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Feb 10, 2024 · The condo market has slowed in Canada. Photo by Jason Payne/PNG. Shaun Hildebrand, president of Urbanation Inc., talks with the Financial Post’s Larysa Harapyn about the state of the Canadian condo market. Hildebrand said sales of new condominiums fell significantly last year and new construction starts have plunged, with more of the same ...
- Condo sales are falling across Canada
In Toronto, Canada's condo hub, sales are down almost 13 per...
- Condo sales are falling across Canada
Oct 31, 2024 · A condo development is seen under construction on the waterfront, in North Vancouver, B.C., on Thursday, July 25, 2024. THE CANADIAN PRESS/Darryl Dyck
Oct 3, 2023 · In Toronto, Canada's condo hub, sales are down almost 13 per cent from last year and the average price has slipped 6 per cent to just under $750,000. Photo by Brent Lewin/Bloomberg. Looks like there’s trouble in condo land. Pressures from the same forces of higher interest rates and economic uncertainty that have buffeted Canada’s housing ...
Oct 30, 2024 · New condo sales were down over 50% in the first half. OTTAWA, Oct 30 - Canada's home ownership crisis is likely to worsen over the next few years as proposed project sales languish at historically ...
The report's findings paint a grim picture. Over 80% of GTA condo investors are cash flow negative, with average monthly losses ranging from $1,000 to $1,500 per unit. These investors, many of whom entered the market hoping for long-term appreciation to offset short-term losses, now find themselves caught in a tightening financial vice.
Aug 23, 2024 · In the first half of 2024, new condo sales in the Greater Toronto Hamilton Area (GTHA) totalled just 3,159 units, representing a 57% decline from the previous year and a staggering 72% below the 10-year average. This marks the slowest start for new condo sales since 1997. In Q2 2024, of the 3,625 units launched for presale, only 17% were sold ...
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Is the condo market slowing in Canada?
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Why are condo prices falling in Toronto?
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Why did Toronto's condo sales fall 57 per cent?
Aug 15, 2024 · As the Toronto condo market faces a major slowdown, Pasalis said there are two major trends occurring. One is that sales have fallen due partly to the fact that end users are facing challenges when buying units and “investors have largely disappeared.” “And on top of that, we have a lot of investors selling. They’re exiting the market.
