The 10 condo buildings with the highest share of registered short-term rentals — and what it means for buyers and renters.
Most condo buyers never think to ask how many units in the building they're about to buy into are short-term rentals (STRs). They should. A building where a large share of the units are run as Airbnbs is a different place to live: a lobby that looks like a hotel check-in on Friday afternoons, suitcases in the elevators, neighbours who change every few nights, and a condo board and management team spending their time on noise complaints and key handoffs instead of the building.
That is why MoveSmartly.com shows the share of units registered as short-term rentals for every condo building in Toronto, alongside the other things we think a buyer should know before making an offer. Our whole approach is built on telling you what's not in the listing, and this is one of the clearest examples. No listing will tell you that four in ten units in the building are licensed to operate as hotel rooms.
There is a financial side as well. Buildings that lean heavily on short-term rentals tend to attract investors rather than end users, and when the investors decide to sell at the same time, there aren't many people lining up to buy a 400-square-foot unit to live in. That isn't a rule, and a couple of the buildings below show that a great location can override it, but it is something to be mindful of before you buy.
Toronto has 3,583 short-term rental registrations in condo buildings, spread across 291 buildings. The ten below hold 1,953 of them, more than half. They fall into two groups. Six sit within a kilometre of the Rogers Centre and Scotiabank Arena — 300 Front Street West, Parade II, Peter Street Condos, ICE Condos, Studio Two and Maple Leaf Square — and their units are mostly ordinary downtown sizes. Location is the product: the events calendar, the convention centre and the waterfront do the work. The other group was built for it. Dundas Square Gardens and the two Yorkville Plaza buildings sit two to three kilometres from the stadiums and have between 42% and 54% of their units under 500 square feet, against 8.5% across the city's condos. Here the unit is the product: hotel-room scale, whatever the address. Burano on Bay fits neither — an older tower with generous units on the Bay Street corridor near the hospitals and the university — and still made the list.
Across the ten buildings combined, roughly 22% of units are under 500 square feet, about two and a half times the city rate, and only 7% are 1,000 square feet or more, a third of the city rate. Dundas Square Gardens is the extreme case: 26% of its units are under 400 square feet, thirteen times the citywide share, and it turned over 214 leases in the past year on top of its 285 short-term rental registrations. It is the most transient building on the list.
The buildings built small have paid for it. Since prices peaked in 2022, condos in the downtown core have lost about 24% of their value per square foot. The four small-unit towers have lost more: Dundas Square Gardens is down 35%, Peter Street and Residences of Yorkville Plaza 30%, and Yorkville Plaza 29%.
Look back further and the damage spreads beyond the small units. Toronto condos as a whole are worth about 4% less per square foot than they were in 2019, and the downtown core about 13% less. Five buildings on this list are down more than 20% over the same period — Burano on Bay, ICE Condos, Residences of Yorkville Plaza, Studio Two and Peter Street — which means every one of them has given back the entire pandemic run-up and more. Three bucked the trend. 300 Front Street West, Parade II and Maple Leaf Square are down 9%, 12% and 12% since 2019, in line with or better than the core, and all three sit beside the stadiums with normal-sized units. Dundas Square Gardens and Yorkville Plaza have no 2019 resales to compare, having completed in 2019 and 2021, but their declines from the peak speak for themselves.
Our counts come from the City of Toronto's short-term rental registry, the licence required to rent a home for fewer than 28 nights, on Airbnb or any other platform. We counted every registration at each building's address and divided by the number of units in its condominium declaration; buildings under 50 units were excluded. A registration is a licence, not a booking, and the City's rules require it to be the host's principal residence, rented whole for no more than 180 nights a year. How closely those rules describe what actually happens inside a 400-square-foot unit is a fair question. Unregistered listings are not counted. Prices and rents are from TRREB MLS records; price per square foot uses declared suite sizes and excludes parking.
300 Front Street West is a 49-storey, 684-unit condominium in the Entertainment District, completed in 2014 by Tridel, and 299 of its 684 units — 43.7% — are registered as short-term rentals with the City of Toronto. The median suite is 658 square feet, and only 5% of the units are under 500 square feet, compared with 9% across Toronto. 8% of the units are 1,000 square feet or larger (Toronto: 20%).
So far in 2026, 12 units have sold in the building at a median price of $676,000. The average sale price per square foot for units without parking was $946 (down 9% from the same period last year); parking adds roughly $55,000 to a unit's value. Prices per square foot peaked in 2022 at an average of $1,128; this year's sales are running 16% below that peak, compared with a 24% decline for Toronto condos as a whole over the same period.
On the rental side, 27 units were leased over the past 12 months at a median rent of $3,100 a month (unchanged from a year earlier), or an average of $4.29 per square foot for units without parking. One-bedroom units rented for a median of $2,750 (-4% from a year earlier), and two-bedroom units for $4,500 (-6% from a year earlier). We estimate that about 38% of the building's units are rented rather than owner-occupied.
