CCI Manitoba Chapter News

Quality of condominiums units

An article published by CondoBusiness (part of the REMI Network) titled "Condos viewed as viable long-term housing option" provides some data on condo market trends in Toronto, similar to our reporting of the local market here in the Reiss Report. Beside the trend data though there were some interesting and disturbing comments about the quality of condominium units. Here are a few quotes from the article - 

"... there remains a significant dissatisfaction with the current state of Toronto’s condo landscape, with a staggering 93 per cent of respondents who feel that Toronto needs better-built condos and 79 per cent who believe most condo units are cheaply made.”

"...much needed ‘flight to quality and value’. This means that buyers are no longer paying any price, for any project and location, all on the speculation that the market is going to make any purchase a good purchase. The result is that the fewer projects with great quality and location are still selling and holding value, but the many projects with low value product and location are not."

What are your thoughts about the quality of condominium units here in Manitoba? Feel free to comment via emai to us.