Young Professionals, Baby Boomers Fuelling Canada’s Condo Boom

Condo BuildingsWhen Debrah and Joel Weiss first moved to Toronto, they wanted nothing more than a proper house with a sprawling yard and lush garden.

Four decades later, the retired couple is part of the condo craze — lured by the promise of a life free of clearing snow and scooping out eavestroughs, drawn to the gleaming glass-and-steel towers and newly scrubbed factory conversions that are reshaping Canada’s urban lifestyle. Click here to view the full article.

 

The demand for condos seems destined to keep growing for many years to come, and this bodes well for the condo market long term. In the short term, though, there are a lot of condos coming on the market over the next couple of years, and a many of these are small units being purchased by investors. In the short term, therefore, we could see a “soft spot” in the condo market as a large number of listings could be dumped on the market over a short period of time. It will be amazing if the market can absorb all of this and remain strong.