Too many condos? Not necessarily, Says RBC

Condominiums

Canadian condominium construction is strong, but not necessarily excessive, since new units are filling a gap by creating much needed rental stock, says a report by the Royal Bank of Canada.

“Concerns have been raised about the growing number of investors fuelling the growth in condo sales in recent years,” said Robert Hogue, a senior economist with RBC in a report Thursday. “We believe that this phenomenon must be looked at in the context of relatively tight rental market conditions in large Canadian cities, from which investors aim to benefit.” Read More

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