Reshaping the Toronto Skyline – Aura, North America’s Tallest Condominium

AURA, North America’s Tallest Condominium is not only setting records for its vertical stature in Toronto, Canada but also for its architectural excellence, a truly valuable investment opportunity.

The condo investment market in Canada’s largest metropolis, Toronto, is red hot. Toronto Real Estate Board statistics showed in October 2007, condos represented about 40% of the housing market topping the list at 18% growth and year to date sales at almost 89,000 units. Toronto is one of the world’s most ethnically diverse cities and is consistently rated as one of the world’s most liveable cities by the Economist.

The condo investment market in Canada’s largest metropolis, Toronto, is red hot. This thriving city boasts a population of over 3 million and is the financial centre of Canada. Over the past few years, property prices have steadily increased fuelled by sound economic fundamentals, namely, relatively low interest rates, improving economy and high level of resale activities in the housing market.

Toronto Real Estate Board statistics showed October 2007 sales increased by 15% over the same period in 2006. This is an all time record for Toronto. Condominiums represent about 40% of the housing market, which tops the list at 18% growth. At the end of November, year to date sales almost reached 89,000 units.

The affordability index shows a healthy 22.1% of a household income well under the warning levels set at 30%. Importantly, a strong economy and the annual population growth of about 100,000 are driving up the demand for condominiums.

Sales of existing condominiums increased for 10 consecutive years, more than doubling from 7,100 units in 1995 to 17,700 units in 2006. Price also rose dramatically, with the existing condominium price increasing by nearly 75% between 1994 and 2006.

Employment continues to rise and was forecast to grow 1.8 % in 2007 and at 1.5% in 2008. The unemployment rate is forecast at 6.4 % for 2007 and 2008 – below the average unemployment rate experienced over the past two decades.

A vibrant and cosmopolitan mix of business, entertainment and culture, Toronto is one of the world’s most ethnically diverse cities and is consistently rated as one of the world’s most liveable cities by the Economist.

Aura At College Park Condominiums
Soaring 75 storeys, North America’s tallest condominium will punctuate the Toronto skyline like no other building. Aura is not only setting records for its vertical stature but also for its architectural excellence.

This residence is the ultimate in luxurious living with elegantly appointed suites, expansive views of the skyline, a 3 storey podium of 190,000 sq. ft of prime retail space and superior amenities. Penthouse Suites from USD 2 Million, Tower Suites from USD 470,000’s.

Aura offers direct underground access to the metro from the building and a connection to “The PATH”, recognized by Guinness World Records as the world’s largest underground shopping complex with 4 million sq. ft. of retail space over 27 kilometres.

Aura is a valuable investment opportunity for today’s international buyer. Visit Aura at #609, Grand Hyatt Hotel Oct. 23 – 25, 2008 at the Worldwide Property Show – Dubai.

The Canderel Group
Founded in 1975, The Canderel group of companies is dedicated to quality in all aspects of residential, commercial and recreational real estate, including land assembly, design, construction, project management, leasing, financing and property management, high standards of operation and prudent management.

News submitted by Erica Mary Smith, Aura At College Park Condominiums