Tuesday, August 7, 2012
Condo investors have something to smile about – Canadian Real Estate Magazine
Two independent bank reports suggest condo investors’ assets will most likely retain their value and their cash flow will be supported by rental demand. Those who bought new condos and rented them once construction was complete could earn superior returns, according an analysis by Laurentian Bank. With condo rents 40% more expensive than apartment rentals of similar sizes within the Toronto CMA, condo investors should be reaping the rewards.
One economist was quoted as saying, “based on market activity to date, the total number of new housing units (condos) completed by builders has not exceeded the GTA’s demographic requirements and is unlikely to do so by any significant magnitude in the next few years.” Such an analysis counters fears that Toronto’s condos will fall in value.
For Ottawa real estate be sure to contact Bennett Property Shop Realty Brokerage