|*To download the condo market market report for third quarter 2018 Click here.
The Toronto downtown rental market remains very strong. With a vacancy rate of 1.6% and continued high demand, rents in the downtown core are expected to increase, though not to the levels seen in 2018. Growth is expected to stabilize to more sustainable levels in response to rent control, increase in completed new units, and the mortgage stress tests. Of note is the new regulation that came into effect in November 2018, exempting from rent control new units, and any older units that were unoccupied as of November 15, 2018. This is expected to create new supply of rental units. There are also a number of projects expected to be completed in 2019 (e.g. the Britt condos and Wellesley on the Park on Bay street, Dundas Square, Grid, Massey Tower, King Blue).