The Toronto Condo Market is not as fragile as many people seem to think, especially the naysayers. The Market is not a stand alone market for buyers, other participants in the market are the renters, which there has been very little pure new rental stock built. Most new condos built in Toronto end up with about 40% of their inventory being rented out by stand off investors (or speculators as some like to call them). Even with the record breaking speed and amount of construction, it will not keep up with rental demand, especially true in the downtown core, where everyone seems to be flocking. The choice in Toronto is live in a Condo in a great transit friendly neighborhood, or live in a far flung suburb, with little access to reliable and speedy transit.
No comments:
Post a Comment