The cancellation of a ten-storey Toronto condominium development that has thrust would-be owners back into an increasingly competitive condo market has renewed calls for tighter regulations and more protections for buyers of pre-construction projects. The Museum FLTS condominium cancelled earlier this month is the latest condo project to be shelved. She said more measures should be put in place to protect pre-construction buyers who may find themselves priced out of the housing market if their purchase falls flat after years of appreciation. The condo market is now driving price growth in both Toronto and Vancouver. This pattern has had developers increasingly eyeing the condo segment of the housing market, said Frank Magliocco, national real estate leader for consultancy PwC Canada.

Source: National Post November 10, 2017 18:33 UTC