As of June 2026, an investment firm bought about $30 million of unsold new condo units in Toronto in a single bulk deal, at roughly $700 to $800 per square foot. That does not mean the market has recovered. It means part of Toronto's new condo market is building a floor, and large money has decided the price is finally worth the risk.
I am Moe Asgarian, a Principal Real Estate Broker with RE/MAX in Toronto, ranked number 47 worldwide and in the top 1% in Canada. These units and these buyers pass through my own brokerage, so this is what the story looks like from the inside rather than from a headline.
What the $30 Million Toronto Condo Deal of June 2026 Actually Was
By mid 2026 we had heard no shortage of bad news about the Toronto condo market. Stalled projects. Buyers who cannot take delivery of their unit from the builder and cannot close. Then this landed. In June 2026, a Montreal based company moved into Toronto's new construction condo market and bought around $30 million of unsold builder units in one go. As of June 2026, the company said it intended to invest up to $500 million over the following twelve months and pick up roughly 100 condo units.
The important detail is where those units came from. They did not come from the ordinary resale market. They were units left sitting on builders' hands, or units that never sold from the start. Some of them were pre construction units where the original buyer could not close, so they fell back into the builder's inventory.
The June 2026 Discount: $700 to $800 per Square Foot
Reports in June 2026 put the purchase price at roughly $700 to $800 per square foot. Set that beside recent history. Many Toronto new construction projects were selling above $1,100 per square foot in earlier years. That gap is the whole story, and it tells you how much pressure the builders were under at the time.
This was not the only deal of its kind, either. In June 2026, an American company approached RE/MAX Hallmark, the brokerage I work at, with about $35 million set aside for bulk purchases from builders, and it had already bought a large number of the remaining condo units from developers.
Why This Is a Floor Forming, Not a Recovery
When large investors decide bulk buying has become attractive, what they are really saying is that the price has fallen far enough to be worth the risk. I read that as part of the market forming a bottom, not as the market turning around. Real estate is not the stock market. It does not reverse quickly. It lags when it changes direction, and it takes time to get back to a good stretch.
There are three messages inside this news. First, as of June 2026 the new condo crisis was still serious, because a builder who lets units go at this discount is a builder under real pressure. Second, the supply on the market in 2026 may look heavy, but future supply is likely to shrink, since builders will not start new projects while sales are this hard. A few years on that turns into a shortage again, and that future is exactly what these investors are betting on. Third, when the government lets investors use certain exemptions, including HST relief, it is signalling bulk buyers to come in and clear unsold inventory off builders' hands. The logic is simple: a builder who cannot sell does not start the next project.
Who Was Under the Most Pressure in 2026
In my view it is the buyers who purchased a few years before 2026. They bought at high prices, their units are being delivered now, and the market changed underneath them. Builders and bulk investors are transacting at lower numbers than those buyers paid. That means they cannot sell easily, cannot assign easily, and may not be able to use the new government exemptions either. It is a hard position, and it deserves to be said plainly rather than dressed up.
What I Tell Buyers and Investors in This Market
If you are a first time buyer, do not rush. Opportunities may open up in the new construction market. But buy with your eyes open. Look at the project, the price, the maintenance costs, the square footage and whether the unit will actually rent. Do not buy a discount by itself.
If you are an investor, you need a long horizon. This is not a market for buying and flipping. If your plan is to buy a condo and sell it at a profit two years later, I do not recommend it. You need to be able to hold for several years, rent it out, carry the costs and sit through the swings. And if you pre purchased and delivery is close, review your finances right away. Check what mortgage you can actually get and on what terms, check how much of your carrying cost the rent will cover, and run the numbers with a professional before you decide to sell or assign. On financing and affordability there is no room for politeness. The numbers either work or they do not.
If you want the current builder inventory list, the units that are ready for delivery and still have stock, fill out the form at the bottom of this page or book a free consultation with me. Stay well and take care.
Frequently asked questions
Was the Toronto condo market at its bottom in June 2026?
Speaking in June 2026, Moe Asgarian's read was that part of the new construction condo market was building a floor and prices were close to their low point. That is different from a recovery. Real estate lags when it changes direction, so a return to strong conditions takes time.
Why were investors buying Toronto condos in bulk in 2026?
As of June 2026, investors were buying unsold builder units at roughly $700 to $800 per square foot, well below the levels many new Toronto projects sold at in earlier years. They were also betting that future supply would shrink, because builders will not start new projects while sales are this hard, which would tighten the market a few years out.
Should I buy a Toronto condo as an investment?
Only with a long horizon. This is not a market for buying and selling within two years. You need to be able to hold the unit for several years, rent it, carry the costs and absorb price swings. Check the project, the price, the maintenance fees, the size and whether the unit will actually rent before you commit.