A new cibc report says for the first time ever, more than half of newly-completed condo investors in the Greater Toronto Area were losing money on their rental properties last year — and its authors expect the trend to persist.
The Canadian PressTORONTO — A new report says for the first time ever, more than half of newly-completed condo investors in the Greater Toronto Area were losing money on their rental properties last year — and its authors expect the trend to persist.
For the majority of investors, rent generated by newly-completed units was lower than mortgage costs, condo fees and property taxes.
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