In light of Toronto and Vancouver's condominium conundrum, where prices for shoebox units remain high despite plummeting sales and rising inventory, Statistics Canada has released data demonstrating the role that investors may play in the issue.According to StatsCan, investors owned 65% of Toronto's...| Storeys
Over half of the condo apartments built in Toronto in recent years were owned by investors, according to new data from Statistics Canada.From 2016 to 2021, investors owned 37,580 newly constructed condos in Toronto, accounting for 56.7% of new builds. It seems that this percentage of investor-owned ...| Storeys
At a press conference on July 22, Ontario Premier Doug Ford stood before a room full of reporters and told them, to scattered applause, that new homes would “pop up like mushrooms everywhere” if the Bank of Canada lowered interest rates. And he was fairly specific about it, saying that this supposed...| Storeys
Data from Urbanation and CIBC highlights the fact that the GTA is “facing the most significant test since the 1991 recession,” and condo investors are feeling it hard.| Storeys
Toronto condo investors were losing an average of $223 per month in 2022, compared with earnings of $63 per month in 2020.| Storeys
In June, Toronto Regional Real Estate Board (TRREB) reported more than an 80% year-over-year increase in active condo listings. This month, the market continued in its lopsided fashion with July seeing a nearly 64% increase in active condo listings compared to the same month last year.Active condo l...| Storeys
Condo listings in the Greater Toronto Area (GTA) are up substantially from 2023 and sales are down, according to the Toronto Real Estate Board’s (TRREB) Q2 findings. Meanwhile, the region's condo rental segment is seeing plenty of demand. TRREB President Jennifer Pearce explained in a release that w...| STOREYS