Leftbank condos . The Condo market will face great changes again. When the epidemic is serious, the Condo market also has the feeling of being abandoned. More and more people do not dare to move in, and the rent does not go up, which also poses a significant pressure on housing prices.Please Visit: Leftbank condos to Get Your VVIP Registration Today!
So far this year, it is said that the Condo market has rebounded to some extent. On the one hand, the vaccine brings confidence, on the other hand, it is the price comparison effect formed by the strong House market.
But today, can everyone boldly stay in Condo? I believe the answer is still in doubt.
How much breakthrough ability do variants, new varieties and new varieties of virus have to the vaccine? In the coming months, especially when winter comes, we still need to observe for some time. Once the vaccine cannot stop the continuous evolution of the virus, it is conceivable that another round of panic will flood the market, and the Condo market will still face considerable selling pressure.
Not only that, the uncertainty faced by the Condo market comes from many aspects, such as CRB suspension, vacancy tax, stress testing and so on. It can be said that there is not much good news.
Recently, this uncertainty has been added to another layer.
According to the latest news, the city of Toronto may soon require developers to ensure that carbon emissions and energy consumption of new buildings are reduced, while adding more green roofs and electric car parking spaces, and promoting local pollination species such as bees.
Bryan Purcell, vice president of policy and program for the Atmospheric Fund (The Atmospheric Fund), a regional climate change agency, said it was part of the fourth update of the green standard proposed by Toronto. This is also a key step for Toronto to achieve zero greenhouse gas emissions by 2050.
Purcell recently told Toronto’s Urban Planning and Housing Commission (Planning and Housing Committee): “with the rapid development of the city, if we do not transition to near-zero emissions of new buildings, there will be no road to zero emissions.”
“the Toronto green standard is the city’s most important climate policy.” The recommendation was adopted by the Committee a few days ago and will be considered by the Council of the whole in July. The updated standards will come into effect in May 2022 and require new mid-and high-rise residential and commercial buildings to reduce greenhouse gas emissions and energy consumption by a further 25 per cent and 28 per cent per year, respectively, compared with the current version of the target. At present, the relevant goals are voluntary, but after the fourth update, they will become mandatory.
Whether it is the carbon tax or the new green standard of Condo, the logic behind it is the same, and it is also an inevitable trend in the future.
It can be predicted that once the new Condo adopts the new standard in the future, then the cost will rise a lot, because now all aspects of material labor are on the rise. The pressure on new owners will be even greater in the future.
So is it good news for the stock Condo market?
Not necessarily, will the stock market not implement the new standards? I think it is only a matter of time before we follow up. Moreover, the associated costs may be even greater. In other words, Condo owners are likely to put a hoop on them in the future.
According to the Atmospheric Fund, buildings account for 59% of Toronto’s carbon emissions. With the expected rapid growth and development in the coming decades, the city’s skyline will increase even more. That’s why Toronto is trying to achieve near zero emissions by 2030 by raising standards for new buildings.
To meet energy goals, developers can install well-insulated window walls in apartment units or reduce the size of windows to retain heat, Purcell said in an interview. To reduce carbon emissions, developers can invest in the best natural gas equipment, or efficient electric heat pumps.
“We know that these are feasible at a reasonable cost.” “the goal is challenging,” Purcell said. That’s because climate change is a pressing challenge. Like any other industry, we are providing some challenging goals for the development industry. “