Toronto condos have been incredibly resilient in recent years. . It’s likely that 2022 will see the return to previous pre-pandemic highs and beyond. We believe that 2022 will mark the return of the temporary condo market setback. We have many condo investors returning to the marketplace looking to take advantage of incredibly low mortgage interest rates. We also expect that would-be home buyers will return to the condo purchase option having been priced out of what have been massive price gains in the Toronto (and surrounding suburbs) freehold home marketplace.
It’s not uncommon to hear naysayers speak of a “bubble” or another common quip is that there are too many condos in Toronto. This is a cognitive bias that dates back to a time in Toronto when condos were exceptionally rare. That day has come and gone. Families are now being raised in condos; it’s no longer a retiree preference.
We have written a great deal about the need for Toronto to add more condo units to the market with the growing population. Toronto is far behind the demand for living space – both owners and renters alike. The growing segment is certainly renters as the cost to acquire a home or condo is far and above the average person’s salary in Toronto.
Condo Investment Predictions in 2022
We expect condo investments in 2022 to perform at a similar rate or better than we saw in the last number of years. We are seeing a spike in condo sales to kick-off 2022.
We work with many condo investors. It’s a passion of ours. We strongly believe in serving each and every buyer’s specific needs. We help you get the best possible option for your money. We balance your needs, goals, and what the market has to offer in terms of price, investor upside, options that are overlooked by other agents and neighbourhoods that are ready to track upwards at a rate far exceeding adjacent areas.
➤ For more information on condo investing check out:
- Our Toronto Condo Investment Guide
- 4 Condo Investment Mistakes (To Avoid)
- Condo Purchase Checklist
- Our Guide To Toronto Investment Properties
