During a recent Rock Star webinar, Sasha Cucuz, CEO of Greybrook Securities Inc., participated in an engaging discussion with webinar hosts Tom Karadza and Nick Karadza from Rock Star Real Estate Inc. The discussion delved into the GTA investment landscape, insights into international markets, cost dynamics in the construction industry, and the sustainability of the market.
Watch the entire webinar below.
Sasha emphasized the significance of diligence in real estate, whether dealing with a single property or a large-scale development project. He noted that the core process of understanding markets, demographics, and comparable properties remains consistent regardless of the project’s scale.
As the conversation progressed, he shared his opinion regarding media-driven narratives, emphasizing the unique factors contributing to Toronto’s growth, such as high immigration levels and concentrated urban lifestyle choices. He described Toronto as a global city with sustained demand, and he anticipates continued growth despite short-term market adjustments.
Addressing the rising costs in construction, Sasha discussed the challenges posed by increasing material and labour costs. Despite short-term market corrections, he sees a sustainable tailwind supporting the real estate market, attributing it to the fundamental supply-demand imbalance.
The conversation touched on the supply dynamics in single-family housing, contrasting it with the demand for rental properties and condos. Sasha identified policy-driven factors and affordability concerns as contributors to the focus on density and intensification. He underscored the impact of policies on urban boundaries and intensification targets, leading to a shift in housing types.
Greybrook’s venture into U.S. markets, specifically Miami, were discussed, highlighting the key differences in government policies and approval processes, noting lower government-related costs and quicker approval timelines compared to Canadian markets. He emphasized the importance of careful market selection, considering advantages and potential risks.
The conversation concluded with an optimistic outlook for 2024, underscoring Greybrook’s acquisition strategy in Southern Ontario and active asset management approach.
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