A recent CMHC survey reveals 17% of Condos in Toronto and Vancouver are investor owned.
This survey stated 58% on these investors plan on keeping their Condos more than 5 years with 18% planning on holding these units 2-5 years and 7.6% plan on keeping their Condos less than two years.
CMHC also found that 12% of Condo investors planned on reselling their unit for profit within 1 year of purchase.
Over 42% of Condo investors had no mortgage on their last purchased Condominium.
The survey also found that 82.9% of Toronto and Vancouver Condo buyers were homeowners.
Iris Li, RE/Max Condos Toronto Realtor, specializes in Toronto Harbourfront Condos For Sale/Rent, both new and resale.
Let us help you find that new luxury Toronto Condominium, or Toronto dream Home.
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