Toronto Investment Property: September Review & Outlook
Toronto REAL ESTATE: SEPTEMBER 2020
We saw more freehold inventory than sales, so we’re leaning closer to a balanced market for detached and semi-detached houses. Condos are in a prolonged buyers market flooded with supply so it’s trickier to be a seller right now.
It's Time To Buy!
- Buyer sentiments are starting to cool off again as we enter the second wave of COVID. As sales data showed, the start of COVID in April turned out to be the best opportunity for buyers with 5-10% discounts in prices. This second wave will slow real estate momentum again, so this is another small window of opportunity for freehold deals.
- Banks are offering record low mortgage rates plus additional cash back options and this makes financing extremely attractive. We’d be happy to connect you to our mortgage contacts for more details.
- Finally, rents have stabilized since the adjustment in early COVID. If you combine further discounted prices with unchanged rents, you’re effectively getting better total returns right now.