The following is a guest post by Brian Persaud, a Toronto based real estate agent, investor, analyst, TV show host, producer and author of the book “Investing in Condominiums: Strategies, Tips and Expert Advice for the Canadian Real Estate Investor“. He studies Toronto condos extensively and is a good friend to the folks at BuzzBuzzHome. You can follow him on Facebook, Twitter or subscribe to his newsletter. And now here’s Brian!
Now that the record setting 2011 is over it’s time to reflect as we head into 2012.
Here’s a quick recap of the RealNet numbers in comparison to last year’s:
Three possible reasons :
1) Lots of competition between developers (as of November 2011 there were 391 active sites)
2) 905 high rise share is at a record high (prices of condos in the 905 will be lower)
3) Because the unit sizes are smaller on average, the end price may have followed suit
2011 numbers were way above the norm, and I would worry if the sales pace continued into 2012. The market needs a breather for investors to achieve their yields.
So which developers have done the best in 2011? Well here’s the list:
1. Tridel (1,664 units)
2. Pure Plaza (1,494 units)
3. Onni Group of Companies (1,217 units)
4. Lifetime Developments (1,179 units)
5. Daniels (1,140 units)
6. Liberty Developments (1,090 units)
7. CentreCourt (881 units)
8. Concord Adex (871 units)
9. Monarch (847 units)
10. Great Gulf Homes (797 units)
All in all, 2012 is shaping up to be the year of “Location, Location, Location” because of upcoming condo projects in 2012. There will definitely be some exciting sites that are tall and have a lot of units.
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