Fred Lum/The Globe and MailAnecdotes abound, but the only positive data points are the relative bumps in sales that saw 1,551 condominium apartments sell in December across the city. According to data from the Toronto Region Real Estate Board, it wasn’t even the busiest month of the year , but it was about the same level as September and August , which was welcome news to realtors who observed down months in October and November .
According to Urbanation Inc., the total number of active apartment listings for Toronto in December was 8,076, down 12 per cent from September, but up 162 per cent from December, 2019. “Even with the recent decline, investors are still paying 2019 prices for rents that are at 2013 levels and falling. It takes a lot of confidence to jump into that market,” Mr. Pasalis said. “I think a lot will depend on what the rental market looks like in [the first quarter]. If the rental market levels out and rents stay flat or improve then I think investors will keep buying.”
Why would anyone buy a condo? You pay for the price to buy it, you pay for the fees you pay for parking Tough to make a dime
So developers are inflating market value. Shouldn't that be illegal?
Patience.... It's going to get worse.
Be aware - some condo corporations are not maintaining the important insurance protections for their properties and leaving condo owners exposed in the event of major claims - part of why the condo market is tanking - do your research before you BUY!
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