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Article content Soaring house prices could push buyers back to condo market It’s no secret Toronto’s condominium market has suffered amid the pandemic. Listings flooded the market and rents dropped as city dwellers fled the downtown in search of single-family houses with ample space to work and learn. We apologize, but this video has failed to load. Try refreshing your browser, or Condo market 'will come back with a fury' Back to video But demand for condos in the city is rebounding and “will come back with a fury” when life “returns to a version of its former self,” says Heather Hadden of Hadden Homes in Toronto. “By the end of 2020, investors and end users started to come back, hoping to cash in on heightened supply, lower prices and greater negotiating power.”
Declarants will be required to provide purchasers of pre-construction residential condominium units with the new Condo Guide, developed by the Condominium Authority of Ontario and the Ministry of Government and Consumer Services. The Condo Guide becomes part of the disclosure statement package. The Purchasers' 10-day rescission period begins only after the developer has provided both the disclosure statement AND the Condo Guide. The requirement applies to all new sales of pre-construction condominium units on or after January 1, 2021, regardless of whether the project launched prior to that date. Effective February 1, 2021 New Home Construction Licensing Act, 2017 ("NHCLA") The NHCLA will be proclaimed into force and will establish a new