Realtor's viral TikTok shows how ridiculous Toronto's condo market really is
Though Toronto's real estate market has definitely been slowing drastically in recent weeks, the city remains one of the most expensive places to buy a home in the world, and with condo towers forever under construction, we've become notorious for our tiny, low-quality units at sky-high prices.
One Toronto realtor has highlighted this unfortunate trend in a TikTok video that has understandably gone viral, as we all know the internet just loves to see a tour of overpriced metropolitan real estate.
Sean Mayers, who often posts about Toronto real estate news on his social media feeds, shared one new listing in the city that he found to be especially shocking.
"Looking for a tiny and expensive shoebox in Toronto to call your own? You've come to the right place," Mayers starts off his walk-through narration for the generic condo unit before he hilariously shows off the units features, which leave a lot to be desired.
In his tongue-in-cheek description, the realtor boasts of a narrow hallway "perfect for showing off your shoe collection," a kitchen counter that only has room for dish soap and a microwave, and a bathroom that is actually bigger than the minuscule bedroom — which only fits a double bed and has no closet.
"The hotel-style mini bar fridge is great for storing one meal at a time, and you'll love the easy bake oven, perfect for cupcakes," Mayers continues, poking fun at the spot's very hotel-sized amenities.
He also notes interesting design attributes like the lack of a proper wall in both the bedroom and bathroom, ostensibly a move to make the space feel larger and more open-concept, and to provide some more light to the tiny closet of a sleeping quarters.
The kicker of the whole tour is the price tag, of course: $610,000 for the compact one-bedroom with no parking, locker or storage space, something that really resonated with a lot of Torontonians, apparently.
"Should be illegal to build these..." one person commented.
"Looks like living in jail but you paid for it," another added.
Also, the very valid question, "Why do people still live in Toronto?"
Yet another pointed out that you need to make a good $120,000 a year to afford the unit, making it, like all real estate in the city, out of the reach of most residents; and still another added that in their city, such a condo would be priced at about that much, or less: $100k-$120k, at most.
As funny as the video is — amassing more than 315,000 views, 29,000 likes and thousands of comments on TikTok and counting — most peoeple from Toronto have undoubtedly seen worse deals on even smaller units.
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