Most condo investors under water in Toronto, CIBC report finds
UNSPLASHED/Justin Ziadeh
More than eight of 10 new condo investors in Toronto are under water, according to a new report from CIBC and Urbanation.
The report found that 82 per cent of new investors were cash-flow negative in the first half of this year. That’s a situation where rents do not cover ownership costs including mortgage, condo fees and property taxes.
That ratio is up from 77 per cent in 2023 and 40 per cent in 2020.
