For new condo buyers, the price has got to be right

As rising interest rates batter the real estate market, sellers of preconstruction condominiums are finding there are limits to Toronto’s demand.

It takes years for a preconstruction contract sold today to turn into a finished condo that has to be fully paid for. But industry insiders say the current environment is making long-time condo investors – the engine of the preconstruction market – pickier about the kind of deal they want to tie themselves to.