If we look at the market rents of the downtown condos In Toronto, we
see that the existing affordable rents formula will not help most of
the low-income residents in Toronto afford to live in a rental condo
Monthly rents 2015 figures
People who need just a little financial assistance to be able to live
in a decent condo apartment are the ones who will gain the most from
The very low-income people will be not be helped by Bill 39 or any
other plan that defines housing eligibility of being able to pay 80% of
the going free-market rates.
In the future, will condominium developers be forced to designate a
certain percentage of all future developments as rent-to-income
units? Will social agencies be given opportunities to purchase units at
less than market-value prices?
If so, then condominiums may lose their appeal and buyers will turn to
free-hold housing or become renters rather than take a chance on being
stuck on title in a condo that may lose value.