Voya condo . What are the risks of uncompleted property investment? Any investment is risky, and the greater the risk, the greater the return. Even if you put your money in the bank, there is a risk that the purchasing power will decline because of inflation.Please Visit: Voya condo to Get Your VVIP Registration Today!
As an important part of the whole national economy, the real estate market has a great impact on the whole economic situation. At the same time, the economic situation of the whole country has a great impact on the real estate market. For the country we live in, Canada, the industrial structure is relatively simple, mainly agriculture and forestry, resources, manufacturing, and has a high degree of economic dependence on the United States, especially Ontario. Quebec is the manufacturing center and is more dependent on the United States. With the rise of oil prices and the strength of the Canadian dollar, the manufacturing industry of Ontario and Quebec has been hit hard, directly affecting the economy of Ontario and Quebec. Toronto, as the largest city in Canada, accepts nearly half of the new immigrants every year, and immigrants make a great contribution to Toronto’s real estate, but the federal immigration policy is changeable, different political parties come to power, and immigration policies may be different. even the same political party in Taiwan, the immigration policy is also different at different times, which increases economic uncertainty. So we often find the following situation: today, an expert from Bank A predicts that the property market will fall. XX%, an expert from an investment analysis agency B predicts that the property market is going to rise tomorrow. I don’t know how they figured it out. Anyway, they will not be responsible for their own predictions. We must be 100% responsible for the decisions we make according to the experts’ predictions. For HIGH RISE’s CONDO uncompleted flats, the whole process from pre-sale to delivery may be as long as 3-5 years, and some properties may even last as long as 5 or 6 years for various reasons. during this period, the real estate market may change greatly. when the real estate market is handed over, the housing market is booming, developers and investors are making a lot of money and everyone is happy. If the housing market is not good at that time, investors should be prepared to hold it in the medium and long term. Rent out the unit first and sell it when the market warms up.
Changes in the laws and regulations of Canada’s three levels of government may affect the real estate market and, in turn, the value of your CONDO. At the federal level, the provisions of federal law on foreign ownership of Canadian property may change. At the Ontario level, Ontario’s land use policy may change, for example, by imposing restrictions on the development of certain areas, which will reduce the area of usable land in these areas and increase the value of the land. The introduction of HST, by Ontario will increase the burden on buyers of new homes in Ontario, for CONDO owners. The cost of management fees has increased again. at the municipal level, land taxes may rise, and there may also be a sudden increase in land transfer tax. the most obvious example is the increase in Toronto’s land transfer tax by former Mayor DAVID MILLER, which has increased the burden on multi-city home buyers.
In Canada, strikes are nothing new. A few days ago, library staff went on strike again. Further away, there were strikes by bus drivers in YORK District, strikes by TTC, and small-scale strikes. The strike of municipal workers in Toronto in 2009 not only led to piles of rubbish throughout the city, but also many buildings of PERMIT and check-in CERTIFICATE could not be sent out in time, affecting the final delivery time.
There are many developers large and small in Toronto, and some developers have their own construction teams. for example, the quality of buildings built by famous brand developers such as TRIDEL, will be more stable, and some companies do not have their own construction teams. they will find different construction teams in different projects and are managed by different project managers, which may lead to differences in quality, but although there are differences in quality, they will all reach BUILDING CODE in Ontario. The request of FIRE CODE. The most recent specific example of quality risk is that the MURANO CONDO, KING/JOHN developed by Lanterra near BAY/COLLEGE, the FESTIVAL TOWNER,YONGE/BLOOR developed by DANIEL, the CASA CONDO developed by CRESFORD, the glass exploded and fell to the ground. The developers, design companies, construction companies and management companies of these buildings are now being sued by the relevant owners for tens of millions of losses.
When you buy the first-floor CASA, you go to the developer’s magnificent sales office to get exquisite information. What is shown on the TV is the rendering of the building, the first-class location, the first-class design, and when you carefully select a 20-story unit facing east, you imagine the satisfaction of being in this unit. Everything is so beautiful, 3 years later, you get the key to move in, everything is as good as you imagined, when you are enjoying the beauty of the DOWNTOWN luxury CONDO high-rise, one day you go home, you inadvertently see that there is a SIGN,CHAZ CONDO, at the door of the office building in the east next door, you hurry home and check on the Internet, it turns out that a new 39-story building will be built next to it, so that a new 39-storey building will be built next to it in the near future. What you see on the balcony is not the beautiful view of ROSEDALE, but the house of the neighbor opposite. If you can’t stand this change, the only option is to buy the house. This often happens in DOWNTOWN these years. Many of the original PARKING LOT, or lower commercial residential units have been developed into new high-rise residential units, which inevitably block the view of nearby residential or office units. This affects the value of the unit.
Developers are unable to start construction due to economic or other reasons. The most famous recent example in Toronto is ONE BLOOR. When the real estate first opened in 2008, it was very hot. It was a major event in the city. Brokers queued all night, and the limelight was the same for a moment. However, during the financial crisis in the fall of 2008, developer BAZIS’s loan bank in France, SOCIETE GENERALA, cancelled the loan to ONE BLOOR, the developer.