Toronto condo rents jump 7.6% to $2,385 per month in third quarter  – BNN Bloomberg

Renting a condo in Toronto keeps getting more expensive. The average monthly rent for a condo in the city jumped 7.6 per cent in the third quarter from a year ago to a record high $2,385, according to Urbanation Inc. While the number of new condo rental leases signed grew slightly in the third quarter from last year to 8,186, the market still remains exceptionally tight. Average lease prices in purpose-built rental buildings completed since 2005 in Toronto surged 17 per cent to $3.09 per square foot as higher-rent properties were completed in the past year.

Source: Toronto condo rents jump 7.6% to $2,385 per month in third quarter  – BNN Bloomberg

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