Current condo market vibe | Explinations ?
I'm confused, so I'm going to ask the condo experts ..
Clearly FOMO is back and condos are being eating up again by investors - and this time around I must assume a much higher volume of domestic buyers. I've been looking in some pockets I have interest in, and even missed out on a couple that went too fast. However, I continue to follow the leasing end of the story and don't see the correlation? Is the assumption that demand for these units on the rental side is lagging and must follow?
What do the condo pros think of newer Bathurst Manor product? I've had much success in this neighborhood with detached rental product on future build lots - I find tenant demand drawn to this hood very stable. I also prefer smaller buildings with limited amenities to keep long term maint costs in check. $850ish psf is very doable in this area with excellent access to transit, good schools and all around walkability.
I do follow the demand inputs for this market, U of T's move to go fwd with a large student residence is interesting given the glut of supply that the market currently faces. Hotels are so desperate in the core, they're chasing students as well .. let alone the purpose built student housing that's barely hanging on. Is that academia looking fwd to the demand that about to roar back .. or is that the nail in the coffin for some purpose built product that Uni operated housing will always be able to outperform.
https://torontostoreys.com/plans-u-of-t ... -revamped/
DoubleTree Hotel on Chestnut current chasing after students (89 Chestnut directly across street is one of the largest student housing in the system): http://newreztoronto.com/
Appreciate your comments ..
Clearly FOMO is back and condos are being eating up again by investors - and this time around I must assume a much higher volume of domestic buyers. I've been looking in some pockets I have interest in, and even missed out on a couple that went too fast. However, I continue to follow the leasing end of the story and don't see the correlation? Is the assumption that demand for these units on the rental side is lagging and must follow?
What do the condo pros think of newer Bathurst Manor product? I've had much success in this neighborhood with detached rental product on future build lots - I find tenant demand drawn to this hood very stable. I also prefer smaller buildings with limited amenities to keep long term maint costs in check. $850ish psf is very doable in this area with excellent access to transit, good schools and all around walkability.
I do follow the demand inputs for this market, U of T's move to go fwd with a large student residence is interesting given the glut of supply that the market currently faces. Hotels are so desperate in the core, they're chasing students as well .. let alone the purpose built student housing that's barely hanging on. Is that academia looking fwd to the demand that about to roar back .. or is that the nail in the coffin for some purpose built product that Uni operated housing will always be able to outperform.
https://torontostoreys.com/plans-u-of-t ... -revamped/
DoubleTree Hotel on Chestnut current chasing after students (89 Chestnut directly across street is one of the largest student housing in the system): http://newreztoronto.com/
Appreciate your comments ..
