I have received many calls recently from existing clients and referral clients asking me how to invest in the Toronto new condominium market and if an investment can be made under a partnership agreement with a Family member, Friend or Colleague. (My Team Lawyer has prepared such an agreement for my Clients)
Some of my clients who are parents are worried about the price of housing stock when their children finish university. It may be far down the road for some parents but the reality is certain. The average price of a Toronto condominium today is $466,000. Can you imagine 10 years from now?
Many of my clients have a strong equity position in their home so the thought of building their wealth through Toronto real estate is top of their mind.
Some of my clients have Family, Friends and Colleagues who would like to invest with them as partners.
As the affordability of freehold properties is becoming out of reach to many buyers and investors alike, the Toronto new and resale condominium market is becoming the home type of choice. In the last six months I have seen an extreme tightening in this housing sector in resale transactions, rental transactions and new construction sales. The condo rental vacancy rate in Toronto is hovering around 1.8%.
There are many pricing stages of a new condo launch. At each stage of the sales process there is typically a price increase. I have seen price increases up to 25%. A typical condo launch will have SIX stages of pricing. So if you are thinking you are getting a sweet deal on the best layouts by walking into the sales office, you are wrong. Once the sale office opens it is at the end of the pricing cycle.
I have relationships with high volume Platinum Brokers in the City who have the best relationships with condo developers. Buying at the platinum pricing level is like buying wholesale. We all like wholesale pricing!
To learn more about opportunities in the Toronto new condominium market please give me a call (4165206746), email me (David@DavidStoddard.ca) or text me (4165206746). We can meet for a coffee.
If you would like to speak with existing clients who have ventured into this area of investing I can certainly provide their contact information.
There are many terrific projects scheduled for release in the coming weeks and months.
Oh, by the way……if you know of someone who would appreciate the level of service I provide, please call me, text me or email me with their name and number. I’ll be happy to follow up and take great care of them.