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Will Ontario Face a Condo Shortage by 2027?
Will Ontario Face a Condo Shortage by 2027? 🏢📉
Ontario’s condo market is entering uncharted territory. With new condo sales hitting historic lows, many are now asking: Are we heading toward a condo shortage by 2027? Here’s what you need to know.
In 2024, Toronto saw record-low new condo sales, with only 249 units sold in November—an 81% drop from the previous year and over 90% down from the 2021 peak. 📉 If this trend continues, we could see a significant decline in condo completions in the next few years.
The slowdown is already affecting construction. 🚧 Developers are putting projects on hold, leading experts to predict a 70–80% drop in condo starts over the next 18 months. Fewer launches now may mean far fewer completed units between 2027 and 2029, creating potential supply pressure.
Today, the market doesn’t feel under-supplied. Resale inventory is stable, and rents are softening. But the lack of construction happening right now could trigger a future supply crunch once demand rebounds.
Population growth in Ontario has slowed, contributing to weaker demand. But long-term, as growth stabilizes and single-family homes remain out of reach, 🏠 condos will continue to be the most accessible housing option for many buyers.
For investors, this may be a rare opportunity. 💡 A future shortage of new units could make well-located condos highly valuable—but timing is critical to avoid ‘catching a falling knife’ 🗡️ while the market is still adjusting.
So, will Ontario face a condo shortage by 2027? 🤔 If sales and construction don’t pick up soon, it’s very possible. This scenario could benefit strategic investors but pose challenges for first-time buyers and renters.
👇 What’s your take? Will the market recover in time to avoid a shortage?
Drop your thoughts in the comments! Don’t forget to like, subscribe, and follow for more Ontario real estate insights.
Maximum Results Team — Helping You Make Your Move. 🏡✨
#OntarioRealEstate #CondoMarket #TorontoCondos #RealEstateTrends #HousingMarket #CondoShortage #RealEstateInvesting #PopulationGrowth #OntarioHousing #MarketInsights #FirstTimeBuyers #RealEstateOpportunities #TorontoRealEstate #HousingSupply #condoinvestments
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By Walter Monteiro
5
11 ratings
Will Ontario Face a Condo Shortage by 2027? 🏢📉
Ontario’s condo market is entering uncharted territory. With new condo sales hitting historic lows, many are now asking: Are we heading toward a condo shortage by 2027? Here’s what you need to know.
In 2024, Toronto saw record-low new condo sales, with only 249 units sold in November—an 81% drop from the previous year and over 90% down from the 2021 peak. 📉 If this trend continues, we could see a significant decline in condo completions in the next few years.
The slowdown is already affecting construction. 🚧 Developers are putting projects on hold, leading experts to predict a 70–80% drop in condo starts over the next 18 months. Fewer launches now may mean far fewer completed units between 2027 and 2029, creating potential supply pressure.
Today, the market doesn’t feel under-supplied. Resale inventory is stable, and rents are softening. But the lack of construction happening right now could trigger a future supply crunch once demand rebounds.
Population growth in Ontario has slowed, contributing to weaker demand. But long-term, as growth stabilizes and single-family homes remain out of reach, 🏠 condos will continue to be the most accessible housing option for many buyers.
For investors, this may be a rare opportunity. 💡 A future shortage of new units could make well-located condos highly valuable—but timing is critical to avoid ‘catching a falling knife’ 🗡️ while the market is still adjusting.
So, will Ontario face a condo shortage by 2027? 🤔 If sales and construction don’t pick up soon, it’s very possible. This scenario could benefit strategic investors but pose challenges for first-time buyers and renters.
👇 What’s your take? Will the market recover in time to avoid a shortage?
Drop your thoughts in the comments! Don’t forget to like, subscribe, and follow for more Ontario real estate insights.
Maximum Results Team — Helping You Make Your Move. 🏡✨
#OntarioRealEstate #CondoMarket #TorontoCondos #RealEstateTrends #HousingMarket #CondoShortage #RealEstateInvesting #PopulationGrowth #OntarioHousing #MarketInsights #FirstTimeBuyers #RealEstateOpportunities #TorontoRealEstate #HousingSupply #condoinvestments