A housing market analyst says that the reports of overvaluation for single-family homes in the Greater Toronto Area hasn’t extended to condos. Brian Persaud, a real estate agent and the author of Investing in Condominiums, says that prices have been less fiery than for houses. He told Metro News: “The average price of a condo downtown was $460,000 last month. And it was $440,000 this time last year. I mean, that’s not nuts.” Persaud says that investors are not cashing in on flipping pre-construction condos as builders are “aggressive” on price and the punitive tax regime makes the practice unprofitable.
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