The total Toronto Condos sales in December 2008 was only 198 units compared to 1,024 during the same period last year according to Realnet Canada Inc who track the housing market.

Industry experts do not have much hope for January or even February that the Toronto Condo Market will be much better.

Toronto Condo price cuts are slim however Condo builders will now have to offer special incentives to increase demand:

• Condo upgrade packages
• Free parking
• Lower down payments
• No maintenance fees for specified time
• Special financing deals
• Redesign of Condo suites
• Smaller suites for lower price

Toronto resale Condos will prove more popular when the finished new Condos become fewer due to projects being delayed or cancelled.

This new buyer's Condo Market should bring back even greater affordability for Toronto Condo buyers.