🚨New Project: Q-Condos + Launch Party Invitation

• Location: Queens Quay W & Lower Simcoe St

• Starting at $1,700 per sq ft

• Airbnb average nightly rate: $250

• Rental rates at $4.5 per sq ft

🎉 Sign up for the launch party here! 🎉

💡Changes proposed to the Vacant Home Tax (VHT) 

• As of August 1, 2023, 17,437 properties were classified as vacant.

• The definition of “Tenant” will be expanded to include business tenants.

• The tax rate proposed to increase from 1% to 3% for the 2024 Taxation Year.

🏘 TRREB estimates the GTA is a decade behind housing construction

• Despite a 7.1% decline in Toronto home sales, home prices in the area remain high

• Lack of construction will be the biggest challenge to Toronto’s housing market in the coming years.

• Economist from RBC, states overall affordability is unlikely to improve significantly in Ontario. 

• A rate cut by the Bank of Canada will drive housing activity and further drive up home prices. EST Mid 2024.

🤔 Canadian construction industry lost 45,000 jobs in July

• The federal government has prioritized the immigration of skilled trades workers. 

• The most significant decreases were observed in British Columbia, Quebec, and Ontario, with declines of 8.9%, 3.5%, and 1.4% respectively.

• Construction project timelines have been expanding, with an average duration of 25 months

• This poses concerns about its impact on the existing housing shortages.

Our thoughts​
This presents an opportunity to acquire a well-constructed building at a more affordable rate before market demand leads to price hikes. 
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Take in to account the influences of increased immigration, rising construction expenses, and labor shortages. Timing is important for your investment choices.