New apartments in Toronto at prices between $450,000-$850,000: A fact-based market review
New apartments in Toronto at prices between $450,000–$850,000 generally include studios, one-bedroom suites, one-plus-den layouts, and compact two-bedroom homes rather than large central residences. The supplied records show meaningful variation in size, tenure status, fees, parking, occupancy, and location, so an advertised purchase price should be assessed as one part of the total housing cost.
What the price range typically contains
The examples reviewed cover several types of newly built or recently completed condominium homes. A 1-plus-den residence at Reina Condos in Etobicoke was recorded at $499,900 with approximately 671 square feet, while a two-bedroom suite at XO Condos in Parkdale was listed at $599,900 with approximately 679 square feet. These examples indicate that the range can include flexible layouts, although bedroom count does not necessarily correspond to substantially greater interior space. 2 4
Other records show a broader spread. Galleria 3 was described as a two-bedroom, two-bathroom assignment measuring 737 square feet at $520,000, while The Narrative in Rouge was recorded at $749,990 for a new two-bedroom, two-bathroom suite of 600 to 699 square feet. Olive Residences was advertised from $419,900 to $823,900, placing some of its homes below and others within the stated range. 8 10 1
Neighbourhood and transit differences
Newer apartments in this price band appear across a wide geographic area rather than in one concentrated district. The supplied examples include Etobicoke, Parkdale, Leslieville, High Park North, Islington City Centre West, Rouge, North York, and the west-end Dupont and Dufferin area. General Toronto housing directories identify North York, Etobicoke, Scarborough, East York, and parts of the west end as areas where comparatively more opportunities may be found in this price category. 11 12 13
Transit access is a recurring feature in the descriptions, but proximity should be verified at the individual address rather than inferred from the neighbourhood name. The High Park North example references the TTC subway, UP Express, and GO services, while the Islington listing identifies walking access to Islington and Kipling subway stations. The King’s Landing assignment is located near Sheppard Avenue East and Leslie Avenue, with a stated connection to the North York transit network. 3 9 6
Examples by price, size, and status
The records combine move-in-ready homes, recently completed buildings, pre-construction projects, and assignments. That distinction affects payment timing, purchaser obligations, inspection opportunities, and the certainty of occupancy. The following comparison summarizes the supplied examples without treating the figures as a live inventory or guarantee of current availability.
| Example | Recorded price | Size and layout | Status or location |
|---|---|---|---|
| Reina Condos | $499,900 | Approximately 671 sq. ft., 1-plus-den | New Etobicoke residence |
| Galleria 3 | $520,000 | 737 sq. ft., 2 bedrooms, 2 baths | Assignment, Dupont and Dufferin |
| King’s Landing | $599,000 | 535 sq. ft., 1 bedroom | Assignment, North York |
| The Narrative | $749,990 | 600 to 699 sq. ft., 2 bedrooms, 2 baths | New suite, Rouge |
The data also includes Westbend Residences in High Park North at $447,896, a Connaught 45 residence in Leslieville at $566,000, and a one-plus-den home in Islington City Centre West at $525,000. These records demonstrate that the lower part of the range may involve smaller interiors or fewer parking options, while higher-priced examples may provide additional bedrooms, views, or newer amenity packages. 3 7 9
Fees and ownership costs beyond the asking price
Condominium ownership involves recurring charges and transaction costs that are not always included in the headline figure. The Reina listing reported maintenance fees of $418.60, while the XO Condos listing reported $549.22. Connaught 45 reported $557.60, and Olive Residences stated a maintenance rate of $0.69 per square foot, with separate parking and locker maintenance figures. These amounts can materially affect monthly housing expenses. 2 4 7 1
