For the last couple months, we’ve been thinking about the wealth of data that exists on our site, trying to decide what our first infographic could and should be about. The Toronto condo market is often mentioned in the media as being one that is overpriced and oversupplied. At Condos.ca, we don’t see this in the resale market, but when you examine some pre-construction and new luxury condo buildings, there’s no denying that it’s true.
From an oversupply of units priced at $1 million or more, to the fact that luxury condo units often depreciate even while their neighbourhood values go up, we want to shed some light on what’s really happening in Toronto’s luxury condo market. Some of the stats may surprise you. For example, our research uncovered the fact that over 70% of the residential units at Trump Hotel remain unsold and held by the developer. Plus, we’ve even included a few predictions for some of the most well known new luxury condo buildings in the city.
Take a look.
Luxury Condo Blunders Infographic by Condos.ca
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