Vast Majority of Greater Toronto New Condo Investors Losing Money Every Month: Report

Vast Majority of Greater Toronto New Condo Investors Losing Money Every Month: Report
A new condo construction site is seen in downtown Toronto on May 25, 2023. The Canadian Press/Chris Young
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Canada’s largest condo market is facing its biggest test in decades as the number of investors losing money every month, and the amount they’re losing, has ballooned, says a new report from CIBC and Urbanation.

Rising costs have left 82 percent of investors in newly completed condos who have a mortgage as cash-flow negative in the first half of 2024, said the report, which was released on July 25.