New Pre-Construction Condos Toronto (2024)

Toronto, the capital of Ontario and the financial powerhouse of Canada, is a city teeming with life. With a booming job market, vibrant neighborhoods, and an exceptional transportation network, it’s no wonder that luxury condos are among the hottest commodities in the real estate market. For those eyeing the high-rise lifestyle, new pre-construction condos in Toronto offer a tantalizing array of options.

The Toronto Condo Market: A Closer Look

Toronto’s real estate market is on a continuous upward trajectory, primarily fueled by the surge in new condo developments. While high-rise condos dominate the skyline, low-rise condos and condo townhomes also offer attractive alternatives. This diverse range ensures that prospective condo owners have access to a variety of amenities and living experiences.

Amenities and Luxuries

New condo projects in Toronto come with a host of luxurious amenities. Imagine having access to swimming pools, outdoor terraces, guest suites, and top-notch security services—all within your building. These amenities not only enhance your living experience but also help maintain the value of these condos in the competitive market.

Why Downtown Toronto?

Downtown Toronto boasts some of the most stunning venues and high-rises, offering residents breathtaking views of the city skyline. This area, known for its vibrant culture and convenient location, is a magnet for both buyers and developers. Popular condo projects like Artistry Condos and United Bldg Condos are just a stone’s throw away from key landmarks like Joseph’s Health Centre, making them prime choices for homebuyers.

Educational and Transit Advantages

Toronto stands out as one of the most accessible cities in North America, with a robust public transit system operated by the Toronto Transit Commission (TTC). The Path System, North America’s largest underground pedestrian walkway, connects numerous office towers, subway stations, and other transit options, making commuting a breeze. The planned developments in the transit system, including new bike paths and LRT lines, promise to further enhance the city’s accessibility.

The Path System

The Path System is a marvel of urban planning. Spanning over 30 kilometers, it connects 1,200 stores, 50 office towers, and six subway stations, providing an extensive network for pedestrians. This makes it an invaluable asset for residents of downtown Toronto condos, who can navigate the city with ease regardless of the weather.

Average Prices and Market Trends

Investing in a pre-construction condo in Toronto is a lucrative opportunity, given the rising market trends. The average price per square foot for pre-construction units is around $1050, while resale condos fetch approximately $986,085. These prices are expected to climb, making now an ideal time to invest in luxury condos.

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:

Q Tower Condos | Toronto

Located in the heart of the city, Q Tower promises luxurious living with state-of-the-art amenities and unparalleled views.

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.

Why Invest in Pre-Construction Condos?

Investing in pre-construction condos has several advantages. Firstly, buyers often enjoy lower prices compared to the market rate at the time of completion. This price appreciation over time can result in substantial equity gains. Additionally, buying pre-construction allows for customization options, ensuring your condo meets your personal preferences and needs.

Benefits at a Glance

• Lower Initial Prices: Purchase at today’s prices, not tomorrow’s.
• Customization Options: Tailor your living space to your tastes.
• Equity Growth: Benefit from price appreciation over time.

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.