Condo sales double in the GTHA as investors buy at 40% discounts
“For us, the really interesting thing has been how the enforcement side of things is growing — with the way the market’s been, there’s a real need for that,” he noted.
Stéfane Marion, chief economist at National Bank of Canada, says Ottawa should allow foreign buyers to purchase new-build homes, pointing to unsold condo inventory and the government’s goal of making Canada more attractive to investors. https://t.co/hUVWtFthRu
— Canadian Mortgage Professional Magazine (@CMPmagazine) October 20, 2026
A thinning pipeline
Construction starts totalled 381 units in Q3. Year-to-date starts are 82% below the 10-year average. Units under construction fell 38% to 35,920, the lowest level since early 2012, and scheduled completions drop to 4,213 units in 2029.
Shaun Hildebrand, president of Urbanation, warned that “with the pre-construction market remaining dormant and construction starts at historic lows, the supply pipeline is drying up, setting the market up for a significant shortage by the end of the decade.”
Eisner has made the same argument by warning that, “As no new condos are being built, that spells almost certain disaster for condo pricing.”
Once today’s inventory is absorbed, he said, buyers could face sharply higher prices.
