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A recent Financial Post article highlights a significant shift in Canadian real estate investment trends, with many investors moving away from condominiums due to declining returns and increased costs. In major urban centers like Toronto, Vancouver, and Montreal, high mortgage rates and rising ownership expenses have eroded the profitability of condo investments. This has led to a decrease in pre-construction sales, which are essential for securing financing for new developments. According to the Canada Mortgage and Housing Corporation (CMHC), new condominium sales dropped by more than half in the first half of 2024 compared to the previous year, exacerbating the housing supply crisis.
Read the full article on: FINANCIAL POST
