How presales helped Canada’s condo market boom, then collapse
Canada’s condo presale market has collapsed, with sales down 95% from 2021 and record project cancellations. Prices rose far beyond resale values, driven heavily by speculation.
Leor Margulies of Robins Appleby says the downturn reflects the emotional nature of real estate cycles — and the growing number of buyers who purchased multiple units without the financial ability to close. With no system tracking how many presale contracts a buyer holds, speculation went unchecked.
His takeaway: market corrections are inevitable when people stop buying homes to live in — and start buying three, four, five units they can’t carry.
See the full articles HERE.
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