Parade II is a 43-storey, 920-unit condominium in Cityplace, completed in 2013 by Concorde Adex, and 369 of its 920 units — 40.1% — are registered as short-term rentals with the City of Toronto. The median suite is 638 square feet, and only 3% of the units are under 500 square feet, compared with 9% across Toronto. 8% of the units are 1,000 square feet or larger (Toronto: 20%).
So far in 2026, 12 units have sold in the building at a median price of $526,000. The average sale price per square foot for units without parking was $772 (down 5% from the same period last year); parking adds roughly $47,500 to a unit's value. Prices per square foot peaked in 2022 at an average of $1,029; this year's sales are running 25% below that peak, compared with a 24% decline for Toronto condos as a whole over the same period.
On the rental side, 66 units were leased over the past 12 months at a median rent of $2,525 a month (+1% from a year earlier), or an average of $3.84 per square foot for units without parking. One-bedroom units rented for a median of $2,400 (+1% from a year earlier), and two-bedroom units for $3,400 (+1% from a year earlier). We estimate that about 46% of the building's units are rented rather than owner-occupied.
Peter Street Condos is a 40-storey, 429-unit condominium in the Entertainment District, completed in 2014 by CentreCourt, and 169 of its 429 units — 39.4% — are registered as short-term rentals with the City of Toronto. The median suite is 520 square feet; 13% of the units are under 400 square feet and 35% are under 500, compared with 9% of condo units across Toronto.
So far in 2026, 6 units have sold in the building at a median price of $530,000. The average sale price per square foot for units without parking was $893; parking adds roughly $64,500 to a unit's value. Prices per square foot peaked in 2022 at an average of $1,282; this year's sales are running 30% below that peak, compared with a 24% decline for Toronto condos as a whole over the same period.
On the rental side, 59 units were leased over the past 12 months at a median rent of $2,350 a month (unchanged from a year earlier), or an average of $4.45 per square foot for units without parking. One-bedroom units rented for a median of $2,350 (+2% from a year earlier), and two-bedroom units for $3,250 (unchanged from a year earlier). We estimate that about 52% of the building's units are rented rather than owner-occupied.
Dundas Square Gardens Condos is a 50-storey, 1,012-unit condominium in Moss Park, completed in 2019 by Gupta Group, and 285 of its 1,012 units — 28.2% — are registered as short-term rentals with the City of Toronto. The median suite is 518 square feet; 26% of the units are under 400 square feet and 42% are under 500, compared with 9% of condo units across Toronto.
So far in 2026, 20 units have sold in the building at a median price of $400,000. The average sale price per square foot for units without parking was $788 (down 8% from the same period last year); parking adds roughly $21,500 to a unit's value. Prices per square foot peaked in 2022 at an average of $1,217; this year's sales are running 35% below that peak, compared with a 24% decline for Toronto condos as a whole over the same period.
On the rental side, 215 units were leased over the past 12 months at a median rent of $2,150 a month (+2% from a year earlier), or an average of $4.44 per square foot for units without parking. One-bedroom units rented for a median of $2,100 (unchanged from a year earlier), and two-bedroom units for $2,500 (unchanged from a year earlier). We estimate that about 68% of the building's units are rented rather than owner-occupied.
Residences of Yorkville Plaza is a 31-storey, 489-unit condominium in Yorkville, completed in 2017 by Camrost-Felcorp, and 133 of its 489 units — 27.2% — are registered as short-term rentals with the City of Toronto. The median suite is 440 square feet; 11% of the units are under 400 square feet and 54% are under 500, compared with 9% of condo units across Toronto.
So far in 2026, 7 units have sold in the building at a median price of $400,000. The average sale price per square foot for units without parking was $949 (down 14% from the same period last year); parking adds roughly $71,500 to a unit's value. Prices per square foot peaked in 2022 at an average of $1,345; this year's sales are running 29% below that peak, compared with a 24% decline for Toronto condos as a whole over the same period.
On the rental side, 75 units were leased over the past 12 months at a median rent of $2,400 a month (unchanged from a year earlier), or an average of $4.84 per square foot for units without parking. One-bedroom units rented for a median of $2,400 (unchanged from a year earlier), and two-bedroom units for $3,825 (+9% from a year earlier). We estimate that about 48% of the building's units are rented rather than owner-occupied.
ICE Condos is a 67-storey, 1,345-unit condominium in the South Core, completed in 2015 by Lanterra Developments and Cadillac Fairview, and 334 of its 1,345 units — 24.8% — are registered as short-term rentals with the City of Toronto. The median suite is 590 square feet; 10% of the units are under 500 square feet, compared with 9% of condo units across Toronto. 7% of the units are 1,000 square feet or larger (Toronto: 20%).
So far in 2026, 22 units have sold in the building at a median price of $528,000. The average sale price per square foot for units without parking was $829 (down 5% from the same period last year); parking adds roughly $63,000 to a unit's value. Prices per square foot peaked in 2022 at an average of $1,111; this year's sales are running 25% below that peak, compared with a 24% decline for Toronto condos as a whole over the same period.
