Slowly rising interest rates may add some volatility, but the vaccine rollout – and its promise of an eventual end to the pandemic – is fuelling optimism among condo investors. So are rising house prices in the suburbs.
Compare that to the fall market, which was loaded with condos as investors looked to sell units left empty by tenants moving out of the downtown core, and as international students stayed home to study remotely, Morrison says. Some Airbnb owners were also looking to sell as the city changed its rules for short-term rentals. A new regulation that came into effect in September requires owners to register their short-term rentals with the city and restricts the operation of Airbnbs and other short-term rentals to primary residences only.