interested
Senior Member
I am not sure if you are referring to a comment that I made but I believe it is incorrect. for clarification: what I said was:
"If it is true that almost 100% of precon is driven by "investors", what percentage of them are very extended and how many will be unable to close if on completion the value of the $700 precon condo is only $550/sq.ft. as today at resale." What has been quoted from Remaxcondosplus and Jamie Johnson is that almost all precon is driven by investors since most end users will not buy 3-5 years ahead of time whereas investors will. Of course there are end users buying as you correctly point out. I am just not sure what the percentages are but i suspect of late most of the buying is by "investors" in precon to be constructed in 4 years from now at $650 to $750/sq.ft.
The percentage ratio of investors/end users is not known. My personal guess is that it is 75 to 80% vs. 20 to 25%.
I do not know how many foreign investors there are but I can only hazard a guess and it is a pure guess. I would think 20-30%.
"If it is true that almost 100% of precon is driven by "investors", what percentage of them are very extended and how many will be unable to close if on completion the value of the $700 precon condo is only $550/sq.ft. as today at resale." What has been quoted from Remaxcondosplus and Jamie Johnson is that almost all precon is driven by investors since most end users will not buy 3-5 years ahead of time whereas investors will. Of course there are end users buying as you correctly point out. I am just not sure what the percentages are but i suspect of late most of the buying is by "investors" in precon to be constructed in 4 years from now at $650 to $750/sq.ft.
The percentage ratio of investors/end users is not known. My personal guess is that it is 75 to 80% vs. 20 to 25%.
I do not know how many foreign investors there are but I can only hazard a guess and it is a pure guess. I would think 20-30%.