Has the expanded rent controls had any impact on the sale or value of condo units in the downtown?

Category: Condos

 

Hi David, 

Has the expanded rent controls had any impact on the sale or value of condo units in the downtown?


 

Hi Marshall,

 

So far, there’s no definitive evidence that investors have backed away from purchasing condominiums.

I haven’t seen any decline in price, and if there were, I don’t know that we can trace it back to investors, as opposed to end users.

I’ve sold two condos to investors since the announcement, both of whom I was working with before the announcement.

There’s a sort of “natural turnover” in Toronto, since most tenants in smaller, 1-bed, 1-bath condos tend to move on every 12, 18, or 24 months.  Life changes, people move, get new jobs, move in with partners, etc.

The fear of a tenant staying for 20 years and the landlord not being able to raise the rents isn’t warranted – at least not in Toronto.

 

David.

3 Comments

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  1. Joshv says:

    Can you please elaborate on your comment “The fear of a tenant staying for 20 years and the landlord not being able to raise the rents isn’t warranted – at least not in Toronto.”?

    Thanks!

  2. H. Marshall says:

    Thank you for the reply. It looks like next to nothing is making a dent in Toronto’s condo market. Some of the price increases in less than a year are astonishing. Are those fair statements?

  3. Rachelle says:

    Truth be told investors buy Toronto condos for rent income, they do it for capital appreciation

TWEETS