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Condo Building in GTA low risk

July 20, 2016

Condo building in GTA is low risk says CMHC

 
 

That’s the finding of a report by the Canada Mortgage and Housing Corp. which shows that 79 per cent of condo projects are only started once at least 70 per cent of the units have been sold. Generally the only exceptions are for smaller developments.

“Condo building activity in Toronto seems to be well managed. In spite of this encouraging information, future inventory management remains critical,” commented Dana Senagama, Principal Market Analyst, GTA Canada Mortgage and Housing Corporation.

The CMHC says that unsold inventory is largely concentrated in downtown Toronto and Markham where the condo markets are more active. Where there are large numbers of unsold units, these are developments which began construction before reaching the threshold of 70 per cent sold.
 

Are you looking for a property? If you like, we can get one of our property experts to help you find exactly what you are looking for. Contact us at Durham Bungalows!

 

source: http://www.canadianrealestatemagazine.ca/market-update/condo-building-in-gta-is-low-risk-says-cmhc-210773.aspx

 


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