Published 2 November 2026 · By Jatin Dua, Broker of Record, RE/MAX Quantum Realty
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Very little is confirmed to launch in Etobicoke in 2027: the GTHA had no new condo launches in the first half of 2026. Completions are falling, from 20,868 in 2026 to a forecast 15,825 in 2027 (Urbanation). Many 2027 closings face appraisal gaps, with Etobicoke condo medians down since 2024.
This guide is for two groups: people thinking about buying a pre-construction condo in Etobicoke in 2027, and people who already signed for one and are waiting to close. It covers what is actually launching, what the closing pipeline looks like, what happens if your unit is now worth less than you paid, and the rules and rebates that matter next year.
Is anything launching in Etobicoke pre-construction in 2027?
Very little is confirmed. New condo launches stopped across the region in 2026. Urbanation, which tracks the new condo market, recorded no new project launches in the Greater Toronto and Hamilton Area (GTHA) in either the first or the second quarter of 2026. Its third-quarter report showed only 60 pre-construction condo sales across the whole GTHA, down 61% from a year earlier.
Buyers have moved to finished product instead. Of the 760 new condos sold in the GTHA in Q3 2026, 648, or 85%, were in buildings that were already complete. Investment groups bought 339 units in bulk, at an average of $763 per square foot, which Urbanation says was about 40% below the original prices in the same buildings.
So when a sales agent says a project is “launching in 2027”, ask what that means: a registration list, a priced release with a disclosure statement you can sign, or just a rendering. In Etobicoke right now, most large sites are at the approval stage, not the sales stage.
Which big Etobicoke sites were approved or proposed recently?
Approval is not a launch date. Each of these sites could take years to reach sales, and plans often change. Here is what reputable sources reported, with the date of each report.
| Site | What was reported | Status at the time | Report date |
|---|---|---|---|
| 1255 The Queensway, at Kipling | Towers of 12 to 65 storeys, 7,360 condominium units | Approved by City Council in July 2026, per UrbanToronto | August 2026 |
| 1025 The Queensway, at Islington | Buildings of 7 to 46 storeys, 4,077 units including 204 affordable rental | Approved by City Council in July 2026, per UrbanToronto | August 2026 |
| 4975 Dundas Street West, Islington City Centre | 44 storeys, 563 market rental units | Approved by City Council in July 2026, per UrbanToronto | August 2026 |
| 1243 Islington Avenue, across from Islington station | 61-storey tower, 719 condominium units | Proposed (rezoning application filed) | November 2025 |
| 3326 Bloor Street West, Islington bus terminal site | Four towers, 32 to 55 storeys | Planned City Housing Now site | November 2025 |
Source: UrbanToronto, City Council July 2026 Etobicoke and North York approvals (4 August 2026) and 61 storeys proposed across Islington station (4 November 2025). Statuses are as reported on those dates and may have changed.
The Queensway and the Islington-Kipling area are where most of Etobicoke’s future condo supply is planned. For every Queensway file and its City status, see my Queensway development pipeline.
What is closing in 2027, and how many new condos will finish?
Fewer than in 2026, and the number keeps dropping after that. Urbanation’s Q3 2026 survey gives these completion figures for the GTHA:
| Year | New condo completions, GTHA |
|---|---|
| 2026 (actual to Q3 plus scheduled Q4) | 20,868 |
| 2027 (forecast) | 15,825 |
| 2028 (forecast) | 12,065 |
| 2029 (forecast) | 4,213 |
Source: Urbanation Q3 2026 Condominium Market Survey, released 19 October 2026. Figures cover the Greater Toronto and Hamilton Area, not Etobicoke alone. Urbanation does not publish an Etobicoke-only figure.
No public body publishes a list of Etobicoke buildings closing in 2027. I would not trust any list that does not cite the builder’s own dates. Public trackers do not always agree: UrbanToronto reported in November 2025 that Westerly Condos and a 26-storey building at 12 Cordova were under construction near Islington station, while its own project database pages show different statuses for those projects. The only reliable date for your unit is the one in your Tarion Statement of Critical Dates, and any notices the builder has sent you since.
