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Condo construction hammered by rapid rise in costs


The Globe and Mail
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Fred Lum/the Globe and Mail
Construction costs in Canada are expected to soar in 2021, with Toronto leading the way thanks in part to booming prices for the materials and labour that go into high-rise buildings.
The 2021 forecast by real estate data and consultancy company Altus Group expects overall construction costs in the Greater Toronto Area to rise by 5 per cent, though the final increase could fall in a range of 3 per cent to 6 per cent. No other major city is expected to face rises as rapid, though Vancouver could see a 2 per cent to 4 per cent increase to its already high construction costs. ....

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