Tag Archives: Condo Market

Toronto Condos Slump

January 4, 2013

3 Comments

The army of cranes redefining the Toronto skyline.

Toronto reportedly counts the most high-rise real estate projects under construction in North America!

Toronto Condo Construction | Photo Source: John Zeus

Toronto Condo Construction | Photo Source: John Zeus

High rental vacancies…

“We believe that buyers in the current condo market exude hope over experience…” (Despite claims of a buoyant rental market investors are ending up with) “an astonishingly low return on invested capital.” – Source: Ohad Lederer, an analyst at Veritas Investment Research.

…and a growing number of preservationists who say too many new towers are destroying the city’s character.

Social Media: “Dear Condo Toronto, you were an awesome city before you turned into a condo developer’s dream. I used to love going downtown because you had a welcoming core with parks, community spaces and many innovative small businesses. Now downtown is becoming a high-rise construction haven littered with towering steel and glass walled shoeboxes hiding our lake and our sky. Unfortunately a daily commuter’s nightmare…” – 2013 John Zeus

Facebook post: screen capture

Facebook post: screen capture

Toronto Condo Construction | Photo Source: John Zeus

Toronto Condo Construction | Photo Source: John Zeus

“Toronto condo developers face formidable obstacles: an infrastructure buckling under soaring density rates, the laws of supply and demand and preservationists who says too many new towers are destroying the city’s character.” – Source: The Financial Post

Toronto Condo Construction | Photo Source: John Zeus

Toronto Condo Construction | Photo Source: John Zeus

Toronto Condo Construction | Photo Source: John Zeus

Toronto Condo Construction | Photo Source: John Zeus

“Since June 2011 the number of unsold high-rise units in the pre-construction stage has doubled. Unsold units under construction have also increased from fewer than 5,000 at the beginning of 2012 to almost 7,000.” – Source: Bank of Canada

Toronto Condo Construction | Photo Source: John Zeus

Toronto Condo Construction | Photo Source: John Zeus

Adapted by John Zeus. Original Sources Include; Bank of Canada and The Financial Post.

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