03-29-2025, 02:27 PM
(03-29-2025, 01:14 AM)Square Wrote: Probably the last* IN8 Development for awhile. (*Downtown Kitchener Condos)
What makes you say that? Because sales have been so slow for condos lately? I believe they have both 88 queen and 24 charles in the books for the future. Both towers are 40+ storeys, I could see them trying to gauge the market on one of the towers.
Developers have kind of painted themselves into a corner with condos' in Ontario/ Canada. The prices raised so quickly in the 2010's that investor expected that party to continue, but there is not much room for growth when Developers charge 500-600+k for a small one bedroom. Its also next to impossible for small investors justify the purchase, as they can't rent it out at break even with the current cost of carrying a mortgage. Then you have people that might actually want to buy to live in, they are see how difficult it is to sell existing stock, so why take a risk on a new build. I think we are headed to a lost decade of condo construction. I can see purpose built rental construction to continue at its current pace though.