This article discusses the expanded market for condos, particularly in Toronto.
Appropriate Subject Area(s):
Entrepreneurship, business management, marketing, supply and demand, foreign investment
Key Questions to Explore:
- What is the impact of foreign investment in the Canadian housing market?
Introduction to lesson and task:
This lesson explores the Toronto condo market and extrapolates how the activity in Toronto impacts the housing market across Canada.
Action (lesson plan and task):
- Ask students what the condo market is like in your community.
- What criteria have they used to judge it? Brainstorm as a class a list of criteria.
- Ask them how supply and demand impact the condo market.
- Distribute the article for reading for homework.
- In small groups, have students later discuss the following questions:
- Why would someone from China be interested in owning real estate in Canada?
- What are some of the key differences between a condo in Toronto and a condo in the rest of Canada?
- What has been the traditional method of marketing to foreign buyers?
- What is the newest method being used to market to foreign buyers? Why the change?
- Why are condo developers interested in foreign investors/buyers?
- What are the risks for Canadian developers? Foreign investors? Canadian buyers and owners?
Consolidation of Learning:
- Research project: Have students use the Internet, newspapers and other sources to research the condo market in four communities across Canada. Their home community should be one of the four. Have students look at average price per square foot, average number of units available, the number in process of being built and days on the market for the average resale. From their findings, have students do the confirming activity below.
- Students understand how supply and demand in real estate is impacted by foreign investment.
- Have students do an overall assessment of the role foreign buyers play in fuelling the housing market in Canada?