StoryLine by CondoNow https://condonow.com/learn Investor Info, New Launches & Much More Fri, 20 Jul 2018 19:00:18 +0000 en-CA hourly 1 Top 10 Real Estate News Stories From July 9 – 22, 2018 https://condonow.com/learn/top-10-real-estate-news-stories-from-july-9-22-2018/ https://condonow.com/learn/top-10-real-estate-news-stories-from-july-9-22-2018/#respond Fri, 20 Jul 2018 18:00:36 +0000 https://condonow.com/learn/?p=1986 Our CondoNow experts have narrowed down the top 10 real estate news stories from July 9 – 22, 2018. More condos than ever before are coming to the Toronto real estate market, CMHC makes obtaining a mortgage easier for the self-employed and more top news! Toronto Hits A Multi-Year Record For New Condos Under Construction …

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Our CondoNow experts have narrowed down the top 10 real estate news stories from July 9 – 22, 2018.

More condos than ever before are coming to the Toronto real estate market, CMHC makes obtaining a mortgage easier for the self-employed and more top news!

Toronto Hits A Multi-Year Record For New Condos Under Construction

Toronto real estate is about to get a whole lot of supply. Canada Mortgage and Housing Corporation (CMHC) numbers show Toronto CMA is just under the all-time high for homes under construction. Over 3 out of 4 of those units under constructions are condo apartments.
Full Story on BetterDwelling.com

 

CMHC Looks to Make it Easier for Self-Employed to Obtain a Mortgage

Canada Mortgage and Housing Corp. is making changes intended to make it easier for the self-employed to qualify for a mortgage.
Full Story on CTVNews.ca

 

 

 

Rents continue their rapid rise in Toronto-area condominium leases in the second quarter of 2018, according to new data.
Full Story on TheGlobeandMail.com

 

 

 

Bank of Canada Hikes Rate, What It Means for Canadians

The Bank of Canada, as expected, raised its trend setting interest rate 0.25 per cent to 1.5 per cent. It is really an indication that the Canadian economy is doing well.
Full Story on CityNews.ca

 

 

 

It’s Not Just Condos — Toronto is Also Running Out of Commercial Real Estate

Canada is not just running out of residential real estate in its key markets — the country’s commercial and industrial real estate is also filling up fast.
Full Story on FinancialPost.com

 

 

 

Toronto’s PATH network contains hundreds of shops along its 30 mostly underground kilometres, but some say getting lost is common. Eric Rotberg developed the website Pathmap.ca to help people navigate where GPS doesn’t work.
Full Story on TheGlobeandMail.com

 

 

Toronto Condo Starts hit 30-Year High: CMHC

Canadian housing starts surged in June to one of the highest levels over the past decade, driven by new condominium developments in Toronto that reached a 30-year high for the month.
Full Story on BNNBloomberg.ca

 

 

 

Priced Out of the Market: Why Homebuyers are Moving to Ottawa

The dream of owning a home has some Toronto and Vancouver residents turning to Ottawa.
Full Story on CTVNews.ca

 

 

 

Beware the HST Rebate Rules

Are you buying a new home or condominium unit with another person? If so, there is an interesting and probably little-known rule about the HST New Housing Rebate that may surprise you – and more importantly may disqualify you from obtaining the rebate entirely.
Full Story on REMOnline.com

 

 

 

Two New Parks Are Coming To Toronto’s Waterfront And You Can Actually Choose How You Want Them To Look

A six-week design competition is underway for York Street Park and Rees Street Park in Toronto’s waterfront district.
Full Story on Narcity.com

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Top 10 Real Estate News Stories From June 25 – July 8, 2018 https://condonow.com/learn/top-10-real-estate-news-stories-from-june-25-july-8-2018/ https://condonow.com/learn/top-10-real-estate-news-stories-from-june-25-july-8-2018/#respond Fri, 06 Jul 2018 17:58:27 +0000 https://condonow.com/learn/?p=1972 Our CondoNow experts have narrowed down the top 10 real estate news stories from June 25 – July 8, 2018. The cost of homeownership in Vancouver hits “crisis levels”, Toronto demands mid-rise housing and Sidewalk Toronto’s plan deadline pushed back to Spring 2019. We’ve cultivated a list of the top 10 stories. Here’s the latest …

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Our CondoNow experts have narrowed down the top 10 real estate news stories from June 25 – July 8, 2018.

The cost of homeownership in Vancouver hits “crisis levels”, Toronto demands mid-rise housing and Sidewalk Toronto’s plan deadline pushed back to Spring 2019. We’ve cultivated a list of the top 10 stories. Here’s the latest news!

