News about New condos in Toronto

Author: Vhl Developments

Surveying the market for new condo developments in Toronto has revealed the fact that a huge percent of pre-construction condos in Toronto and unsold ones is continuously rising. Yet the real estate market remains strong and stagnant owing to the historical value of the place. The fourth quarter in the year of 2012 saw sales of condos in a percentage of 79% in total. If we compare these figures with the former quarters (80% and 81% in 2011), we notice the slight increase in the sold condo value thus, representing the unsold ratio in lower fractions.

Sale figures of condos

There were a lot of rumours regarding the overbuilding of new condos for sale in Toronto. Media as well as the general public had gossip about these issues of overbuilding causing huge online forums and newspaper clippings to meditate over these issues. These issues however, were able to diminish the spirits of builders or not, is again a very debatable topic.

"Overbuilding was a term cited quite often in relation to the Toronto condominium market in the second half of 2012, however, a survey of developers, lenders and brokers [by the firm] in December indicated that just 11% of respondents indicated that over supply in the new condominium market was their top concern going into 2013," was the exact quote from the survey that was released in urbanation just after.

The overbuilding however did cause some stir in the minds of stock brokers, financers and builders:

  • Prices were drastically flattened down.
  • More expenditure on the financing of construction
  • Financers for constructions became hard to find
  • Investors suddenly seem to hold condo stocks mysteriously

Brief on building structures of Scarborough

New condos in Toronto were suffering the real estate heat that was thrown right across downtown. But the condo market seemed to re appear and flourish in the next quarters. Similarly, Scarborough Condominiums continue to sustain and in an overall manner grow. The statistics say that the data that was released by Scarborough annual report witnessed the residential progress of singles more than families with children. Singles were obviously much more interested in renting condos than laser detached family ventures. These condos were much easier to maintain and there was no need for extra work on the exterior as the community itself hired professional help from associations to mow the lawns, fix the roof, etc.

Vhldevelopments.com is a leading and innovative condominium construction company offering preconstruction condos Toronto for sale in Toronto. We specialized in Scarborough condos with the best architectural concepts. To find the best condo deals available according to your needs visit us or call at 416.391.4870 today. We are a real estate developer in the Toronto area building affordable luxury condominiums.