Toronto condo boom being fueled by single women

The Star published an article by Susan Pigg today featuring an interview with Elli Davis. Women account for 20% of real estate purchases in Toronto and 30% of condo buyers.

Elli Davis was a woman well ahead of her time when she bought her first condo 26 years ago.

Image“It took me about an hour. There were just two buildings to choose from in the (central Toronto) area at the time,” says Davis, who wasn’t even 30.

But her agent was so awful at dealing with what was, admittedly, a bit of an anomaly at the time — a single woman buying a place on her own — that Davis would become a realtor herself two years later. Since then, she’s seen the real estate revolution firsthand.

Single women now account for about 20 per cent of all real estate purchases and well over 30 per cent of condo purchases, especially in Toronto’s booming downtown core, realtors and condo developers say.

Their significant buying power, and exacting standards, have helped drive the move to granite and stainless steel designer kitchens, better bathroom storage and even lighting — especially over the makeup mirror, says Jim Ritchie, president of Canada’s biggest condo builder, Tridel.

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