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In recent years, Canada has seen a condo boom that has been party fuelled by a dramatic increase in the number of sales to "investors", who purchase units (with little money down) before construction, with the expectation of renting those units out once completed, and eventually selling for a significant capital gain. These investors have reaped great rewards as the price of condos in Canada's largest markets has being on a seemingly unstoppable climb.
The tortoise to the condo speculation hare has been private REITs, which have also benefitted from robust economic conditions in real estate, providing consistent attractive yield (coupled with moderate capital appreciation) to investors, who pass the decision-making and day-to-day operation of their assets to professional managers.
Our guests this week will be Greg Romundt, President, Centurion Apartment REIT and Hunter Milborne, President, Milborne Real Estate. Greg and Hunter will discuss the relative strengths and weaknesses of their models and help alternative investors decide how best to enter and profit from the private Canadian real estate market.