C
Crewson
Guest
Does anyone know how much the property value of a new Condo will increase once it is built?
You heard it here first folks, the condo market is crash proof, supply won't exceed demand, and your investment is safe.As for a condo oversupply, this idea has been around for years. Again, it hasnt happened so far. New condo projects don't begin construction until they are at least 60% sold. This means real sales, with signed and enforceable Agreements and with substantial deposits in the bank. Demand may slow somewhat, but supply would adjust pretty quickly, in that those which haven't started construction can be cancelled, and new projects simply won't come to market. I won't be surprised to see some slowing of new construction, at some point, but that is certainly not the same as an oversupply.
There's three on Sackville Street that my sources tell me might come up on the market once the old fellow owning them expires."I'd buy a rooming house in Cabbagetown, evict the rabble and restore it to its full potential"
There's still some of these left? Methinks you're 25 years too late... try Parkdale instead.