Good news for owners renting out their condos! Stats show there has been a decline in the number of apartment units being rented in the city, while the popularity of renting condos is booming. Generally newer, cleaner, and featuring more amenities - whatever the reason, renters are flocking to condominiums and ignoring the vacancy signs posted at traditional apartment buildings. And the most popular? One-bedrooms by far, being snatched up within 10 days on the market. Average rent for a one-bedroom in the downtown area is $1450, showing an increase of about 20% over the last couple of years.

This entry was posted on Friday, November 16th, 2007 at 1:05 am and is filed under Real Estate News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.