A Toronto Condos correction happened early this month when a major developer dismantled their sales office on trendy King Street West on a yet to be built 300 unit Condominium. The Minto King West project was paused as a result of slow sales and tightening credit. Minto however plans to return to the Toronto Condo Market with plans to separate this project into two smaller Condos that can be financed independently.
Other plans for similar larger Toronto Condo projects are being put on hold as larger Condos would take much longer to sell at this time.
There is talk and speculation among the Toronto Real Estate industry players that an imminent high profile Condo failure could happen in this correction.
Current Toronto Condos, Lofts and Townhouses in the downtown area can be found on our Toronto Real Estate website.