The bigger story for 2027 buyers is the drop after 2028. With only 2,696 units started in the first three quarters of 2026, Urbanation warns that the supply pipeline is drying up. That could tighten the market later in the decade. It does not help anyone closing in 2027.
What happens if your Etobicoke pre-construction condo closes for less than you paid?
This is the real issue for many 2027 closings. Resale condo prices in Etobicoke are lower than they were when many of these units were sold.
| Condo apartment median | Jan to Oct 2024 | Jan to Oct 2026 | Change | Active listings, 2026 |
|---|---|---|---|---|
| W06 (Mimico, Humber Bay Shores area, New Toronto, Long Branch) | $666,500 | $607,500 | -8.9% | 246 |
| W08 (Islington-City Centre West and central Etobicoke) | $603,500 | $525,000 | -13.0% | 256 |
| W10 (north Etobicoke) | $540,500 | $401,000 | -25.8% | 79 |
Source: TRREB MLS data via REALM, January to October of each year, median sold prices and active listings, condo apartments. District figures, not building figures. TRREB counts Humber Bay Shores within Mimico (W06).
When you close, your lender lends against the appraised value, not the price you agreed in your contract. If the appraisal comes in low, you cover the difference in cash, on top of your deposit. Your realistic options are:
- Close and hold. Live in it or rent it, and wait. This works only if you can carry the mortgage, the fees and the property tax.
- Bring in more cash or a co-borrower to meet the lender’s limits.
- Try a different lender, or an uninsured or private mortgage. The cost is higher, so get advice first.
- Sell on assignment before closing, if your contract allows it. In this market you may have to accept less than you paid. See my guide to assignment sales in Toronto.
Not closing is the worst option. Your agreement is a binding contract, and walking away can cost you your deposit and expose you to a claim from the builder. Ask your lawyer what your agreement says. If you think you cannot close, speak to your lawyer and your mortgage broker at least six months before your expected final closing, not in the last month.
Condo Valuation
What’s your condo
worth today?
Three quick steps. Condos don’t price like houses — your floor, your view, and whether you own parking move the number more than anything else. This weighs all of them.
Reading recent condo sales…
Estimated market value
—
$0–$0
Most likely $0 · about $0 per square foot
What moved the number
Starting from what comparable units in your area sell for, here’s what your specifics added or subtracted.
Market context
—
—
Two units, same floor plan,
$90,000 apart.
That happens constantly in condos — one has the parking, the right exposure, or a board that keeps the reserve fund healthy. A model can’t see your status certificate. I can.
How do you find out when your Etobicoke condo will actually close?
Read the Tarion Statement of Critical Dates in your agreement and every notice the builder has sent since. Tarion’s condo rules set out how the dates work:
- First Tentative Occupancy Date: the builder’s first estimate of when you can move in.
- Final Tentative Occupancy Date: must be set within 30 days after the roof is completed if the first date cannot be met.
- Firm Occupancy Date: the date the builder commits to. If the builder misses it, delayed occupancy compensation applies.
- Outside Occupancy Date: the latest date allowed. If the unit is not ready by then, you get 30 days to end the agreement.
Delayed occupancy compensation is up to $7,500 in total, including $150 a day for living expenses with no receipts needed. You claim from the builder within 180 days of occupancy, then from Tarion if the builder does not pay. Remember that occupancy is not final closing. You usually pay monthly occupancy fees until the building registers. My explainer on interim occupancy fees shows how they are calculated.
