Among one of the strongest real estate markets in North America, Toronto is the heartbeat of Canada, a centre for cultural diversity, commerce, and economic development. Home to 2.8 million, Toronto takes in an average of 100,000 newcomers annual, directly affecting its real estate market. Regardless of new real estate policies in effect and changes to lending rules, along with restrictions to land use, Toronto has continued to be an overall stable and growing market. Recently, construction in Toronto has mainly focused on new condominiums due to the lack of available land and exponential population growth.