Has the expanded rent controls had any impact on the sale or value of condo units in the downtown?

TorontoRealtyBlog

Category: Condos

 

Hi David, 

Has the expanded rent controls had any impact on the sale or value of condo units in the downtown?

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Hi Marshall,

 

So far, there's no definitive evidence that investors have backed away from purchasing condominiums.

I haven't seen any decline in price, and if there were, I don't know that we can trace it back to investors, as opposed to end users.

I've sold two condos to investors since the announcement, both of whom I was working with before the announcement.

There's a sort of "natural turnover" in Toronto, since most tenants in smaller, 1-bed, 1-bath condos tend to move on every 12, 18, or 24 months.  Life changes, people move, get new jobs, move in with partners, etc.

The fear of a tenant staying for 20 years and the landlord not being able to raise the rents isn't warranted – at least not in Toronto.

 

David.

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