4/1/2023 0 Comments Sisyphus table for saleAll (100%) of newly constructed units were owned by investors in Norfolk, and Woodstock. Frothy, almost rural markets, have left virtually no new condos for anyone but investors. The investor frenzy isn’t just in major cities with perceived growth potential. Investors Own Nearly All New Supply In Some Small Cities Hamilton was more in line with the rest of the province at 53.4%), but the majority still went to investors. The Kitchener-Cambridge-Waterloo corridor was only slightly worse (76.7%), but still overrepresented compared to the province. In London, over 4 in 5 (80.9%) of new condos were investor-owned. The trend was similar, or worse, right across Ontario’s largest cities. Most New Condos Are Investor-Owned In Ontario’s Major Cities Source: Statistics Canada Better Dwelling. The share of newly constructed condo apartments (2016 or later) owned by investors in 2020. Most of Ontario’s New Condos Are Investor Owned This implies pre-sale units are even higher. That’s especially impressive when you consider how many investors sell new condos as soon as they’re built. Toronto CMA is slightly underrepresented (55.2%), though investors still owned most of the units. Investors held 56.4% of Ontario condos made in 201`6 or later, as of 2020. Most of Ontario’s new condos are now investor owned, even in Greater Toronto, which has a high volume of condos. Investors Own Most of Ontario’s New Condos, Toronto Included It’s not just big cities like Toronto or Hamilton either, most new condo units were going to investors-even before record price growth in 2021… or potentially causing that record growth. Diving into the numbers, we found that most of Ontario’s new condos (2016 or later) are owned by investors. Statistics Canada (Stat Can) data confirmed investor-ownership using 2020 tax data. Ontario real estate is dominated by investors, and this didn’t happen overnight.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |