There have been concerns that there are too many condominium buildings going up in the Greater Toronto Area (GTA), which potentially could lead to a collapse in condo prices.<\/p>\n
This risk seemed to be confirmed by a 699-unit increase in vacant condo units to 1,644 units in the GTA in January, the highest level of vacant condo units in the region since April 1993.<\/p>\n
However, this rise is not alarming because the supply of new condo units is declining, says St\u00e9fane Marion, chief economist and strategist with National Bank of Canada<\/em> in Montreal. In January, there were 48,000 units that were vacant or under construction, down from 55,331 units in December 2014 and also down from the previous high of 58,030 units in February 2014.<\/p>\n What happened in January was that an unusually high 10,218 condo units were completed in the GTA. As 92% of these units were sold or rented, this pulled down the number of units that will be available in the future.<\/p>\n In contrast, the remaining 8% of completed but vacant units resulted in a large monthly increase in vacant units.<\/p>\n \u00a9 2015 Investment Executive. All rights reserved.<\/p>\n","protected":false},"excerpt":{"rendered":" There have been concerns that there are too many condominium buildings going up in the Greater Toronto Area (GTA), which potentially could lead to a collapse in condo prices. This risk seemed to be confirmed by a 699-unit increase in vacant condo units to 1,644 units in the GTA in January, the highest level of […]<\/p>\n","protected":false},"author":38954,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[3013,3029],"tags":[2637],"yst_prominent_words":[],"acf":[],"_links":{"self":[{"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/posts\/323336"}],"collection":[{"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/users\/38954"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/comments?post=323336"}],"version-history":[{"count":1,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/posts\/323336\/revisions"}],"predecessor-version":[{"id":361211,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/posts\/323336\/revisions\/361211"}],"wp:attachment":[{"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/media?parent=323336"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/categories?post=323336"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/tags?post=323336"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/yst_prominent_words?post=323336"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}