For many urban Canadians, the condo has become the only affordable housing option. But with condos come maintenance fees, and the people behind a new analysis say rising fees could threaten the value of many condo owners’ homes.
Average maintenance fees in Toronto, the country’s largest condo market, have been growing at 3.4 per cent per year over the last decade, well above the overall rate of inflation, meaning condo fees are eating an ever-larger portion of household income.
Average maintenance fees in Toronto, the country’s largest condo market, have been growing at 3.4 per cent per year over the last decade, well above the overall rate of inflation, meaning condo fees are eating an ever-larger portion of household income.