Here's How the Vaccine May Bring the Toronto Condo Market Back to Life!

Here's How the Vaccine May Bring the Toronto Condo Market Back to Life!
Recently, it's been announced that there's not one, but TWO potential vaccines that have shown to be highly effective against the virus. That's twice the fuel for a potential Toronto Condo Market comeback?! What is REALLY going to happen to the Toronto Real Estate Market once an approved vaccine hits Canadian soil? In this episode of Prime Properties TV, I share my thoughts on exactly how the vaccine will impact the Toronto Condo Market. Be sure to tune in because my thoughts may surprise you!
The vaccine is great, but I don’t think it’s the cure-all-be-all for all of the Toronto Real Estate Market woes. There are other factors that need to be addressed before the Toronto Condo Market can regain its strength and momentum.
On the other hand, is the vaccine going to slow down the suburban crawl and put a pause on those wanting to flee the Downtown Toronto Real Estate Market? I explain that as well in this week's episode of PPTV. Tune in for all of your awesome Toronto Real Estate Market updates and more!
#TorontoRealEstate #TorontoCondoMarket #TorontoCondoComeback #TorontoRealEstateMarket
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[@urbanzengirl]

I am thinking people won't really be back to work downtown on any full time capacity until sometime in 2022, and some companies have already agreed to permanent wfh. I think it will be interesting times considering some 1 bedrooms downtown are going for $1600 so I am thinking people who got these rates may not want to leave these units! . Regarding exurbs what areas are those exactly?

[@PrimePropertiesTO]

Some companies are already back to work, it just depends on who you talk too. Brookfield is fully at the office. Agreed, on people not wanting to leave those 1600/months. Exurbs = hamilton, oshawa, barrie + further from those cities.

[@urbanzengirl]

@@PrimePropertiesTO yes Brookfield has definitely set an interesting example. My office has been open the entire pandemic - what they did was rotate staff who had to come in and anyone who could operate remotely could stay at home, but we do end up going in because certain tasks can't be completed from home. I also have definitely noticed more people in the downtown core working.

[@PrimePropertiesTO]

@@urbanzengirl Yea, some other companies have done the rotating as well. The thing I was monitoring when the pandemic all started was office leases. Surprisingly not many have defaulted or wanted out. This means the companies are either "locked" into their lease or plan to keep the office space. Curious to see what Shopify does with their new office tower at The Well now that they are permanent wfh. -Zhen

[@wlem99]

Sigh...spoken like a true real estate agent. Buy buy buy before it’s too late. Insane.

[@PrimePropertiesTO]

What kind of effect do you think the Vaccine will have on the Toronto Real Estate market?

[@Howard0Beale]

lol keep telling yourself that