Weaker condo market is starting to attract investors

Weaker condo market is starting to attract investors. We are seeing an increase in activity in the somewhat pandemic battered condo market. Investors are starting to look for deals as cash strapped condo investors/owners are struggling to rent their condos. Many investors have opted to sell. Now we see a definite oversupply of condos on the market. TRREB reported “The number of new condominium apartment listings in Q3 2020 amounted to 17,613 – an 84.6 per cent increase over Q3 2019”. Ultimately, we think this should correct as the pandemic passes and we see more immigration start to come in. However, it may take time and not everyone has time.

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