Hot Market?

So I've been visiting downtown quite often recently and I noticed many of the newly built condos right off the Spadina exit on the gardener. It's hard to see if many of the units are vacant during the day time, however at night time, its clearly visible. Many units are vacant, and after having a few discussions with my colleagues, most of them aren't selling. This may be due to the fact, that there is an oversupply of condominiums without a strong demand for them. Now my question is, if the builders do not end up filling up the vacant units, what do they do with them? Is it possible for the condominium corporation to turn the units into a rent style apartment? I've always heard of the rumor that for every house that is built in the GTA, 3 condominiums are built. I've never though of it realistically, but now its starting to make sense..

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Daniel Kim

Daniel Kim

Sales Representative
CENTURY 21 Atria Realty Inc., Brokerage*
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