The condo market, which is clearly in recessionary territory, has conditions deteriorating to levels not seen in decades. What makes the situation more challenging is the role of investors in the presale market, which have made up to 70% or more of buyers.
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Challenges for preconstruction and resale condos in certain Canadian markets.
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Condos are a major challenge in Canada’s real estate and economy.
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Comparison of condo market with detached housing market.
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Evaluation of investment types: preconstruction, resale condos, and detached homes.
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Insights from a CIBC (TSX:CM) and Urbanation report discussed.