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A flight to safety by foreign investors is fueling Toronto’s hot condo market, according to one real estate expert.
“We’re seeing lots and lots of international investors pouring in here and Vancouver," Don Campbell, president, Real Estate Investment Network, tells BNN. “But especially here all of a sudden. We’re seeing people want to park their money.”
But Campbell says the city's condo market could take a hit when problems in other parts of the world correct and foreign investors move away from safety to yield-oriented investments.
"If you’re going to be buying a condo, it better be for a three-year window or a ten-year window because confusion is going to come in five or six years from now," he says.