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Here’s how high interest rates are impacting Canada’s condo demand

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globalnews.ca

Rising interest rates and other headwinds in the construction industry have pushed builders in some Canadian markets to shelve condominium projects, while others say condo demand will hold up as supply remains tight.

Real estate consulting firm Urbanation released a report this week showing that builders in the Greater Toronto Area (GTA) are slashing the number of condo units they expected to launch this year.

Based on inputs from developers at the start of the year, Urbanation had projected that 35,000 condo units would be available for presales through 2022.

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DA: Philadelphia police officer charged for assaulting, threatening to kill his children's mother
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