Today's report...
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This & That
- Wide gap: New condos in Toronto are being sold for roughly $300 more per square foot than resale units, says Jamie Johnston, owner of RE/MAX Condos Plus. "I tell investors, you should never buy a gap of more than $50 a square foot," he says. "Once your new condo gets registered, you’re in the resale market. You haven’t made any money until the resale market rises to the price you paid…That's what we tell our investors…That’s why we're selling so much in Calgary right now. The gap there is much cheaper, and net migration is strong."
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