George Athanassakos | How condo developers are bracing for a choppier market ahead

Ivey Professor George Athanassakos spoke with Canadian Business on the vulnerability of Canada’s housing and condominium market.

For Toronto specifically, Athanassakos said that the condominium market is particularly vulnerable with an oversupply of units hitting the market, and that we can expect Toronto condo prices to drop 25 per cent, leaving developers to struggle and cut back on construction.

“Over the last 10 years, it was all positive. There were tailwinds,” said Athanassakos. “Now, there may be headwinds.”