Industry all-stars are the unicorns of the pre-construction industry. Why? They are often called upon for their expert knowledge of this very niche industry, assisting in key sales and marketing decisions in the way of pricing, design details and much more for new projects across the GTA.
In fact, their companies are often the conduit between you and the builder, and their staff are at the frontlines collecting and sharing information.
We asked industry all-stars three simple questions — what’s hot, where they see the market going, and where they would buy…
Chris Markovich, Division President, PMA Urban
What’s hot in the world of pre-construction real estate this year?
There has never been greater selection, options and innovative design ideas than in today’s pre-construction new-home marketplace. Today’s design teams are thinking differently about smaller spaces and are on point with two-bedroom plans under 800 sq. ft. with two full bathrooms and shared living spaces, where the master ‘suite’ can be basically separated from the rest of the home. This is perfect for a roommate scenario or even for a multi-generational family.
Where do you see the GTA pre-construction market headed this year?
Looking forward to 2020, the fundamental elements are still there to support growth in the market. Population growth remains very steady, and leading lenders do not anticipate further Bank of Canada rate hikes – this should provide some level of comfort to new-home buyers. The new policies in the proposed federal budget should help raise homeownership in certain price points for select segments as the Home Buyers’ Plan (HBP) extends beyond first-time homebuyers to other segments, along with increased thresholds. New-home builders and developers are bringing creative product to the market with many new projects in development, creating great choices for consumers.
If you were buying today, what would you purchase?
A purchase decision in today’s market is an exciting prospect for anyone! Without hesitation, I would purchase a new condominium home in a building that offers the most in terms of connectivity to the community in which it is located. For me, it comes down to access and connection, so I would look for a location that offers ease of access to not only the city core but the rest of the GTA, a strong community feeling, and then I would look for a development that has views that have a strong chance of being preserved – lake or park views – that will never disappear!