https://realestatemagazine.ca/now-is-prime-time-to-invest-in-pre-construction-properties-help-your-clients-turn-a-profit/ Canada’s premier magazine for real estate professionals. Wed, 04 Sep 2024 12:38:57 +0000 hourly 1 https://wordpress.org/?v=6.6.1 https://realestatemagazine.ca/now-is-prime-time-to-invest-in-pre-construction-properties-help-your-clients-turn-a-profit/#comment-20152 Wed, 04 Sep 2024 12:38:57 +0000 https://realestatemagazine.ca/?p=33918#comment-20152 I see absolutely no value in pre-construction at this time. In Toronto there are close to 10,000 resale condos for sale, and the vast majority are selling between $900-$1000 a sq ft while pre-construction hovers around $1500 a sq. ft. Why would anyone spend up to 60% more for a pre-construction? The other issue is 60% of all new projects are purchased by investors, and they want tiny units to rent out. And judging by the ridiculous amount of condos on the market being 500 sq ft, it’s obvious no one wants to actually own them. It’s time for builders and policy makers to get back to building units that people want to live in, and more important get rid of short term rentals, it is killing the downtown core.

]]> https://realestatemagazine.ca/now-is-prime-time-to-invest-in-pre-construction-properties-help-your-clients-turn-a-profit/#comment-20145 Wed, 28 Aug 2024 13:13:28 +0000 https://realestatemagazine.ca/?p=33918#comment-20145 My opinion, real estate has always been “the long game” (10 years). While speculators and investors have had a good run, eventually they always get caught in a correction. It would be wrong to bet on a “likely improvement in value” in the short term/by completion; 3 to 4 years is short term, not the long game. The best deals right now is in picking up an assignment at the sellers loss. You get current market value not a speculative high price down the road or lower in most cases, lower than market value as these sellers want to unload.

]]>