DOWNSIZING BABY BOOMERS TO FUEL CONDO MARKET FOR YEARS TO COME

Aug 30, 2012

By Jane Brown

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Aging empty nesters will help continue to fuel demand and higher prices for condos in the coming years.  A new condo report by Genworth Canada suggests first time buyers and population growth will also increase demand and prices for the compact living spaces.  The study says average condo resale prices are expected to rise next year in seven of the eight Canadian cities studied.  Toronto is among them. Prices in this city are projected to jump 2.5 percent to over $312,000.

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