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The Toronto Condo Market This Week (June 26, 2015)

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toronto condo market news june 26

Condo boom has helped stabilize housing market: CIBC

The booming condo market has so far been a stabilizing, rather than a destabilizing, force in Canada’s housing landscape – an affordable safety valve for first-time buyers, renters and newcomers… but demand appears to be moderating.

Opportunities seen in booming condo market as reforms emerge.

The Liberal government’s widely welcomed May 27 introduction of Bill 106, the Protecting Condominium Owners Act, which will revamp the Condominium Act, 1998 and other statutes, “is a positive thing for unit owners and condo corporations and managers,” says Christopher Jaglowitz of Toronto’s Gardiner Miller Arnold.

Foreign investors in Canada’s housing market need to be counted, experts say

There is scant data available on how many foreign investors are snatching up Canadian homes, and experts say the knowledge gap needs to be filled if policy makers hope to maintain the stability of the country’s real estate market.