Ontario is lacking condo managers and some worry it'll only get worse as more units get built

Ontario property managers are raising the alarm about the province’s growing condo market, saying there’s not enough of them to handle an expected influx of units.

According to data from the province and the industry’s separate regulatory body, The Condominium Management Regulatory Authority of Ontario (CMRAO), there are currently some 2,500 licensed managers in the province overseeing around 950,000 units across Ontario. 

That’s a figure some in the industry say is leaving managers spread thin and will only be exacerbated by the glut of managers getting ready to retire. Add to that the growing number of units expected to be ready for occupancy in the coming years, and some worry the the lack of managers will mean issues across the board, be it for residents or building owners.

Research by the real estate consulting firm Urbanation suggesting a record number of 25,000 new condo units will be ready in Ontario

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Real Estate

Commercial Real Estate Prices May Crash 40% From Peak, Worse Than 2008

  • Commercial real estate may suffer a worse crash than 2008, warns Morgan Stanley Wealth Management.
  • Prices could drop up to 40% from their peak as hybrid working and higher interest rates bite.
  • Landlords, various lenders, and business communities all stand to lose from the downturn.

Commercial real estate prices could plummet as much as 40% from their peak in a worse crash than the 2008 financial crisis, according to Morgan Stanley Wealth Management’s chief investment officer. 

The grave outlook is based on a raft of headwinds buffeting the commercial real estate sector, including the work-from-home trend and higher interest rates making it harder for investors to refinance a mountain of looming debt. 

“MS & Co. analysts forecast a peak-to-trough CRE price decline of as much as

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6 Unusual Rules That Have Shaped How Condos Have Been Built (For Better Or Worse) - Property Blog Singapore

Property developers in Singapore have a solid reputation, but a common criticism is that our projects are all “cookie-cutter”. There’s only one Interlace for every dozen other similar-looking projects. But there are reasons why developers build this way, just as there are reasons for some of the more awkward design choices.

For example, you’ve probably wondered why some rooftop facilities don’t have a proper shelter built when it seems like such an obvious thing to include. Or perhaps why do some developments just have so few car park lots (or even visitors ones for that matter), when it only makes sense to build more for the number of units.

Truth be told, while most things would just come down to cost, there are some others that actually have reasonable explanations for it.

Here are a few of the most common ones:

1. Bigger condos are more “cookie-cutter” thanks to ABSD

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Real Estate

Canadian Real Estate Affordability Got Worse With Higher Rates, What Gives?

Canadian real estate prices are falling with higher mortgage rates, but has it made it easier to buy? Bank of Canada (BoC) data for December’s new uninsured mortgage loans shows the highest rates in well over a decade. Interest costs are rising faster than prices are falling, meaning worse affordability. The hiccup is due to the speed at which rates increased, and affordability is expected to improve in the coming months.

Canadian Mortgage Rates Have Surged To The Highest Level In Over A Decade

Mortgage rates are on the climb, which isn’t news to anyone in Canada. It’s the speed they climbed that’s remarkable. Average interest on a new mortgage jumped 0.24 points to 5.53% in December. It was 3.53 points higher than a year before, more than doubling the record low recently experienced. Canada hasn’t seen a mortgage rate this high since the Great Recession. 

Canadian Mortgage Rates Have

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