Condominiums in Canada

Toronto is the centre of this boom, with 17,000 new units being sold in 2005, more than double second place Miami's 7,500 units.[9] Toronto's condo population has grown from 978,125 in 2011 to 1.478 million people in 2016 representing 54.7% of the city population according to Toronto Condo News.


There are over 1.3 million condo owners and/or residents living in more than 587,000 condominium units in Ontario.

One in eight Canadian households lived in a residential condominium dwellings, mostly located in a few census metropolitan areas according to Statistics Canada Condominiums exist throughout Canada, although condominiums are most frequently found in the larger cities.


"Condominium" is a legal term used in most provinces of Canada. in British Columbia, it is referred to as "strata title" and in Quebec, the term "divided co-property" (French: copropriété divisée) is used, although the colloquial name remains "condominium".


With regular condominiums, the unit owner usually owns the internal unit space and a share of the corporation; the corporation owns the exterior of the

building land and common area; in the case of a freehold

condominium the owner owns the land and building and the

corporation owns common shared roadways and amenities.


The Canadian Condominium Institute is a non-profit association

of condominium owners and corporations with chapters in

each province and territory. The Condo Owners Association COA

Ontario is a non-profit association representing condominium

owners with divisions across the province and districts within the

various municipalities.


https://en.wikipedia.org/wiki/Condominiums_in_Canada

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