Condo Heat in the GTA

Canada Mortgage and Housing Corporation: 28% of first-time buyers in the GTA have opted for condominiums so far in 2014, up from 13% in 2004. First-time buyers choosing single-detached houses dropped from 57% to 31% during that time. Still, despite the uptick in condo rental units, vacancy rates hover around only 2%. Of the 55,000 condo units currently under construction in Toronto, 98% have been pre-sold.