Should you buy pre-construction or a finished condo in Etobicoke in 2027?
| Factor | Pre-construction | Finished unit from a builder | Resale condo |
|---|---|---|---|
| What you see before buying | Plans and renderings | The actual unit | The actual unit and its history |
| Wait to move in | Years | Short | Short |
| Interim occupancy fees | Usually yes | Depends on registration | No |
| Ontario HST rebate (up to $80,000) | Yes, if eligible and signed by 31 March 2027 | Yes, if eligible and signed by 31 March 2027 | No HST on most resales |
| Price risk | Highest: you pay today’s price for a future value | Medium: builders are discounting unsold stock | Lowest: priced off recent sales |
| 10-day right to cancel | Yes, under the Condominium Act | Usually, if bought from the builder (ask your lawyer) | No |
Source: Condominium Act, 1998, s. 73; CRA Notice 346; Tarion condo occupancy rules; Urbanation Q3 2026. General comparison only. Check the terms of any specific agreement with your lawyer.
For most of my clients in 2027, a finished unit beats a pre-construction one in Etobicoke. Builders are discounting completed stock, you can see exactly what you are buying, and you still get the Ontario HST rebate if you are eligible and sign by 31 March 2027. Pre-construction makes sense only if you want a specific location or layout, can wait years, and can close even if values fall further. That is my view, not a forecast. For more on the trade-offs, read pre-construction vs resale condos in Etobicoke.
What rebates and rules apply to a new Etobicoke condo in 2027?
- Ontario enhanced new housing rebate: for agreements signed from 1 April 2026 to 31 March 2027, it can refund the full 8% Ontario part of the HST up to $80,000 on homes up to $1 million, a flat $80,000 up to $1.5 million, and a partial amount up to $1.85 million. The home must be your or a relation’s primary residence. CRA Notice 346 also refers to Ontario’s New Home Affordability Payment of up to $50,000.
- Federal First-Time Home Buyers’ GST rebate: full GST relief on a new home up to $1 million for eligible first-time buyers, phasing out at $1.5 million.
- 10-day right to cancel: a new condo buyer can cancel by written notice within 10 days of the latest of receiving the disclosure statement, the condominium guide and the signed agreement, and get the money back with interest.
- Foreign buyers: Budget 2026, tabled 5 November 2026, proposes exempting new homes from the federal foreign buyer ban. It is a proposal only, and Ontario’s 25% NRST and Toronto’s 10% MNRST still apply to foreign buyers.
What to do next
- If you have already signed, find your Tarion Statement of Critical Dates and write down your firm or outside occupancy date.
- Get a mortgage pre-approval now and ask the lender how it handles an appraisal below the purchase price.
- Compare your contract price with recent resale prices of similar units in the same district.
- If you are buying, compare a finished unit from a builder with a resale unit before you look at pre-construction.
- If you want the HST rebate, have your lawyer confirm eligibility before you sign, and sign by 31 March 2027.
Need help with this? Talk to me.
I’m Jatin Dua, Broker of Record at RE/MAX Quantum Realty, and I’m the best agent to do this kind of work for you in Toronto and across the GTA. Over $100 million in GTA sales and 100+ families helped sell. Feel free to contact me any time: call or text 833-330-1925 or email [email protected].
Frequently asked questions
Are there new pre-construction condos launching in Etobicoke in 2027?
Very few are confirmed as of November 2026. Urbanation recorded no new condo launches in the Greater Toronto and Hamilton Area in the first half of 2026, and only 60 pre-construction sales in Q3. UrbanToronto reported City Council approvals for large Etobicoke sites such as 1255 and 1025 The Queensway in July 2026, but approval is not a sales launch, and no dates are public.
How many condos will be completed in Toronto in 2027?
Urbanation forecasts 15,825 new condo completions across the Greater Toronto and Hamilton Area in 2027, down from 20,868 in 2026, according to its Q3 2026 survey. It expects 12,065 in 2028 and only 4,213 in 2029, because construction starts have fallen sharply. Urbanation does not publish a separate Etobicoke figure.
What happens if my pre-construction condo appraises lower than the purchase price?
