When you look at the Toronto skyline and see construction everywhere in the downtown core, do you wonder who they keep building all of these condos for? The downtown core of the Greater Toronto Area is actually one of the fastest growing communities in the GTA, with no signs of slowing down.

The new residents are a condo developer’s dream – educated, well off, and childless. In the last 5 years approximately 17,000 new housing units were built to accommodate the over 165,000 people that have moved into downtown Toronto during that same period.

Surprising enough, most of the new downtown GTA residents have not arrived from the suburbs. They were already Greater Toronto Area residents, many of them moving within 5 kilometres of their previous address. What is not surprising is that the largest demographic moving into new downtown Toronto condos is the 25 – 39 age bracket. They are young, upwardly mobile, and childless. In fact only 4% of the newly built condos have children living there. Although families with children are living in the downtown Greater Toronto Area, they are moving into older condos, as are the seniors. As more and more people keep moving into downtown GTA, the building of more condos will continue as we watch Toronto grow higher and higher.