cdr108
Senior Member
Shaun Hildebrand, president of Urbanation:
Expect a double-digit condo price drop by 2021
www.bnnbloomberg.ca
There's already a divergence with products and prices.
When tracking similar units in buildings, downtown Toronto condo values have lost at least 10+% and condo listings have surge 215% than a year earlier.
www.bnnbloomberg.ca
rents have dropped 15-30% from 2019 (to 2016-17 levels) with rentals supply much greater than demand on the market.
Freehold properties prices have gone up 10+%, rents have been stable.
Expect a double-digit condo price drop by 2021
![www.bnnbloomberg.ca](https://images2.9c9media.com/image_asset/2020_10_6_2546b33f-23ac-46fd-aa6a-dd1bd0efecc5_jpg_980x551.jpg)
Expect a double-digit condo price drop by 2021: Urbanation president
Shaun Hildebrand, president of Urbanation joins BNN Bloomberg to discuss the trends in Toronto real estate as volume sets a record while the downtown Toronto condo market sputters amid soaring supply and cratering demand.
There's already a divergence with products and prices.
When tracking similar units in buildings, downtown Toronto condo values have lost at least 10+% and condo listings have surge 215% than a year earlier.
![www.bnnbloomberg.ca](http://www.bnnbloomberg.ca/polopoly_fs/1.1455962!/fileimage/httpImage/image.jpg_gen/derivatives/landscape_620/the-cn-tower-stands-among-buildings-in-the-downtown-skyline-in-this-aerial-photograph-taken-above-toronto-ontario-canada-on-monday-oct-2-2017.jpg)
Condo listings surge 215% in signal of downtown Toronto weakness - BNN Bloomberg
Toronto’s flourishing housing market is beginning to show signs of strain, particularly in a condo segment suddenly flooded with new listings.
Freehold properties prices have gone up 10+%, rents have been stable.