Are you thinking about buying a condo in London? If so, you may be curious as to where London's condo prices stand compared to other places in Ontario. Obviously lofts for sale in Toronto will be more expensive, but by how much? Where are the cheapest places to buy condos? And what about the most expensive? If you've got questions about condo prices in Ontario, we've got answers. Read on for a brief comparative guide.
A standard condo has an average of two bedrooms and about 900 square feet of living space. In London, you'll pay about $143,000 for a standard unit like this, while a unit in Toronto of the same size can cost anywhere from $215,000 to $675,000 on average depending on where in the city the condo is located. London is the cheapest major city in Ontario in which to buy a standard condo, but Brampton is close behind at $146,000. North Bay isn't too bad either, with an average price of $175,000, and you can even get something decent in Eastern Ottawa for about $196,000.
In the Greater Toronto Area, the cheapest place to get a condo is the West Hill Area of Scarborough at $215,000. In the $300,000 range there's Bloor West Village at $305,000 and Etobicoke condos at $330,000, which is more expensive than even Ottawa's ritziest area (the most expensive non-Toronto condo location). However the most expensive areas to buy standard condos in are High Park and Unionville, at $675,000, Forest Hill at $550,000, Lawrence Park at $530,000, and The Annex at $450,000.
A luxury condo has two bedrooms, just like a standard condo, but more than 1400 square feet of space and a host of luxuries like a family room, balcony, in-building pool and more. In London, a swanky unit like this would cost you in the neighborhood of $253,000, which is similar to the prices in Brampton and Burlington in the GTA. The cheapest place to get a luxury condo in Ontario is the Kanata neighborhood of Ottawa at $245,000 followed by Burlington at $250,000 and Woodbridge at $267,000.
Outside of the GTA, the most expensive luxury condo neighborhoods are Southern Ottawa at $460,000 and Barrie at $382,000. In Toronto, you'll pay around a million dollars for a luxury waterfront unit and $800,000 for a place in Midtown. New units in Mississauga represent a middle of the road figure for the suburbs - about $340,000.
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