The condo market is hot! Bidding wars over rentals will always blow my mind, but it just goes to show you how badly people want to live in Toronto. I have first hand experience with this. I love living here, it's hard work but it's worth it.
"What makes Toronto's condos an attractive long-term bet is the city's low vacancy rate, which has fueled bidding wars among renters and driven monthly condo rents to an average of $2,074 in the second quarter, up 7.2 per cent from $1,935 a year ago, according to market research firm Urbanation."