Presale Condo Market in Toronto and the July 2012 Mortgage Rule Changes

The Federal Government recently tightened the rules for mortgages in Canada and Jim Flaherty specifically mentioned that the Toronto condo market and the presale market in Toronto as the main reason for the mortgage changes. As a Vancouver Realtor, I know the Vancouver real estate market inside and out. Toronto, not so much, so I called in and expert!

I recently had the pleasure of discussing presale condos (a favourite topic of mine) with a top Toronto Realtor and the July 2012 Mortgage Rule Changes. Have a look!

The following is a guest blog post written by Andrew la Fleur, a Realtor in Downtown Toronto with Remax Condos Plus. Andrew focuses his efforts on the pre-sale (pre-construction) condo market of Toronto. Check out his blog at truecondos.com or follow him on twitter @andrewlafleur.

The pre-construction condo market in Toronto so far in 2012:

2011 was an all time high year for the condo market in Continue reading →