A lack of international students and travellers, as well as the evaporation of hundreds of thousands of retail and service industry jobs, left many downtown condos vacant.
In Canada’s busiest real estate markets, condos still cost a fraction of what buyers are paying for other properties.
“A well-priced, well-located condo will definitely have multiple offers,” Forbes says.
Montreal’s Angela Langtry, who sells for Century 21 Immo-Plus, says only certain areas of the city are home to competitive condo markets.
One of the necessary evils of condo ownership is paying what can be considerable maintenance fees.
You might pay $6,000 in maintenance fees at your new condo, but you won’t need to organize snow removal, replace half your shingles after a particularly brutal storm or worry about your basement leaking.
Because many stacked townhouse developments don’t have the amenities of most modern condo towers, their maintenance costs are much lower.
We have enabled email notifications—you will now receive an email if you receive a reply to your comment, there is an update to a comment thread you follow or if a user you follow comments.