The market for Toronto’s condominums has been as close to a sure thing, investment-wise, as things get in this economy. That’s why the market has been so attractive to investors both in Canada and abroad. But while this year has started off with a boom, according to the Globe and Mail:
Comparing March, 2012, to March, 2011, in Toronto, work started on about 29 per cent more condos this year. “The general feeling this year is that we’re on pace for another record-breaking year,” Mr. Savel said.
The warning signs are also starting to mount, according to the Toronto Star:
But the Toronto condo boom that has made Ontario the leading region for housing starts across all of Canada is now showing signs of softening demand, says Shaun Hildebrand, senior market analyst for the Toronto region.
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