If you can only use one word to describe the current condo market, what would it be?
Expensive.
Right?
This is actually the same opening line I used for my 2019 seminar.
We thought everything was very expensive back then.
But when we look at 2019 prices now…
They look so cheap!
And at which point in time did we ever think prices are cheap?
Never.
It always seems expensive.
You see, expensive or cheap is not a good metric to describe the market because it is just relative and not absolute.
A one million dollar price tag seems expensive today.
The same one million dollar price tag may seem cheap 5 years down the road.
In fact, there was one transaction that went viral last week.
A 650 square feet 1+Den unit with 1 parking in a 1-year old building, located in the Hwy 7 and Warden, downtown Markham area.
Guess how much it got sold for?
$948,000.
Then, is a one million dollar 1 bedroom pre-construction unit in downtown Toronto expensive or cheap?
You see, what you need to do is to disregard all the noise and always stick to the basic principles.
Don’t panic buy because everyone is buying.
But if you have the extra cash ready, any time is a good time to invest because the market goes up and down, up and down, but the long term trend is always up.
So as long as you invest for the long term, at the very least 5 years, you’ll always be fine.
Today, I want to tell you about a very unique opportunity that would allow you to throw a small stone as far as possible.
There are 3 reasons why I recommend the Concord Sky.
#1 The Address
Concord Sky is located at 373 Yonge St, right at the southeast corner of Yonge & Gerrard.
It’s surrounded by the new buildings of Ryerson University.
Ryerson has been expanding from Church St all the way here to Yonge St.
The Yonge & Dundas intersection is just a couple minutes down the road.
In New York, it’s the Time Square.
In Toronto, it’s the Yonge & Dundas Square.
That’s how significant it is living only steps from Yonge & Dundas.
Of course, the landmark shopping mall Eaton Centre and the subway station are right there as well.
You can walk to the Hospital District in 5 minutes.
You can also walk to the Financial District within 10 minutes.
You see, this is such an evergreen location, surrounded by the University, Hospitals, Financial District and is on the Yonge subway line.
#2 The Tall Landmark Architecture
If you Google for the most famous street in Toronto, it’s going to say Yonge St.
Let’s talk about the super tall landmark residential towers on Yonge St downtown.
The first one is One Bloor, right at the southeast corner of Yonge & Bloor.
257 metres tall with 76 storeys.
A high profile architecture at a high profile location draws a lot of demand to the building.
And we know that’s going to translate to high property value.
The success of One Bloor is now being replicated at the southwest corner of Yonge & Bloor.
It’s called The One, 338 metres tall with 94 storeys.
At the northwest corner of Yonge & Gerrard, we have Aura, 272 metres with 79 storeys.
If we move all the way to the waterfront, we have One Yonge at Yonge & Queens Quay.
312 metres, 95 storeys.
Concord Sky is going to write a new chapter to tall landmark architecture on Yonge St at the southeast corner of Yonge & Gerrard.
299 metres, 95 storeys with digital display on the walls.
Concord Sky will be such an iconic backdrop for the Yonge & Dundas Square.
You see, that’s going to create an extraordinary emotional value for people to buy into this building.
#3 Construction Time
Normally it takes around 4-5 years to construct a 50 storey condo building.
How long is it going to take to build a 95 storey building?
At least 6-7 years.
From an investment point of view, the longer, the better.
Why?
You see, I’m only putting down a 20% deposit with today’s money.
Over the next 7 years, the property’s value is going to grow with the market.
So I’m only paying 20% of the price, but enjoying the appreciation from 100% of the thing.
Where else can you find such a thing to invest into?
That’s what I meant by throwing a small stone as far as possible.
Because this opportunity is so unique, the rules for getting a chance to purchase a suite is very different from all the other projects.
If you believe in this investment and would like to enjoy a true priority treatment, you can schedule a call with me at the link below now.