You must cover the gap in cash at final closing. Lenders lend against the appraised value, not the contract price. In Etobicoke, condo apartment medians in W08 fell from $603,500 in January to October 2024 to $525,000 in the same months of 2026, per TRREB MLS data via REALM, so shortfalls are common. Talk to your lender and lawyer months before closing.
Is it a good time to buy pre-construction in Etobicoke?
For most buyers, a finished unit is the safer choice in 2027. Builders are discounting completed stock: Urbanation found GTHA bulk buyers paid about 40% below original prices in Q3 2026. Pre-construction suits buyers who want a specific location, can wait years and can close even if values fall. Etobicoke resale condo medians were still falling through October 2026.
Do I get the HST rebate on a new condo in Etobicoke in 2027?
Possibly, if you sign by 31 March 2027. CRA Notice 346 says Ontario’s enhanced new housing rebate covers agreements signed from 1 April 2026 to 31 March 2027, refunding the 8% Ontario part of the HST up to $80,000, for a home that will be your or a relation’s primary residence. Confirm eligibility with your lawyer before signing.
Can I cancel a pre-construction condo in Ontario?
Yes, within 10 days. Section 73 of Ontario’s Condominium Act, 1998 lets a buyer of a new condo from a builder cancel by written notice within 10 days of the latest of receiving the disclosure statement, the condominium guide and the signed agreement. The builder must refund the money with interest. After that period, the agreement is binding.
How much compensation do I get if my condo occupancy is delayed?
Up to $7,500 in total under Tarion’s rules for condominium units. That includes $150 a day for living expenses with no receipts needed, once the builder misses the Firm Occupancy Date. You first claim from the builder within 180 days of occupancy, and then from Tarion if the builder does not pay. Unavoidable delays, such as strikes or fires, can extend dates.
Where is new condo construction planned in Etobicoke?
Mostly along The Queensway and around Islington and Kipling stations. In July 2026, City Council approved large plans for 1255 The Queensway (7,360 condo units) and 1025 The Queensway (4,077 units), plus a 563-unit rental tower at 4975 Dundas Street West, as reported by UrbanToronto. A 61-storey tower was proposed at 1243 Islington Avenue in 2025.
Can foreigners buy pre-construction condos in Etobicoke in 2027?
Only if they fit an exception under current law, such as a work permit holder with at least 183 days left. Budget 2026, tabled 5 November 2026, proposes exempting new homes from the federal foreign buyer ban, but the bill and details were not published. Foreign buyers in Etobicoke would still pay Ontario’s 25% NRST and Toronto’s 10% MNRST.
Sources
- Urbanation: GTHA New Condo Sales Double from a Year Ago in Q3 (19 October 2026)
- Urbanation: GTHA New Condo Sales Increase Over 50% in Q2 (20 July 2026)
- UrbanToronto: City Council July 2026, Etobicoke and North York quick approvals (4 August 2026)
- UrbanToronto: 61 storeys proposed across Islington station (4 November 2025)
- Tarion: Condo units, coverage for occupancy dates, delays and cancellations
- Condominium Act, 1998, s. 73 (Ontario e-Laws)
- GST/HST Info Sheet Notice 346: Ontario enhanced new housing rebate (Canada Revenue Agency)
- Budget 2026, Chapter 3 (Government of Canada)
Related reading
- The Queensway Housing Market in 2027: Condo and House Prices
- Should You Buy a Condo on the Queensway in 2027?
- Selling a Condo on the Queensway in 2027: Pricing and Timing
- Renting on the Queensway in 2027: Condo Rents and Where to Look
About the author — Jatin Dua, Toronto and GTA real estate broker
I am Jatin Dua, Broker of Record and co-founder of RE/MAX Quantum Realty Inc., Brokerage, Unit 101, 799 The Queensway, Toronto. I work with buyers and sellers across Toronto and the GTA and have helped more than 100 families sell. Four-plus years of active GTA transactions and over $100 million in sales volume.
Reach me at [email protected] or 833-330-1925, or book a call.