How’s the 100 Queen condo downtown? Why buy a condo? Coming Soon: Located on the North side of Queens Quay East between Cooper Street and New Street, 100 Queens Quay East is perfectly positioned in Toronto’s next downtown expansion. 100 Queens Quay East is part of the Menkes “Sugar Wharf” redevelopment: an 11.5 acre, 4.5 million square foot mixed-use project featuring a 675,000 square foot, Class “AAA” LEED Platinum office building, an expansive new 3 acre public park, ~200,000 square feet of retail space and ~4,600 residential units. 100 Queens Quay East will be the new headquarters of the LCBO and will feature a flagship LCBO retail store. Construction for this new landmark office building began in Q4 2017 and is expected to be complete in 2021.
Please visit Sugar Wharf Retail for information on retail availabilities
The building is approximately 65% pre-leased, with approximately 223,000 s.f. of office space and 45,000 s.f. of retail space available.
Real estate investment involves a wide range of areas, in view of the different economic strength of investors, the choice of investment products are not the same. For some institutions and companies, it is generally a better choice to choose commercial properties with a long investment cycle and a stable cash flow return. For institutions and investors with strong economic strength and land development ability, choosing to buy land or old houses for development is a high-risk but high-return investment strategy. For the majority of small and medium-sized investors, buying ready-made residential properties to pursue real estate appreciation is the focus of most of these investors.
If real estate investors have limited funds and do not want to take care of the property too much, but also pursue a stable cash flow and hope to have a certain degree of house price appreciation in the future, investing in Condo apartments or uncompleted Condo apartments is a more common way of investment at present. The main advantages of investing in Condo existing houses or uncompleted buildings are:
- Compared with other real estate investment products, the threshold requirements for start-up capital for investment in Condo existing houses and Condo flats are relatively low.
- There is a serious shortage of rental units in Toronto in recent years, the rent is rising rapidly, the rent-to-sales ratio of Condo is also relatively higher, and the cash flow is good.
- The existing house of Condo is relatively convenient to manage, basically does not need to carry on too much maintenance and management to the property, and the Condo building does not need to spend much energy on investors before handing over the house. For many investors who own a large number of properties, the management cost is lower.
- The price appreciation of Condo is much faster than inflation, especially after the introduction of overseas buyer tax in Ontario, the prices of low-rise residential properties have been reduced to varying degrees, while Condo prices have maintained a trend of growth.
- The growth of Condo new houses in the city center is far from being able to meet the population growth rate of the city center, and the supply of houses exceeds the demand.
To sum up, the threshold for investing in Condo is lower and easier to manage, with stable cash flow and strong asset growth potential.
In addition to good cash flow, the current price increase of Condo in the Greater Toronto area is very good, but dating back to 2011 to 2016, the price trends of Condo and Freehold are completely different. The annual growth rate of low-rise property prices from 2011 to April 2017 is at a double-digit high, while the price of existing houses in Condo remains basically stable during the second period, with only a very small annual price growth rate. Condo even declined slightly in some areas.