Neil Sharma is the Editor-In-Chief of Canadian Real Estate Wealth and Real Estate Professional. As a journalist, he has covered Canada’s housing market for the Toronto Star, Toronto Sun, National Post, and other publications, specializing in everything from market trends to mortgage and investment advice. He can be reached at [email protected]
According to a recent Equifax survey, 9% of respondents admitted they weren’t fully truthful on their mortgage applications and that Millennials were more comfortable with the idea of falsifying information.
Investing in a smaller unit like a studio condominium may be the safest bet for investors in an expensive market like Toronto. According to these experts, here's the cash flow you can expect to see.
According to an Urbanation report, preconstruction condo sales in the City of Toronto climbed to 2,886 in the first quarter of the year from 2,829 in Q1-2020.
"[...] Demand has been so high because people have the expectation that there’s no need to return to Toronto when the pandemic is over."
“On the periphery of Vancouver and Toronto, there are pockets of opportunity. When you look at commercial real estate broadly, retail is a victim of COVID and that’s still playing out.”
Canadian housing starts hit 273,664 in March, up from 252,636 a month earlier, but the enhanced activity still hasn’t been able to keep pace with voracious demand.
In March, new listings set a record by reaching 1 million across Canada, a 7.5% increase from the month prior. Bidding wars were commonplace and inventories fell to their lowest in decades.
Sixty-three percent of investors in the GTA were cash flow neutral or positive last year, up from 56% in 2017. Investors who purchased presale condo units saw better cash flow than landlords who bought resale units.
The total value of home sales nearly hit $1.5 billion last month - a 130.4% increase over March 2020, and the largest amount ever recorded for any month.
Condo layout design is one of Condoville Realty Inc.'s specialties. A functional design is always better than a bigger design, especially when it comes to millennials looking for efficiency.
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