Toronto condo development in trouble
The condo market in Toronto may be about to experience some extreme changes. A new report from Bank of America Merrill Lynch Global Research suggests the Toronto condo market could soon see an increase in the amount of available units throughout the city.
This report is supported by low rental vacancy rates in the Toronto area, as well as strong investor demand. These trends are expected to continue and increase throughout the area into the next year and beyond
The problem lies with the investors. The construction of new condominium buildings may increase the rental vacancy rate as these units come on to the market. Without the demand for these living accommodations, many units may go unoccupied.
Read the full article here.
The condo market in Toronto may be about to experience some extreme changes. A new report from Bank of America Merrill Lynch Global Research suggests the Toronto condo market could soon see an increase in the amount of available units throughout the city.
This report is supported by low rental vacancy rates in the Toronto area, as well as strong investor demand. These trends are expected to continue and increase throughout the area into the next year and beyond
The problem lies with the investors. The construction of new condominium buildings may increase the rental vacancy rate as these units come on to the market. Without the demand for these living accommodations, many units may go unoccupied.
Read the full article here.