The sale of $36 million worth of pre-construction condos in Quebec over a two-day period at the height of the COVID pandemic sounds impressive. But perhaps equally notable is the fact that all the transactions took place virtually.
Look up. Condo sales are on the rise. Condo construction is constant, especially in population-dense communities like Toronto and Vancouver. There’s more to condo appeal than cost. Condos are convenient; they require less work. Some attentive developers and building managers are using technology to help make condo living more enjoyable.
Toronto’s condo market is still extremely strong, despite the fact a number of projects in the city have recently been cancelled, says Sam Mizrahi, developer of what will be Canada’s second-tallest building.
I’ve been asked about everything from strange smells in the area to corrupt property managers, but I’ve never been asked “can a condo burn down?” I thought it might be interesting to explore that question.
Effective Jan. 1, 2018, warranties previously offered only on newly constructed buildings now apply to residential condominium conversion projects (RCCPs) - for example warehouses or other types of industrial structures.
REM (Real Estate Magazine) is Canada’s premier monthly magazine for real estate professionals. REALTORS®, real estate agents, sales representatives, brokers, owners, administrators, and other real estate industry stakeholders read REM every month for news, analysis, and commentary on Canadian real estate.
REM is independently owned and operated, and is not affiliated with any real estate association or board.