“The reality is that condo investments are up between 5 to 10 percent year-over-year across the Greater Toronto Area.” – Costas Kivelos, Founder of First Access Condos
First Access Condos Founder, Costas Kivelos takes a deep dive about all the ins and outs for investing in Toronto’s Pre-Construction Real Estate Market. Costas believes that this is THE year and he shares three main reasons to invest in condos in 2023:
1. The Communities Need It
Condos are a necessity for the community which means that they would be the last thing to get affected by economic impacts including price fluctuations, interest rates, inflation and economic downturns. And the main reason for this is because the “wants” of the community are impacted first, before any community “necessities” are affected.
2. You Can Predict the Condo’s Current and Future Value
Investing in condos means that you can understand how much a condo will increase in value based on criteria. The criteria to determine a condo’s value is considered based on the following, but is not limited to:
- Whether an area is up and coming
- How much more development will take place
- Transportation plans
- Accessibility to employment hubs
These are a few considerations that allow you to gauge the community to better understand the value of your investment.
3. 2023 is The Year to Invest and Make Money
“This is the reality of investment strategies for most successful individuals… and the reason behind that is that you never follow what emotion is telling you to do,” says Costas.
Throughout history, the way to make money is to do the opposite of what everyone else in the market is doing. For example, when everybody is selling, that’s when you should be buying and when everyone’s buying, that’s when you should be selling.
Watch Costas share more insights about all the reasons to invest in pre-constructions.