projects, such as swimming pools, outdoor terraces, guest suites, security services, etc. Having these ensure the price of downtown Toronto condos in the luxury condo market per sq metre remains profitable.

The Toronto Condo Market

Downtown Toronto condos have some of the most stunning venues with soaring skyscrapers for Toronto residents to enjoy the downtown Toronto skyline. From Hollywood North to Hogtown, you will find almost everything in these luxury condos. This makes it the most desired location for condos in the pre-construction stage and a big-time city abuzz for all buyers and developers of luxury condominiums.

Artistry condos, United Bldg condos, and popular condominium residences for sale are all located near Joseph’s Health Centre. These luxurious downtown Toronto condos are some of the best offerings for any aspiring homeowner.

A precursor to buying a pre-construction condo with the city’s educational standards and private schools in transit. Being among the top global cities, Toronto is also one of the most accessible cities in North America. Besides New York City and Mexico City, this megacity boasts the most prominent public transit system with the Toronto Transit Commission (TTC), one of the largest public transit system options around.

The Path System is the largest underground pedestrian walkway with a transportation system that links North America’s twenty parking garages, railway terminals, approximately fifty office towers, and six subway station options.

One of the town’s busiest commuter lots is situated at Yonge Street and Bloor Street. You can always have buses, taxis, and streetcars as transit options in downtown Toronto. Moreover, the transit system is likely to develop, thanks to the master-planned community of the new condos in downtown Toronto.

A project worth noting is the upcoming underground Gardiner Park. The other proposed bike paths for respective owners and new LRT lines will also prepare the city for a more pedestrian-friendly streetscape. It could further raise the prices for pre-construction condos Toronto per sq metre.

Average Price

In Toronto’s pre-construction condo investment stage, the average condo price per square foot of the units is $1050. Currently, the average resale condo price is around $986,085.

This pre-construction condos Toronto price is expected to appreciate, so it’s best to consider investing in luxury condos as soon as possible.

List of New Condos

Downtown Toronto is sure to offer more advanced facilities with affordable condo prices for big-city living. It applies to condos already at their pre-construction stage.

The more it does, the more it can contribute to Toronto’s growth and thus inflate the average resale price for new condos per sq metre.

Here are some new condos coming soon:

The Frederick Condos

A new condo development, these downtown Toronto condos developed by Camrose Felcorp is in the pre-construction phase, located at 939 Eglinton Avenue East, Leaside Toronto, ON.

The 30-storey building has 322 suites that range from 385 sq. metre to 1101 sq. metre and an average price of $1,608/sq. metre The units cost from $659,900 to $1,809,900, depending on the area and amenities.

Unit owners and guests can gain access to amenities such as a fitness centre, sauna, massage room, outdoor firepit lounge and outdoor barbecue, to name a few. 

The Alias Condos by Madison Group

A new condominium development, this new condo project will be located at 114 Church St. Toronto, upon its completion in 2026.

The building consists of 45 floors and a total of 546 suites that range from $1,642,900 to $2,347,900 per unit. The size of the individual suites vary from 360 sq.ft to 1,400 sq. metre

The condominium features fitness pods, an outdoor terrace, kid’s playground, lounge and other amenities.

Located in the heart of downtown Toronto, Alias Condos offers access to all conveniences of urban living. The area is surrounded by greenery despite being at the city’s centre.

8 Elm on Yonge

8 Elm is a new condo currently at its preconstruction stage located at 8-Elm St, Toronto, ON. 

The 69-storey building has 819 units that features 1 to 3-bedroom suites. The size of one room ranges from 300 to 998 sq.ft, which are priced at $632,900 to $1,659,900.

The condominium features spacious indoor and outdoor recreation areas and amenities, such as a top-notch fitness centre, social lounge, outdoor terrace and sky club among a few.

The local area has numerous shopping and entertainment centres, high-end restaurants, shops and pubs. 8 Elm is located near universities, hospitals, banking institutions and other commercial establishments.

Get in touch with us for instant updates on luxury condo prices, townhome prices, the sale price and other details of any Toronto pre-construction condos or resale condos in Toronto, North York, Richmond Hill or nearby areas.

FAQs

How Much is It To Buy Condos in Toronto?

It costs an average of $703,566 to buy condos in Toronto. The price may vary depending on the area of the unit, its location in the city and the amenities featured in the condominium.

What is the Range of Townhome Prices in Toronto?

The range of townhome prices in Toronto will depend on the total area and its location. The average cost of a townhome is $1,022,680.

Is It Worth Buying a Condo in Toronto?

It is worth buying a condo in Toronto since the value of the property appreciates an average of 5 to 6% annually. It is why condo developments are booming in the city.

How Much Does It Cost to Rent a Condo in Toronto?

It costs an average of $2,800 a month to rent a condo in Toronto. Rent prices have increased roughly 30% over the last two years, specially in the Greater Toronto Area.