The Million Dollar Condo Question: Are There Enough?

Karen KesselDowntown Guelph, Real Estate News

For the past 9 years, Planet Realty Brokerage has focused a large portion of their business on condominium sales in and around the Guelph area. With it’s safe, close-knit community and urban arts and culture draw, it should come as no surprise that downtown Guelph has become home to some of the most beautiful and luxurious condominiums, offering an elevated lifestyle to all segments of the market.

With that said, it has become most apparent that the demand for higher-end condos far exceeds the supply. Empty nesters moving downtown from the suburbs and countryside in Guelph and surrounding communities are clamouring for upper-tiered condos and are prepared to pay over a million dollars for the style of living they desire or are accustomed to.

But what would you say if I told you that there aren’t enough million-dollar condos in the city of Guelph?  

In 2014, Planet Realty listed and sold the first million dollar penthouse condominium in Tricar’s RiverHouse Condominium Residence in downtown Guelph. Since then, we have continued to list and sell million dollar suites with a passion. In fact, in past 3 years the lionshare of higher-end suites in Guelph have been listed and sold by our firm.

With two high-rise condominium residences in downtown Guelph, The Tricar Group has gained a notable reputation for their prestigious designs, exceptional quality and functionality. Many of their condo suites are spacious and have essential facilities for comfortable and luxurious living. From contemporary 2 and 3 bedroom designs, chef-inspired kitchens, dreamy master bedrooms and luxurious baths, they are delivering and checking all of the boxes.

And its not just the suites that add value to these higher-end condominiums. All of the Tricar buildings feature lifestyle amenities that enhance the living environment. You can expect hotel inspired lobbies of stone and wood, accented with floor to ceiling fireplaces, outdoor gardens and terraces with alfresco dining areas and lounge seating, theatres, exercise facilities, guest suites and more!

The Tricar Group is now marketing and selling their new master-planned condo community, Gordon Square in south Guelph. Phase 1 is now 85% sold and in the past year, our firm has sold 4 penthouses for one million plus! Yes, demand and values for higher-end condos is spreading across the City.

Fusion Homes is also delivering contemporary lifestyle living with their master-planned community, The Metal Works. Located in downtown Guelph along the banks of the Speed River, their first and second buildings offer higher-end “Lofts” and “Bank Houses” that front onto the river and provide multiple terraces and private walk-up entrances. These sought after suites as well as their upper penthouses with up to 20’ ceilings, luxurious appointments and expansive terraces are redefining our perspective on what modern living can offer. 

Though it may come as a surprise to you the number of million dollar condos that have sold in Guelph over the past few years, these home designs showcase the best our city has to offer in location, views, amenities, finishes and design, and the market is telling us that there just isn’t enough of them! 

Specializing in condominium sales, Planet Realty is a team of professional Brokers and sales people with over 35 years of experience making us your optimal choice to represent you in the selling or buying luxury homes and condominium suites.

If you want to learn more about the current market, information about our services or about listings you see currently featured on the market or in the future, contact Karen Kessel or Matthew LaFontaine at 519-837-0900. We are here to assist you in finding the home of your dreams!