Welcome back, folks! In this video, your favourite real estate agent, Michael Prior, delves into the intriguing dynamics of the downtown Toronto condo market. Join us as we unravel some eye-opening insights and shed light on recent trends shaping the landscape. Over the past few years, we’ve witnessed a remarkable surge in property sales, particularly in the realm of vacant or tenant-occupied units. From 2022 to 2023 alone, there was a notable 6% increase in properties hitting the market, sparking curiosity about the underlying reasons driving this phenomenon. Could it be that perceptions of landlords as solely profit-driven are misconstrued? Our discussion explores the possibility that many property owners are actually struggling to turn a profit, leading to a surge in listings. Moreover, with changing economic realities, individuals who once saw real estate investment as a viable option may now find themselves unable to sustain rental properties, thus opting to sell. Join us as we dissect these trends and offer insights into the implications for both landlords and tenants. Whether you’re a seasoned investor or a prospective buyer, understanding the dynamics of the downtown Toronto market is crucial.

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