Tuesday, May 5, 2009

Investors Attracted to Condos for the Long Term

More people are seeing condominiums as an attractive investment opportunity than was the case a year ago, according to a survey released yesterday.

Toronto-Dominion Bank said 44% of respondents in a survey of urban Canadians said conditions had improved over the past year with regard to the prospects of buying a condo for investment purposes. That was up from 21% in a similar survey done last year. The bank said lower prices and mortgage rates are the main reason people are being drawn to condos as a way to make money over the longer term.

Read the full article from Canwest News Service "More see condos as investment: survey" in the National Post (May 5, 2009)