Toronto’s condo market in a ‘moment of reckoning.’ What does it mean for investors?

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A whopping 36 per cent of Toronto condos are owned by investors. But even as savvy buyers lose money, they’re not jumping ship just yet.

, at 36 per cent . That’s slightly below the Ontario figure of 42 per cent of all condos , according to the data published in February.

“It’s really over the past decade that as housing prices have shot up, many homeowners, typically older and higher-income owners, became increasingly empowered and inclined to leverage their existing housing wealth and their typically higher incomes to bid up and buy out a fast-growing share of the GTA’s housing stock,” he said.

Mortgage broker Victor Tran of Ratesdotca said he sees the condo investor trend as “stable” based on the lack of change he’s seeing with his clients. That’s despite the fact some may be facing higher mortgage payments due to variable-rate mortgages, which are popular with investors because they allow more flexibility.

“It’s just regular people just like you, and that I guess you could say got lucky by purchasing a property years ago, got to ride the wave with property appreciation,” he said.

 

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