Real Estate

This is what condo developers think condos will be worth in Toronto in 2025 (Price list pictures inside)

  • Last Updated:
  • Apr 2nd, 2019 4:22 pm
Deal Addict
Jul 3, 2007
2206 posts
2287 upvotes
Toronto
wheres the incentive to buy at these prices , gambling that 6 years out they will be worth this much?

why not buy resale right now instead and avoid the gamble? Its about 40% cheaper...

there is no incentive to buy new condos at these prices....
Member
Jun 1, 2017
453 posts
396 upvotes
It's reasonable since every price is rising.
Next week the gas price will be up because of the carbon tax. Last year the minimum wage was raised sharply.
[OP]
Banned
Aug 3, 2005
1235 posts
1162 upvotes
joepipe wrote: wheres the incentive to buy at these prices , gambling that 6 years out they will be worth this much?

why not buy resale right now instead and avoid the gamble? Its about 40% cheaper...

there is no incentive to buy new condos at these prices....
...who is to say the 300sqft studio for $500k wont actually be going for $600k or $700k at the time of completion?

Some people have lots of money and love to gamble, it could pay off.

Also, you know who else will be buying these condos, rich Asians sending their kids to UofT.
Deal Fanatic
May 1, 2012
9166 posts
7614 upvotes
Markham
joepipe wrote: wheres the incentive to buy at these prices , gambling that 6 years out they will be worth this much?

why not buy resale right now instead and avoid the gamble? Its about 40% cheaper...

there is no incentive to buy new condos at these prices....
I always wondered, why you're so insistent on being the #1 Bear on these forums. There have been countless people on here trying to stroke the RE Bear, but they've all vanished. I remember the good old times with prime candidates arguing day and night about how RE is basically going to doom.

One after another, they've all sailed into the dark and never returned.
Deal Addict
User avatar
Mar 23, 2003
3946 posts
859 upvotes
Hamilton
The idea of investing in a future built project is to get a good deal well before.
6years out and they want prices of such high calibre doesn't make sense when you can buy much cheaper and done right now.
I dunno what these guys are doing.
Is this a well known builder that follows through with completion? What's their track record?
It sounds like they're taking advantage of Ontario flexibility of stupidity with cancellation policies.
If price goes up they cancel.
If price stays on track they finish and sell.
If price goes down they finish and sell.
Either way. As a buyer. It's lose lose lose!
Stay clear.
Deal Addict
Jul 3, 2007
2206 posts
2287 upvotes
Toronto
sidshock wrote: The idea of investing in a future built project is to get a good deal well before.
6years out and they want prices of such high calibre doesn't make sense when you can buy much cheaper and done right now.
I dunno what these guys are doing.
Is this a well known builder that follows through with completion? What's their track record?
It sounds like they're taking advantage of Ontario flexibility of stupidity with cancellation policies.
If price goes up they cancel.
If price stays on track they finish and sell.
If price goes down they finish and sell.
Either way. As a buyer. It's lose lose lose!
Stay clear.
Exactly my point, only an idiot would buy at these prices instead of just buying a resale unit now...

but the pumpers on here love to sell the Kool aid on these projects lol...
Banned
Dec 5, 2018
14 posts
17 upvotes
moofur wrote: Proximity to U of T, Queen's Park, and hospital row means a lot of high paying jobs,, international students, and well paid renters. It's also close to City Hall, Yonge/Dundas, and right on the subway line.

One Yonge is great too since it's close to the South Core, so it depends on what you're looking for.
There are plenty of condos on Yonge that would offer similar if not better value if you are looking for proximity to shops/eaton center/restuarants etc.

Bay street professionals live along yonge or near union station. There is no real benefit to near UofT if you are already working in a high paying job

The prices for this place are 1600-1700+/sq ft. This is 50% more than current downtown condo prices, and current condos are already renting for $2500/month for a 1bdrm. In what universe are City hall employees or UofT students able to pay $3500-$4000/month for 1bdrm? The few individuals that have this kind of money have plenty of better options to rent or buy.

Again, what is "special" about this project that can demand this kind of pricing premium? This is more expensive than Aura and upcoming developments like One Yonge, but I'm not seeing how it's better in any way. The builder is no-name, and the building itself doesn't look like any special from a design perspective either...
Last edited by dontbeanactuary on Mar 28th, 2019 1:59 pm, edited 1 time in total.
Deal Addict
Jul 3, 2007
2206 posts
2287 upvotes
Toronto
Anikiri wrote: I always wondered, why you're so insistent on being the #1 Bear on these forums. There have been countless people on here trying to stroke the RE Bear, but they've all vanished. I remember the good old times with prime candidates arguing day and night about how RE is basically going to doom.

