Toronto Investment Property: October Review & Outlook
Once again, the sales data in October shows that Toronto is a very resilient market with real estate hits record sales levels this month.
All time low interest rates is pushing demand up while Wave 2 of COVID-19 is tapering some of that demand in recent weeks. We’re now in a very favourable market as investment-savvy buyers continue to take advantage of current conditions to add properties with attractive rent yields to their portfolio.
The story of diverging condo and freehold markets remain: condos continue to be flooded with supply and demand is diminishing from both condo renters and buyers.
What’s Ahead? We expect continued strength in Toronto freeholds as buyers take advantage of low mortgage rates and sweep up deals on the market. Toronto condos will see continued weakness until a sustained COVID recovery.