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- While rental construction has risen, condominium starts have declined in most of the country’s largest markets. Condominium development in the first half of 2024 is not keeping pace with the country’s growing population and urban expansion.
www.canadianrealestatemagazine.ca/news/condominium-construction-challenges-10-2024/
Oct 18, 2024 · New condo sales in the Greater Toronto and Hamilton Area are continuing to drop off, falling 81 per cent in the third quarter of 2024 compared to the same period last year, according to a new...
- Codi Wilson
Aug 15, 2024 · Real estate markets will feel the downstream effects from a slowdown in Toronto’s condo market, according to one real estate expert who expects fewer completions of new units over the next few years.
TRREB Releases 2024 Q3 Condo Market Statistics. Relatively high borrowing costs continue to impact the Greater Toronto Area (GTA) condominium apartment market segment in the third quarter of 2024. Sales were down on a year-over-year basis.
Oct 30, 2024 · The province is projecting a lower number of housing starts for 2024, 2025, 2026 and 2027 in the fall economic statement tabled by Finance Minister Peter Bethlenfalvy on Wednesday.
Oct 25, 2024 · Canada’s condominium and apartment construction market is facing various challenges in 2024, as rising costs, slower demand, and financing difficulties put pressure on developers. While rental construction has risen, condominium starts have declined in most of the country’s largest markets.
- Joanna Gerber
Jan 29, 2024 · We project home resales in Canada to rebound 9.2% year-over-year to 484,400 units in 2024—partially reversing massive declines of 25.1% in 2022 and 11.1% in 2023. That number of transactions would still fall short of the level reached before the pandemic in 2019 (490,900 units).
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Apr 4, 2024 · Decline in Housing Starts: We anticipate a decline in total housing starts for 2024 and 2025, primarily driven by high construction and financing costs impacting new apartment developments (condo and purpose-built rental).
