Story perspectives

Toronto Condo Market Cooldown Benefits First-Time Buyers

10/25/2025

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Summary

Story summary

In Toronto, investors are exiting the condo market due to cooling prices and high mortgage costs, with many selling at a loss while first-time buyers gain.
Mortgage expert Victor Tran notes average prices around $655,000 and monthly payments similar to renting.
The market is now favorable for buyers who can negotiate.
In Vancouver, unsold units push developers toward rental projects and owner-occupiers instead of investors, with some optimistic about recovery.

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Story summary

In Toronto, investors are exiting the condo market due to cooling prices and high mortgage costs, with many selling at a loss while first-time buyers gain.
Mortgage expert Victor Tran notes average prices around $655,000 and monthly payments similar to renting.
The market is now favorable for buyers who can negotiate.
In Vancouver, unsold units push developers toward rental projects and owner-occupiers instead of investors, with some optimistic about recovery.