December 9, 2010
Which is a better neighbourhood for buying a new condo for investment?
|image from http://www.freecondoguide.com|
Ask the Pros Question of the Week: Which is a better neighbourhood for buying a new condo for investment? Liberty Village or LeslieVille?
A: Both Leslieville and Liberty are newer up-and-coming areas, successful developments of older industrial areas into hipper residential neighbourhoods. At least for now, the condo choices are probably wider in Liberty, while freehold choices are possibly better in Leslieville. Someone else might give me an argument here. Possibly the bigger question is whether a condo is a great “investment” at this point in the market cycle.
In a recent Globe and Mail article, three well-qualified analysts stated that 1) a serious double-dip recession was likely and necessary; 2) a double-dip recession was possible but should be fought by increased public spending; and 3) it isn’t going to happen at all, the recovery is started.
If you buy 1) or 2), you might want to wait for a bit of a correction. Condo markets tend to move (in both directions) faster and sharper than the overall market.
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