2026-01-22 | 08:13:20

From Liezel Once, MPA Magazine:

New condo sales in the Greater Toronto and Hamilton Area (GTHA) sank in 2025 to their lowest level since 1991, capping a four‑year correction that has reshaped one of Canada’s most investor‑driven housing markets.

Urbanation reported just 1,599 new condominium apartment sales last year, a 60% drop from 2024 and 95% below 2021 levels.

The slowdown coincided with a record wave of project cancellations. A total of 28 active projects, representing 7,243 units, were scrapped in 2025, more than double the number of cancelled units in 2024 and above the previous peak in 2018.

Urbanation also found roughly 10% of pre-sold condos registered in 2025 were taken back by developers after buyers failed to close, or about 3,000 units.

Not great news if you are trying to sell a condo right now, but if you are looking at getting into the market it might soon be a great time to 'buy low'.

If you have any questions about investment property financing, please feel free to call or email me anytime.

Patrick Duggan

905-299-4665