Parking and lockers also vary considerably. The Etobicoke Reina example recorded no parking and no locker, while the XO and Connaught 45 examples included lockers. The Islington residence included one underground parking space and one storage locker. Property taxes are another separate obligation, with supplied records showing $2,365.87 for Reina and $3,345.48 for XO for the stated tax year. Buyers should also investigate development charges, applicable taxes, legal costs, utility metering, and assignment-related charges before comparing prices. 2 4 7 9
Deposit structures, financing, and eligibility
Pre-construction and assignment transactions do not function like ordinary purchases of completed resale homes. Olive Residences described a total deposit structure of $50,000, divided across signing, 30-day, and 90-day payments, with the balance reaching 20 percent on occupancy. King’s Landing recorded an assignment price of $599,000, an original purchase price of $771,900, and a seller-paid developer deposit of $270,165. Such figures require careful review of the purchase agreement and developer consent requirements. 1 6
Mortgage financing remains subject to lender approval, borrower qualifications, appraisal results, and the timing of occupancy or closing. A purchaser may also need to establish eligibility for any tax treatment or housing-related adjustment reflected in a listing calculation. The Westbend record specifically stated that its price incorporated an estimated Ontario enhanced new housing HST rebate and depended on purchaser eligibility. This illustrates why an advertised figure may not represent the final amount payable by every buyer. 3
Risks, verification, and regulatory context
Availability and pricing can change as developer inventory, brokerage listings, assignments, and completed units move through different stages. Project directories such as BuzzBuzzHome, Livabl, and CondoNow provide market-reference information, but their project data should be checked against current documents and the responsible listing or sales representative. Municipal housing research and CMHC market information can provide broader context on supply, affordability, occupancy, and condominium conditions without confirming the terms of a particular unit. 11 12 13 14 15
Important verification points include the building’s legal status, occupancy date, unit measurements, exposure, parking rights, locker ownership, maintenance-fee inclusions, tax history, warranty coverage, and the condominium corporation’s governing documents. Market statistics from the Toronto Regional Real Estate Board can help place asking prices in context, but they do not eliminate construction, financing, assignment, maintenance, or resale risks. A complete assessment therefore requires both unit-level documentation and broader market research. 16
Sources
- CondoTrend, Olive Residences: https://condotrend.com/projects/olive-residences/
- Property.ca, Reina Condos listing: https://property.ca/toronto/689-the-queensway-etobicoke/unit-321-W13766374
- Square Yards, Westbend Residences listing: https://www.squareyards.ca/sale/on/toronto/high-park-north/unit-708-1660-bloor-street-w
- Property.ca, XO Condos listing: https://property.ca/toronto/270-dufferin-street-toronto/unit-318-W13763810
- Tall Property, KÜL Condos: https://www.tallproperty.com/property/kul-condos-by-equiton-developments-in-etobicoke/
- MyCondoPro, King’s Landing assignment: https://mycondopro.ca/project/kings-landing-1bedroom-unit-for-assignment-148/
- Property.ca, Connaught 45 listing: https://property.ca/toronto/45-connaught-avenue-toronto/unit-402-E13689014
- Connect.ca Toronto Assignments, Galleria 3: https://condoassignmentstoronto.ca/listings/galleria-3-assignment-2bed-toronto/
- Square Yards, Islington City Centre West listing: https://www.squareyards.ca/sale/on/toronto/islington-city-centre-west/unit-901-5101-dundas-street-w
- Square Yards, The Narrative listing: https://www.squareyards.ca/sale/on/toronto/rouge-e11/unit-908b-7437-kingston-road
- BuzzBuzzHome, Toronto new homes: https://www.buzzbuzzhome.com/toronto-on
- Livabl, Toronto new condos: https://www.livabl.com/toronto-on/new-condos
- CondoNow, Toronto developments: https://www.condonow.com/toronto
- City of Toronto, housing research: https://www.toronto.ca/city-government/data-research-maps/housing-research/
- Canada Mortgage and Housing Corporation, Housing Market Information Portal: https://www03.cmhc-schl.gc.ca/hmip-pimh/en#Profile/2270/3/Toronto
- Toronto Regional Real Estate Board, market data: https://trreb.ca/market-data/market-watch/