Meridian Maintains 70% Presale Threshold Amidst Declining Ontario Condo Sales
Meridian is refusing to lower its 70% presale threshold for Ontario condo developers, a decision made as pre-construction sales in the region have fallen by 61%.
Meridian, MS, November 4, 2026 —
Meridian, a financial institution, has decided against lowering its established 70% presale threshold for condominium developers in Ontario. This decision comes at a time when the market for pre-construction sales in the region has experienced a significant downturn.
Reports indicate that pre-construction sales in Ontario have seen a decline of 61%. Despite this sharp decrease in sales activity, Meridian is maintaining its requirement for developers to secure 70% of their units in presale before certain financial arrangements can proceed.
The 70% presale threshold is a common benchmark used by lenders and financial institutions. It is designed to mitigate risk by ensuring a substantial level of buyer commitment and market demand before a developer incurs further significant costs or draws down substantial project financing. For developers, meeting this threshold is often a critical step in securing the necessary capital to move a project from the planning and sales phase into construction.
The current market conditions, characterized by a 61% drop in pre-construction sales, present considerable challenges for developers aiming to reach this 70% target. The reasons behind Meridian’s adherence to the existing threshold were not detailed in the available information. Similarly, the specific timeline or duration of this market decline was not provided.
The contractor’s name was not provided. The decision by Meridian could impact the ability of some developers to launch or continue with new condominium projects in Ontario, potentially affecting housing supply and the broader real estate development sector. The full implications of Meridian’s stance on the Ontario condominium market remain to be seen as developers navigate the current sales environment.
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