One after another, they've all sailed into the dark and never returned.
go buy one of these units then if you're so confident... *
Banned
Dec 5, 2018
14 posts
17 upvotes
Anikiri wrote: I always wondered, why you're so insistent on being the #1 Bear on these forums. There have been countless people on here trying to stroke the RE Bear, but they've all vanished. I remember the good old times with prime candidates arguing day and night about how RE is basically going to doom.

One after another, they've all sailed into the dark and never returned.
I will personally send you a cheque of $100 if you can show me proof that you've bought one of these units. No strings attached, nothing. People who buy this shit are going to be incredibly sorry. This has nothing to do with being a bear, it is just common sense.
[OP]
Banned
Aug 3, 2005
1235 posts
1162 upvotes
dontbeanactuary wrote: I will personally send you a cheque of $100 if you can show me proof that you've bought one of these units. No strings attached, nothing. People who buy this shit are going to be incredibly sorry. This has nothing to do with being a bear, it is just common sense.
Is it? If it was common sense and you know where the market will be in 2025, why the hell are you not rich since you can predict the future?

Why instead, are you a bear on a coupon clipping website?

When I bought my 1 bedroom condo to rent out only 4 years ago (for $350,000), people thought I was insane (and I was even told to use my common sense)......exact same unit one floor below me (literally below me), just sold for $550,000.

Oh ya, I'm also getting $2,200/month for rent :) and my mortgage is roughly $1,100.


*
Deal Fanatic
May 1, 2012
9166 posts
7614 upvotes
Markham
dontbeanactuary wrote: I will personally send you a cheque of $100 if you can show me proof that you've bought one of these units. No strings attached, nothing. People who buy this shit are going to be incredibly sorry. This has nothing to do with being a bear, it is just common sense.
Lol 100 bucks. You should keep your cash for rent. Rents been going up like mad.
Banned
Dec 5, 2018
14 posts
17 upvotes
ekcivichb wrote: Is it? If it was common sense and you know where the market will be in 2025, why the hell are you not rich since you can predict the future?

Why instead, are you a bear on a coupon clipping website?

When I bought my 1 bedroom condo to rent out only 4 years ago (for $350,000), people thought I was insane (and I was even told to use my common sense)......exact same unit one floor below me (literally below me), just sold for $550,000.

Oh ya, I'm also getting $2,200/month for rent :) and my mortgage is roughly $1,100.

*
Ok buddy. Please buy that 279 sq ft condo for $500k, and then tell me in 5 years how rich you are.

*
Sr. Member
User avatar
Nov 5, 2018
662 posts
947 upvotes
Scarborough
Personally, I am a bull and I have invested in Toronto real estate. But IMO, these prices are absurd. There are many projects in downtown Toronto that are wayyy better value. I thought YSL was expensive in the summer and even that is far cheaper than this trash. Just because people think the project is expensive and stupid does NOT mean we are bears. It is what it is--a stupid and expensive project for uninformed people who don't understand the value of a dollar.
Money, Common Stocks, Credit Cards, Coupons, Condos (MCCCC)
Deal Fanatic
May 1, 2012
9166 posts
7614 upvotes
Markham
dontbeanactuary wrote: Ok buddy. Please buy that 279 sq ft condo for $500k, and then tell me in 5 years how rich you are.

*
*

Now I am not saying these prices are justified, in fact even I think this is crazy.

But let's go back say... 6 years to 2013. The good old days when a Detached in Richmond Hill was still around 700k. How many people back then thought "LOL detached in RH for 1.6mil, are you on crack?"

Here we are in 2019, you're essentially making the same argument. Of course we don't know which way it'll go, but seeing as you are using common sense to think that RE will not go to those prices... well why didn't you use the same common sense back 5-6-7-10-15-20 years ago and buy some RE or several RE and be super rich now?

*
[OP]
Banned
Aug 3, 2005
1235 posts
1162 upvotes
dontbeanactuary wrote: Ok buddy. Please buy that 279 sq ft condo for $500k, and then tell me in 5 years how rich you are.

*
I'm good thanks...I have a detached home for the family in Oakville that I bought 8ish years ago...and a condo DT bought 4 years ago that I rent out.

No need to be greedy. Smooth sailing from here on out until retirement Smiling Face With Sunglasses

Top

Thread Information

There is currently 1 user viewing this thread. (0 members and 1 guest)