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At the end of 2010, there were 286 new condominium projects in Toronto. A stroll downtown reinforces the impression that the city is awash in projects. A condo owner may wonder "With all these new buildings, will there be a market for the apartment I already own? The answer is yes. The three contributing factors to sustainable value are demographics, affordability and location.In 1981, only 3% of Canadian homeowners were living in condominiums. By 2006, that number had increased to 11% and continues to increase to this day. In general, two groups of people are powering this change.

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 Aging boomers, finding the upkeep of a traditional house an ever-increasing burden, choose condominiums instead. First-time Buyers under 35 are seeking maintenance-free home ownership to suit their busy lifestyle. Many find that condominiums meet their wants and needs.The second factor is affordability. Even with the current favorable interest rates, the average freehold dwelling represents a serious financial commitment. According to the February, 2011, Toronto Real Estate Board's Market Watch newsletter, the median price for a detached house in Toronto was $479,250. By contrast, the median price for a condo apartment was $302,000.The third and most important factor in underpinning value is location. Toronto cannot grow to the south as it borders Lake Ontario. Growth happens in concentric rings to the east, west and north. This dynamic ensures that the centre of the city remains a destination of choice for many buyers who want an urban lifestyle without the commute. Established projects may have enviable views and generous grounds having been built at a time when the best building sites were still available and land wasn't as expensive as it is today. Older projects may also contain larger units than those offered now. Renovating an older apartment can be a rewarding experience for Buyers willing to invest time and money on top of their initial purchase.The final benefit in purchasing a re-sale condominium is getting what you have already seen. There is no anxiety that what you have negotiated for on paper will not live up to your expectations when it is finally built.February, 2011, saw a 9% drop in new listings from the previous year. The traditional surge of spring Buyers will enter a market already short of product. Under those conditions, an intelligently priced condominium, particularly one located downtown, should generate a great deal of interest. For more info, visit Casas.