What They Don't Tell You About Toronto's Pre-Construction Market | Toronto Real Estate Podcast

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Welcome to the Toronto Real Estate Podcast! In this episode, Fox Marin Associates bring on a special guest, Harley Nakelsky - President and Partner at Baker Real Estate. Join us as we dive deep into Toronto's pre-construction market, discussing current challenges such as high interest rates and extended construction timelines. We'll also explore the benefits of investing in pre-construction properties and provide insights into investor sentiment and key market trends. Don't miss out on this in-depth discussion on the opportunities and challenges in Toronto's booming pre-construction market.
Join us as we explore:
- Current challenges: high interest rates, increased development charges, extended construction timelines.
- Benefits of pre-construction: lower deposits, potential long-term appreciation.
- Investor sentiment: hesitations and long-term opportunities.
- Market trends: resale vs. pre-construction prices.
- Government policies: impact and developer strategies.
Timestamps:
0:00 - Intro
2:40 - About Baker real estate
3:45 - Pre-constructions vs resale
5:40 - How would you think about potential investors?
9:05 - Who's buying preconstruction properties?
1224 - Changes in pre-construction market
14:38 - Does resale lead in comparison to pre-construction?
17:05 - Pipeline of future condos
18:53 - Status of condos launches in downtown Toronto
21:05 - What's the developer mindset?
23:35 - Are good locations really winning in pre-constructions?
27:59 - Thoughts from investors while investing in pre-construction
30:17 - How govt. policies related to purpose build affect condo supply?
33:33 - Pricing models for condos in this competitive market
36:23 - Ways for agents to sell more
39:45 - Govt. programs for home-buyers
48:26 - How govt. Interventions affecting the real estate market?
55:25 - Why do end users not embrace pre-construction?
59:00 - Three immediate policy changes that Harley would like to make
1:02:38 - What a one-bedroom will cost in downtown Toronto in 2030?
1:02:47 - Outro
Stay updated with the latest Toronto real estate news and dive deep into the housing market with the Toronto real estate podcast. Understand the condo market in Toronto and how real estate inflation impacts it. Join us to explore the dynamics of Fox Marin Toronto Real Estate and gain expert perspectives on the Toronto condos and Canada's real estate landscape.
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#preconstructioncondos #realestate

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Опубликовано:

28 июн 2024

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Комментарии : 9

@LUBABELEY 6 дней назад

Great insights about current pre-construction market!

@FoxMarinAssociatesToronto 6 дней назад

Thank you, Luba - we always appreciate your support and feedback! Have a great weekend!

@CristianEnacheRealtor 5 дней назад

Home buyers hold all the leverage now. If you decline a reasonable offer, you will likely have to accept a lower price after waiting another two months. This shift signifies the return of a buyer's market, unequivocally. The traditional measure of months of inventory versus sales, typically indicating a buyer's market at over 4%, is outdated for today's real estate market in GTA Ontario and its surroundings. This classification system of seller's, balanced, and buyer's market needs an urgent update. I have clients and doing daily business in over 30 cities in Ontario. I know very well what I am saying.

@FoxMarinAssociatesToronto 9 часов назад

Wow - that is a huge amount of geography you cover! We definitely focus on downtown and central Toronto on this end which still seems gigantic!

@CristianEnacheRealtor 6 часов назад

@@FoxMarinAssociatesToronto Thanks. The more you know, the better you can help people moving around. Mouth to mouth referral locally based is not ok. This type of local business involves more stress. My way of business is way more relaxed, as clients are calling you, you are not trying to create leads more, as all the local Realtors or Team leaders for their agents to get 50% of their commisssion which is putting pressure on all the agents in local teams. Plus, I get 25% referrals from many agents who are not covering let's say Muskoka, Kitchener, Kawartha Lakes, London, Niagara. 75% plus a new client is always better than nothing.

@johnsc17 4 дня назад

A friend of mine bought a home in 2019 and placed a downpayment of 100k. Once the pandemic faded away, the construction company continued its work but built the interior completely different to what was displayed in the show room. Once the home met minimum standards, they said it was liveable snd forced him to live in an incomplete home. Now they pay 4k a month to the construction company... Not towards their mortgage.

@FoxMarinAssociatesToronto 9 часов назад

This sounds like a terrible experience for your friend! There are some excellent warranty programs that I hope have helped.