I was in Paris this week and had a chance to look at their real estate market. Condos are called apartments here and most of the stock is old. Prices are at least a $1000 per sq.ft. Canadian, without parking! People in Toronto complain about condos that are 20 years old and need renovating. Here they are 50 years and more. In Paris, downtown means five subway or metro stops from the centre of the city. In Toronto we would call that Etobicoke! Finally more than one bathroom is a million dollar property.
All in all, Toronto condos represent great values in the world market. Tomorrow I will comment on the London (UK) market.