Condo Rents in Toronto Decrease for First Time in Three Years
- Surge in rental listings is helping to relieve cost pressure
- Rents had been setting records amid surge in immigration
Rents across Canada have been setting records in recent years as a surge in immigration boosted demand.
Photographer: Annie Sakkab/BloombergThis article is for subscribers only.
Rents for Toronto condos fell this year for the first time since 2021 as a surge in listings brought some relief to renters.
Average condo rents for leases signed in the second quarter declined 1.2% from the same three months last year, according to a report on the greater Toronto area released Tuesday by consultancy Urbanation. That’s the first annual decline since the second quarter of 2021, the report said.