Meet Water’s Edge, 38 Annie Craig Drive, Humber Bay Shores’ newest condominium. Water’s Edge is a 56-storey luxury waterfront condominium residence that contains 602 suites.
Despite all the doom and gloom in the news media about the pre-con market going bust, it is very interesting to see the latest condominium project in Humber Bay Shores hold firm to its pricing since May 5, 2024.
The condo market has taken a punch over the last year due to delayed interest rate reductions, and, even now, remains slow as consumer confidence has taken a toll due to the current political climate. Despite this, reputable builders like The Conservatory Group have held firm to their pricing strategies for their remaining inventory.
Here you will see prices per square foot ranging from $1,669 per square foot to $1,861 per square foot for penthouse suites. These prices have held firm since May 5, 2024.
While Palace Place owners are eroding their property values by chasing the market down with price reductions, builders are realizing that there is a payoff in waiting. Right now, renovated Palace Place suites can be had for on average $1,000 per square foot. These are amazing deals that will not last long, especially once the cycle of buying kicks off for 2025.
When it comes to new construction, newer IS NOT better.
When new, inferior construction is charging up to $1,900 per square foot, buyers are learning of the incomparable advantages that only Palace Place can offer. Why buy the K-car when you can own the Mercedes-Benz?
Buyers want space, and, most importantly, buyers want quality. New construction fails to deliver these two key requirements. Palace Place offers unrivalled construction, spacious floor plans, 5-star amenities and services, and million dollar forever views that you cannot find in new buildings today!
Palace Place is an Amazing Deal for Buyers: Where else can you get the 5-star life for this price?
Always remember that condos are not apples to apples comparisons. Buyers must do their due diligence to know exactly what they are buying into. The province does not mandate full disclosure of construction to buyers to the buyers’ detriment, so buyers must do their homework. Yet, sadly they don’t. Buyers ultimately fall for the dreams that builders sell instead of recognizing the harsh realities.
Here at PalacePlace.com we can tell you every single detail about Palace Place and why there is not a condo in Toronto that can compare to it. Just peruse this blog for details you will not find from other condos or call Luke Dalinda at anytime to learn more about the benefits of Palace Place.
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Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.
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View all current and past Palace Place listings for sale here.
E: LDALINDA@DALINDA.NET • TEL: 416-725-7170
Luke Dalinda, Realtor. Royal LePage Real Estate Services Ltd., Brokerage.