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Crewson
Guest
Does anyone know how much the property value of a new Condo will increase once it is built?
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rbtaylor
Guest
Who knows? There is good chance it could decrease in value (along with the rest of the city) by the time it is complete or if quality was poor.
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spmarshall
Guest
I got my MPAC assessment for 2007. My condo, according to them is worth $30,000. That's a huge drop in value since I bought it :b
Though at least my property taxes will be incredibly low in 2007.
Though at least my property taxes will be incredibly low in 2007.
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Abeja de Almirante
Guest
Pure supply and demand. Condos are being thrown up all over the city because demand is high, but usually supply continues to expand well past that of demand, until the price of the remaining over supply drops.
I would never buy a condo as an investment, as there's going to be a crash in that market, much like the single detached houses in the 'burbs. No, if I were looking for residential property to investment in, I'd buy a rooming house in Cabbagetown, evict the rabble and restore it to its full potential, and sell it at a profit to yuppies and nimby'ites.
I would never buy a condo as an investment, as there's going to be a crash in that market, much like the single detached houses in the 'burbs. No, if I were looking for residential property to investment in, I'd buy a rooming house in Cabbagetown, evict the rabble and restore it to its full potential, and sell it at a profit to yuppies and nimby'ites.
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Observer Walt
Guest
Who says single detached houses in the burbs are going to crash? No sign of that happening so far. This is where your supply and demand will really kick in over the next few years. The supply of new developable land in many burbs is restricted because of the Greenbelt initiative, and fast-growing cities like Brampton are putting the brakes on new building permits because they can't provide infrastructure fast enough. You are not likely to see any crash in this market; the reverse is more likely.
As for a condo oversupply, this idea has been around for years. Again, it hasnt happened so far. New condo projects don't begin construction until they are at least 60% sold. This means real sales, with signed and enforceable Agreements and with substantial deposits in the bank. Demand may slow somewhat, but supply would adjust pretty quickly, in that those which haven't started construction can be cancelled, and new projects simply won't come to market. I won't be surprised to see some slowing of new construction, at some point, but that is certainly not the same as an oversupply.
Also, in some parts of the city, especially midtown, there is an increasing shortage of possible sites for new condos. This will be another factor limiting supply, in those particular neighbourhoods.
As for a condo oversupply, this idea has been around for years. Again, it hasnt happened so far. New condo projects don't begin construction until they are at least 60% sold. This means real sales, with signed and enforceable Agreements and with substantial deposits in the bank. Demand may slow somewhat, but supply would adjust pretty quickly, in that those which haven't started construction can be cancelled, and new projects simply won't come to market. I won't be surprised to see some slowing of new construction, at some point, but that is certainly not the same as an oversupply.
Also, in some parts of the city, especially midtown, there is an increasing shortage of possible sites for new condos. This will be another factor limiting supply, in those particular neighbourhoods.
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Abeja de Almirante
Guest
You heard it here first folks, the condo market is crash proof, supply won't exceed demand, and your investment is safe.As for a condo oversupply, this idea has been around for years. Again, it hasnt happened so far. New condo projects don't begin construction until they are at least 60% sold. This means real sales, with signed and enforceable Agreements and with substantial deposits in the bank. Demand may slow somewhat, but supply would adjust pretty quickly, in that those which haven't started construction can be cancelled, and new projects simply won't come to market. I won't be surprised to see some slowing of new construction, at some point, but that is certainly not the same as an oversupply.
C
cdl42
Guest
"I'd buy a rooming house in Cabbagetown, evict the rabble and restore it to its full potential"
There's still some of these left? Methinks you're 25 years too late... try Parkdale instead.
There's still some of these left? Methinks you're 25 years too late... try Parkdale instead.
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Abeja de Almirante
Guest
There's three on Sackville Street that my sources tell me might come up on the market once the old fellow owning them expires."I'd buy a rooming house in Cabbagetown, evict the rabble and restore it to its full potential"
There's still some of these left? Methinks you're 25 years too late... try Parkdale instead.
B
building babel
Guest
>Re: Will the propoerty value increase once complete?
There are 3 houses on Langley Avenue in Riverdale that will, one assumes, come on the market soon. The reclusive owner, who lived in one, died a couple of months ago. They need tons of fixing up though. One ( a large semi ) was unoccupied for at least 15 years, and the very large house at Broadview has been vacant for about half that time. A well-heeled investor could probably make a go of it.
There are 3 houses on Langley Avenue in Riverdale that will, one assumes, come on the market soon. The reclusive owner, who lived in one, died a couple of months ago. They need tons of fixing up though. One ( a large semi ) was unoccupied for at least 15 years, and the very large house at Broadview has been vacant for about half that time. A well-heeled investor could probably make a go of it.
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building babel
Guest
Re: >Re: Will the propoerty value increase once complete?
... and there's a story about them on the front page of today's Globe and Mail.
... and there's a story about them on the front page of today's Globe and Mail.
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Darkstar416
Guest
Re: >Re: Will the propoerty value increase once complete?
I saw that today Babel and thought of you!
I saw that today Babel and thought of you!
B
building babel
Guest
>Re: Will the property value increase once complete?
The Blue Rodeo Guy lives just a few doors from that place. About a dozen years ago someone further down that street, renting a basement, found a live hand grenade.
I'm in the process of ripping up all the carpet in my upstairs bedrooms. There's an ancient hardwood floor underneath - I can see why it was carpeted over. And mysterious stains on the floors. If the walls of some of these old Riverdale houses could talk, what tales they might tell ...
The Blue Rodeo Guy lives just a few doors from that place. About a dozen years ago someone further down that street, renting a basement, found a live hand grenade.
I'm in the process of ripping up all the carpet in my upstairs bedrooms. There's an ancient hardwood floor underneath - I can see why it was carpeted over. And mysterious stains on the floors. If the walls of some of these old Riverdale houses could talk, what tales they might tell ...
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scarberiankhatru
Guest
"I need new carpets..."
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building babel
Guest
I'm thinking sisal. Butch looking, and practical.
I was upstairs, down on my hands and knees and toiling away, for most of last weekend.
I was upstairs, down on my hands and knees and toiling away, for most of last weekend.
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andreapalladio
Guest
Some overnight guests object to sisal underfoot. Though to my thinking, such delicate flowers don't deserve a second invitation.