Experts are flagging that there could be a spotlight on condo properties in 2023. The focus on condos is mainly because they're more affordable.
Condo investors can also achieve outsized-returns because of the sharp rise in rental prices and immigration. Most of new Canadians rent condos during their first 3-year of immigration, showing a higher demand for condos compared to detached houses.
Condo prices have been more stable than low-rise properties, but they could decrease further, as there haven't been many distressed condo sellers yet.
The flip side is that the rental market is still quite strong, helping the condo market.