Condominiums are becoming less desirable as an investment, a recent survey suggests, with 30 percent of Canadians saying they no longer consider condos a worthwhile purchase.
Leger conducted a survey for financial and insurance platform Rates.ca to gather Canadians’ opinions regarding condominium ownership. Only 22 percent of those polled described condos as a good investment.
The survey also found that 57 percent of respondents said they would not purchase a condo for any reason compared to 11 percent who said they would.
As this was the first time Rates.ca commissioned the survey, the organization could not provide historical data for comparison, but said there are several factors fuelling a softening condo market….