Archive: August 2013 1 articles

Condo market press

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Between the "doom and gloom" prophesies of Finance Minister Jim Flaherty and the media in general about the "over-valued" condo apartment market, the casual observer may have long ago decided that it was just a matter of time before prices would collapse amid a myriad of over-supply. The problem is that actual market results have not borne that out. For example, in the GTA for 2013 year-to-date (January thru July), condo apartment prices are actually up by 1%. So it is encouraging to finally see an article taking the opposite view. According to a report from Genworth Canada and the Conference Board of Canada, the Canadian condo market is doing fine thank you very much and, more importantly, will continue to do fine in the foreseeable future. The report cites population growth, employment growth as well as demographic factors (aging population) as all being key positive factors. Please give it a read - click here.