Condo prices could skyrocket…

Toronto condo prices could skyrocket 40 percent, predicts major developer

A major real estate developer is brushing off fears of a bubble in Toronto’s red-hot condo market.

“My prediction, and I’ve been pretty accurate to date, is we are going to have a 30-to-40% increase in values of the condo market in downtown Toronto over the next three to four years,” Barry Fenton, CEO of Lanterra Developments, told BNN in an interview on Thursday. He later clarified he expects that price growth to occur over the next three years, not four.

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