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Time and Space Condos 
177 Front St E, Toronto
Developer: Pemberton Group


Time and Space Condos | 102m | 29s | Pemberton | Wallman Architects

UD2

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The office isn't officially open but apparently all available units have been spoken for by brokers, even before OMB decision. Interesting how they can secure funding, sell units and yet no involvement from the general public. This funny money, according to TREB, has no impact on Toronto's real estate market.
What part of this money is funny?
 

jsjaker

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The office isn't officially open but apparently all available units have been spoken for by brokers, even before OMB decision. Interesting how they can secure funding, sell units and yet no involvement from the general public. This funny money, according to TREB, has no impact on Toronto's real estate market.
Overseas sales hit the market once again!
 

TheKingEast

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And the Realtors say that only 5% of sales are from foreign purchasers.
But why do you assume it's all foreign buyers? There are plenty of Canadian citizens buying up condos before launch. I've done it before along with many friends. As long as there are no actual data people are going to run with whatever narrative is convenient.

Most condos are sold before they hit the market.
 

slicecom

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But why do you assume it's all foreign buyers? There are plenty of Canadian citizens buying up condos before launch. I've done it before along with many friends. As long as there are no actual data people are going to run with whatever narrative is convenient.

Most condos are sold before they hit the market.
Exactly, I know numerous people who own and rent out multiple condo units in Toronto. They all live in the GTA.
 

TheKingEast

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Exactly, I know numerous people who own and rent out multiple condo units in Toronto. They all live in the GTA.
I know several Canadian citizens that own 5+ condos. If you bought 10 years ago you're able to leverage the gains into buying more property. A lot of people are cashing out on property they bought 10 years ago and putting that money to more condos. Is there foreign investment? Sure. But a lot of he investors are from here.
 

Benito

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But why do you assume it's all foreign buyers? There are plenty of Canadian citizens buying up condos before launch. I've done it before along with many friends. As long as there are no actual data people are going to run with whatever narrative is convenient.

Most condos are sold before they hit the market.
I certainly didn't mean to imply that only foreign buyers are purchasing condos. I too know many Canadians who are investors as well purchasing units. I do think that foreign buyers comprise a greater proportion of purchasers than the 5% that the Real Estate Board is saying, especially in major downtown condo developments. I could be wrong but that is my sense.
 

Edward Skira

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The office isn't officially open but apparently all available units have been spoken for by brokers, even before OMB decision. Interesting how they can secure funding, sell units and yet no involvement from the general public. This funny money, according to TREB, has no impact on Toronto's real estate market.
Secure funding? Pemberton has a lot of money to do what they do.
 

maestro

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The family are billionaires. That doesn't mean they put their wealth on the line for Pemberton. Afterall, They are still Marel drywallers at heart.
 

Torontovibe

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And the Realtors say that only 5% of sales are from foreign purchasers.
I know people who work in real estate and they all tell me that figure is not true and everybody knows it . It's obviously much much higher! I've even heard people speculate that over 50% of the new condo market is foreign buyers.
 

TheKingEast

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I know people who work in real estate and they all tell me that figure is not true and everybody knows it . It's obviously much much higher! I've even heard people speculate that over 50% of the new condo market is foreign buyers.
I don't believe the 5% either, but we need to see some actual data.