CCCA Founding President Raymond Wan Featured Again on Rogers Omni News
The National Bureau of Statistics released figures for investment in new housing construction nationwide in September of this year.This indicates that developers intend to increase their investment in the national housing market this fall. Ontario is a major driver of investor investment in new housing construction, contributing to the nation's total housing investment. Statistics Department figures show that developers’ confidence in investing in the construction of new residential and commercial properties across the country is gradually recovering. The report indicates that in September of this year, developers invested HK$21.6 billion in housing construction. It rose 2.11 TP3T compared to August, and 6.71 TP3T compared to the same period last year. Regarding residential buildings, the investment in newly constructed residential housing nationwide...September saw an increase of over $430 million, with over $230 million of that occurring in Ontario alone.The construction industry agrees that builders across the country and in Ontario have been eager to invest in and construct new properties in recent months.
In the past month or two, we, as builders and developers, have all felt that the market has recovered.Ontario itself is an economic powerhouse in every aspect.So, all of these factors combined reflect that there are already signs of this recovery beginning.The report mentioned that investment in low-density housing nationwide reached over NT$270 million.Ontario accounted for over $140 million of that investment. The total investment in newly built apartment buildings across the country exceeded 160 million yuan. However, Ontario's investment amounted to only $90 million. Wen Wenwei frankly admitted that the development fees levied by the Ontario government on newly built parking lots are too high. Adding the value of existing vacant properties built within the province, developers may need to clear their existing inventory first.Only then will we consider investing in and building new condominiums.
To officially obtain a construction loan, a condominium owner needs to sell their property for 70%. If your sales do not meet this standard,Basically, you can't start working without securing a loan.
He stated that construction workers' wages and raw material costs remain high. All of these factors have limited the amount of investment available to developers. Fortunately, the interest rate cuts continued, reducing developers' borrowing costs. He predicts that more developers will invest in building new buildings next year. 。