OTTAWA—Condo flipping was never pervasive in the Vancouver and Toronto housing booms and that sliver of the market has faded over time, suggesting tougher measures to curb speculators won’t make those cities more affordable. This year’s housing slowdown is a major reason why flipping a condo has become even less attractive, said Steve Saretsky, a realtor who runs the Vancity Condo Guide blog. Vancouver apartment prices have fallen 3.1 per cent over the last three months, according to the city’s real estate board. For other properties the share of paired sales averaged 2.8 per cent over the last five years. As Toronto announced new regulations on foreign buyers in April 2017, paired sales reached a record low of around 1.1 per cent, and in June of this year represented just 1.8 per cent of condo sales.

Source: thestar October 15, 2018 17:15 UTC