Q: My wife and I have sold our condo unit as we received a good offer and we are looking to buy another one. The prices of leasehold condos from the 1980s seem quite attractive. In addition to less chance of significant capital gains in the future, what other downsides should we be aware of? We are in our 50s and have two children in secondary school.
As you mull over the options for a new home, rents are on the rise. Urban Redevelopment Authority data shows that private home rents increased by 2.6 per cent in the fourth quarter of last year and 9.9 per cent for the entire year.