On the rental side, 169 units were leased over the past 12 months at a median rent of $2,300 a month (-2% from a year earlier), or an average of $4.08 per square foot for units without parking. One-bedroom units rented for a median of $2,250 (-2% from a year earlier), and two-bedroom units for $3,100 (+3% from a year earlier). We estimate that about 52% of the building's units are rented rather than owner-occupied.
Studio Two is a 41-storey, 411-unit condominium in the Entertainment District, completed in 2017 by Aspen Ridge Homes, and 77 of its 411 units — 18.7% — are registered as short-term rentals with the City of Toronto. The median suite is 638 square feet; 13% of the units are under 500 square feet, compared with 9% of condo units across Toronto. 14% of the units are 1,000 square feet or larger (Toronto: 20%).
So far in 2026, 7 units have sold in the building at a median price of $615,000. The average sale price per square foot for units without parking was $823 (down 15% from the same period last year); parking adds roughly $64,500 to a unit's value. Prices per square foot peaked in 2023 at an average of $1,134; this year's sales are running 27% below that peak, compared with a 20% decline for Toronto condos as a whole over the same period.
On the rental side, 61 units were leased over the past 12 months at a median rent of $2,700 a month (-1% from a year earlier), or an average of $4.07 per square foot for units without parking. One-bedroom units rented for a median of $2,538 (+1% from a year earlier), and two-bedroom units for $3,300 (+2% from a year earlier). We estimate that about 53% of the building's units are rented rather than owner-occupied.
Yorkville Plaza is a 23-storey, 255-unit condominium in Yorkville, completed in 2021 by Camrost-Felcorp, and 46 of its 255 units — 18.0% — are registered as short-term rentals with the City of Toronto. The median suite is 505 square feet; 16% of the units are under 400 square feet and 43% are under 500, compared with 9% of condo units across Toronto.
So far in 2026, 5 units have sold in the building at a median price of $460,000. The average sale price per square foot for units without parking was $1,049; parking adds roughly $76,000 to a unit's value. Prices per square foot peaked in 2022 at an average of $1,470; this year's sales are running 29% below that peak, compared with a 24% decline for Toronto condos as a whole over the same period.
On the rental side, 50 units were leased over the past 12 months at a median rent of $2,500 a month (unchanged from a year earlier), or an average of $5.10 per square foot for units without parking. One-bedroom units rented for a median of $2,400 (-4% from a year earlier), and two-bedroom units for $4,300 (+1% from a year earlier). We estimate that about 66% of the building's units are rented rather than owner-occupied.
Burano on Bay is a 50-storey, 486-unit condominium in the Bay Street Corridor, completed in 2012 by Lanterra, and 87 of its 486 units — 17.9% — are registered as short-term rentals with the City of Toronto. The median suite is 724 square feet; 19% of the units are under 500 square feet, compared with 9% of condo units across Toronto. 20% of the units are 1,000 square feet or larger (Toronto: 20%).
So far in 2026, 6 units have sold in the building at a median price of $814,000. The average sale price per square foot for units without parking was $841 (down 11% from the same period last year); parking adds roughly $69,500 to a unit's value. Prices per square foot peaked in 2023 at an average of $1,212; this year's sales are running 31% below that peak, compared with a 20% decline for Toronto condos as a whole over the same period.
On the rental side, 96 units were leased over the past 12 months at a median rent of $2,750 a month (+6% from a year earlier), or an average of $4.21 per square foot for units without parking. One-bedroom units rented for a median of $2,400 (unchanged from a year earlier), and two-bedroom units for $3,650 (+4% from a year earlier). We estimate that about 63% of the building's units are rented rather than owner-occupied.
Maple Leaf Square is a 54-storey, 872-unit condominium in the South Core, completed in 2011 by Lanterra, and 154 of its 872 units — 17.7% — are registered as short-term rentals with the City of Toronto. The median suite is 607 square feet; 26% of the units are under 500 square feet, compared with 9% of condo units across Toronto. 9% of the units are 1,000 square feet or larger (Toronto: 20%).
So far in 2026, 12 units have sold in the building at a median price of $605,000. The average sale price per square foot for units without parking was $899 (down 2% from the same period last year); parking adds roughly $70,500 to a unit's value. Prices per square foot peaked in 2022 at an average of $1,212; this year's sales are running 26% below that peak, compared with a 24% decline for Toronto condos as a whole over the same period.
On the rental side, 114 units were leased over the past 12 months at a median rent of $2,450 a month (-2% from a year earlier), or an average of $4.16 per square foot for units without parking. One-bedroom units rented for a median of $2,350 (unchanged from a year earlier), and two-bedroom units for $3,350 (unchanged from a year earlier). We estimate that about 45% of the building's units are rented rather than owner-occupied.
