toronto real estate

A Toronto parking spot was just listed for sale for more than some houses in Ontario

As Toronto home prices remain high despite escalating interest rates and little market activity, one new real estate listing has really put the cost of owning anything in the city into perspective.

Now that the price of a typical home in the GTA has reached $1.182 million, there's no way anyone would expect to be able to find even a tiny condo in some less desirable pocket of the city for under $200,000.

But, there are a handful of current listings in the downtown core that are actually below this key benchmark — unfortunately, they happen to be exorbitantly-priced parking spaces and not actual homes, which goes to show how bonkers Toronto has become.

The city has seen parking spaces put up for sale in the low $100,000s (and yes, even sold for that much) in recent years, but one listed in the last few weeks takes the cake with an astounding price of $179,900 — more than the average cost of a home in the 6ix in the 1980s, when many of our parents would have been purchasing their first homes.

The underground spot at 44 St. Joseph Street, right near Bay and Wellesley, is being billed as a "once in a lifetime opportunity" due to the fact that it is a "rarely available combination of parking space and private locker."

On top of the ridiculous price tag to purchase the space, the buyer also must pay $300 per year in property taxes, $94.90 per month in maintenance fees, and be a registered owner of TSCC 794.

For a present-day price comparison, you can still technically nab a house in Ontario locales like Waterloo and Kawartha Lakes, as well as in other cheaper areas across Canada (and definitely many places south of the border), for around the same cost as this small chunk of concrete and the underground walk-in closet it comes with.

Lead photo by

Emiliano Vittoriosi

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