Resale prices have dropped, sales figures are a fraction of what they were a year ago, and buyers are out there but reluctant to pull the trigger. What's a Toronto condo developer to do?

In a slow market, developers are loathe to actually lower their prices as it devalues the entire project, ticks off previous purchasers and investors, and is generally considered to be a major sign of weakness. So how does one sell condos en masse in this market? More and more developers are getting creative with buyer incentive programs.

The Ritz-Carlton has a promotion where, new buyers will receive $250,000 in travel vouchers, redeemable in $25,000 increments every year for the next 10 years for visits to any Ritz-Carlton hotel in the world. Wow. Even I am impressed by that. There are units still available, ranging up to $9-million for up to 6,000 square feet. 

For Other Toronto Condominium Opportunities, Contact Us To Find, And Negotiate The Best Deal For You.  Good Deals Are Created, And Not Necessarily Offered.  Call Jeffrey Joseph At 416-782-7000, or by email, jeffreyjoseph@realtor.com,