Welcome to the CRE podcast. 100% Canadian, 100% commercial real estate.

In this episode of the Commercial Real Estate Podcast, hosts Aaron Cameron and Adam Powadiuk welcome Shaun Hildebrand, President of Urbanation, to explore the forces reshaping Toronto’s real estate landscape. They discuss why new condo development is slowing, the limits of purpose-built rentals in filling the gap, policy-driven cost pressures, and the shifting dynamics of downtown and suburban demand. Sean shares data-driven insights on market corrections, supply challenges, and what lies ahead over the next five years of the Toronto real estate landscape.

What you will learn:

• Why Toronto condo sales have dropped to their lowest levels since 1993


• How the current cycle will lead to virtually zero new condo completions by 2029


• Why purpose-built rental construction, despite reaching record levels, cannot offset the decline in condo development


• The impact of development charges and government taxes making up 30% of development costs


• How rental market dynamics are shifting, with downtown Toronto showing early signs of stabilization


• Why a 20% correction in condo prices is needed before the market can reach equilibrium


• How population flows and work-from-home trends are reshaping demand patterns in downtown vs. suburban markets


• The critical need for policy changes to incentivize both condo and purpose-built rental development


• Why small units (under 600 sq ft) face the greatest market challenges, while larger units remain relatively stable


• How the conversion from condo to rental developments presents both opportunities and challenges for developers

Shaun Hildebrand is the President of Urbanation, a leading research firm specializing in analyzing high-rise residential apartment markets across Canada. With extensive experience in real estate market analysis, he has established himself as a trusted authority on housing supply, demand dynamics, and market trends. Shaun’s work involves tracking new construction condos, purpose-built rentals, and land markets throughout the Greater Toronto Area, Greater Golden Horseshoe, Ottawa, and Montreal. 

The post Toronto Condo Crisis: What’s Next for Developers with Shaun Hildebrand, President of Urbanation appeared first on Commercial Real Estate Podcast.