"Construction activity for new condo apartment units is ... expected to remain historically high by the end of this year and next, but still below the all-time record posted in 2010. Healthy demand for smaller but trendier condos closer to the core is coming from affluent young professionals and empty-nesters looking for an active and convenient urban lifestyle.
"This in turn constitutes evidence suggesting that builders continue to operate largely in tune with demand fundamentals and have so far refrained from speculative overbuilding in a market segment that is drawing in growing investor presence ... With only few plans on the drawing boards, rental apartment construction is expected to remain subdued, opening the door to continued investor activity."
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