HOT, HOT, HOT…That is what I call the condo market right now. As houses become more and more out of reach for most buyers, the alternative continues to be condominium living.

Certain locations and buildings have virtually sold out within two days, leaving behind hundreds of names on a Priority List that never even made it in the door. Does that sound like a market crash is coming any time soon?

Builders now are finding they have to give a very good standard package because their competitors are. Finishes now must include 9’ ceilings, granite counters, and islands and laminate wood flooring. Some are giving extra buying incentives such as free maintenance fees or an upgraded appliance package.

New buildings now seem to be adapting to the buying market. There is still a strong first time buyer component which requires smaller more affordable suites. At the same time the empty nester needs much larger; they are coming from a home with a lot of furniture. They want the condo lifestyle without sacrificing the space they have become accustomed to. The grand maintenance fees that come with these grand spaces do not seem to affect this move down purchaser.

Brochures and Presentation Centers seem to be getting bigger and better than ever!! All builders keep trying to outdo their last project or provide a bigger splash than their competitors. Believe it or not, this works! Purchasers love to see a brochure, sales office and model suite with a “sizzle”. They feel if the builder is willing to spend so much money on the presentation, they must take the same care when it comes to building the actual condominium. The key to these wonderful centers is to maintain them. There is nothing worse than seeing a beautiful garden at the entrance with wilted flowers and overgrown weeds. Also, the inside must be free of garbage, make sure all of the lights work and it is always clean. These first impressions to the buyer are lasting ones.

All in all I feel we are still headed for another record year in condominium sales. Interest rates are still low and the demand is still high. You will find the out skirt areas of the GTA will be very successful as they have this past year. Builders have taken chances to build in towns that have seen very little, if any, condominium projects and have been very successful. Prices will not fall, but will continue to go up due to the increased costs of construction.

So when your friends that know you are in real estate say; “so how is the market?” You can tell them the time to buy a condominium is now, you may have to wait awhile to move in but you will not regret it!!

As the condominium market continues to flex its muscles it is becoming the preferred lifestyle for people from every walk of life; builders, developers and architects are continually looking to enhance and differentiate their buildings from the competition. PMA Research is extensively looking at location, price, suite layout, construction costs and target marketing to create differentiation and enhance the bottom line.

The day of the cookie cutter design “boxy and repetitive” buildings are becoming a symbol of the past.

In recent years we have seen a major change along Toronto’s waterfront within the City itself and in suburban markets.  Replacing these former buildings of pre-cast brick and stucco with windows dotting the exterior are shapely, soaring and seductive towers of glazing.

Incorporating glass exterior, glass railings, sliding glass doors, glass curtain walls, glass lobbies, catwalks and floor to ceiling windows are making bold statements of individuality as well as creating breathtaking views and timeless design.

This extensive use of glazing not only differentiates their buildings from the competition but provides the sales force with another outstanding marketing tool.

Condo projects like Windermere-by-the-Lake, Crystal Blu by Bazis International, Legacy at Heron’s Hill by Monarch Corporation and Absolute by Fernbrook are spearheading this new frontier in condominium design.

These towers of glass, gracing Toronto’s landscape not only are infinitely beautiful and translucent but also bring light and emotion to the building environment.

This new direction is attracting all segments of buyers from the young to the mature who want to live on the edge of cutting design.

Obviously to a growing number of condominium builders glass is the better choice.