Ritz-Carlton Toronto Condos
Ritz-Carlton Toronto Condos For Sale
The Ritz-Carlton Hotel and Condos are now complete, located on Wellington St. in Toronto’s Financial District.
The Ritz-Carlton has seen some 29 of the 161 Luxury Toronto Condos on sale now (for months). It is reported the developer has another 12 Condos he is still marketing.
It appears the higher average price per square foot is resulting in much longer “days on the market.”
A possible oversupply of luxury Condos could exist shortly, as the Trump Tower Condominiums also come on to the resale market Jan. 31st.
Earlier some Trump International investors wanted out of their Condominium contracts with the builder, with very little success.
It appears the Ritz-Carlton developer is asking an average price of $1,100 per square foot for the remaining unsold Condos.
Urbanation, a Condominium Research company said Condos in the pre-construction phase were selling for an average $925 per square foot.
These new Luxury Five Star Condos continue to sell on the Toronto MLS albeit at a slower pace, giving some investors a profit.
Ritz-Carlton Condos for sale or rent can be found here with other Toronto Financial District Condos.
About the Author:
Iris Li is a RE/MAX Toronto Realtor specializing in Toronto Downtown Condos and other Toronto Real Estate.