The Cost of Owning a Home in Vancouver (88% of income) Has Hit Crisis Levels

The share of household income required to cover mortgage payments, property taxes and utilities in the Greater Vancouver Area reached a record high of 87.8 per cent in the first quarter, rising 1.5 percentage points from the fourth quarter and up 9.5 per cent from the prior year.
Full Story on FinancialPost.com

 

Builders in Toronto are facing something of a dilemma: Residents want fewer high-rises and planners are making available more sites suitable for more compact buildings, but costs are making mid-rise residential properties exceptionally expensive to construct.
Full Story on TheGlobeandMail.com

 

 

Deadline for ‘Sidewalk Toronto’ Plan Pushed Back

A waterfront advocate is relieved Waterfront Toronto and Sidewalk Labs are extending their timeline to develop a proposal for a high-tech waterfront neighbourhood.
Full Story on MSN.com

 

 

 

Toronto Home Sales Jump Most Since 2004 as Buyers Return to Market

Toronto home sales jumped the most in more than a decade last month, a sign that Canada’s biggest housing market is rebounding from the chill brought on by tighter lending regulations and higher borrowing costs in the past few months.
Full Story on FinancialPost.com

 

 

Foreign Buyers Perceived to Influence Real Estate Prices, Despite Data: CMHC

Foreign buyers might make up a small sliver of Canada’s biggest real estate markets, but homebuyers in Toronto, Vancouver and Montreal still believe they are heavily influencing housing activity.
Full Story on CTVNews.ca

 

 

The corner of Front Street West and Spadina used to feel like the Western outback, alone and removed, even if only a few blocks from Toronto’s downtown core, facing noisy commuter rail lines.
Full Story on TheGlobeandMail.com

 

 

 

Midtown West Perfect for Certain Kind of Investor

The west side of Midtown Toronto is experiencing rebirth—and promises opportunity for the right kind of investor.
Full Story on CanadianRealEstateMagazine.ca

 

 

 

Unit Flexibility and Lakeside Living

A planned 25-year buildout in what will become a new neighbourhood—and a sprawling one at that—the biggest real estate developers in the city are building towers in the East Bayfront Precinct.
Full Story on CanadianRealEstateMagazine.com

 

 

 

One Delisle is a 522-ft-tall tower with 263 residences that Slate Asset Management is proposing to build on one of 10 properties it has bought in midtown Toronto.
Full Story on BDCNetwork.com

 

 

 

Don’t Blame Real Estate Investors for Rental Market Woes

Haider-Moranis Bulletin: A deep-dive into Toronto housing data should dispel some myths that have fuelled disdain for investors who make renting possible.
Full Story on FinancialPost.com

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Top 10 Real Estate News Stories From June 11 – 24, 2018 https://condonow.com/learn/top-10-real-estate-news-stories-from-june-11-24-2018/ https://condonow.com/learn/top-10-real-estate-news-stories-from-june-11-24-2018/#respond Sun, 24 Jun 2018 04:29:45 +0000 https://condonow.com/learn/?p=1963 Our CondoNow experts have narrowed down the top 10 real estate news stories from June 11 – 24, 2018. A new CIBC poll says 47 per cent of millennial homeowners are landlords, B.C. government to create a public real estate registry to crack down on tax avoidance and Waterfront Shores’ Pier 8 could easily become …

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Our CondoNow experts have narrowed down the top 10 real estate news stories from June 11 – 24, 2018.

A new CIBC poll says 47 per cent of millennial homeowners are landlords, B.C. government to create a public real estate registry to crack down on tax avoidance and Waterfront Shores’ Pier 8 could easily become Hamilton’s hottest real estate. We’ve cultivated a list of the top 10 stories. Here’s the latest news!

Millennials Become Landlords to Reach Housing Goals

A new CIBC poll says Canadians who own a rental property earn about $2,189/month – 50 per cent more than their monthly costs – and those who rent out space in their home offset their housing costs by 70 per cent.
Full Story on REMOnline.com

 

B.C. Government Will Create Public Registry to Reveal Who Owns Real Estate

In an effort to crack down on tax avoidance, the B.C. government will create a public registry to show who owns real estate in the province.
Full Story on TheStar.com

 

 

 

Waterfront Development Expects to Attract Strong Interest, Have Low Maintenance Fees

The City of Hamilton has approved a plan to rejuvenate its waterfront with a massive mixed-use development, joining similar initiatives by other municipalities as far east as Toronto.
Full Story on CanadianRealEstateMagazine.ca

 

 

Mixed-Use Urban Real Estate Project Blurs the Line Between Working and Living

Ed Sonshine, chief executive officer at RioCan REIT, discusses a joint development with Allied Properties to build a new mixed-use urban real estate project that blurs the lines between working and living, and why it will be an oasis in an urban jungle.
Full Story on BNNBloomberg.ca

 

 

Gehry Condo Developers Great Gulf Group Forge Ahead as Market Cools

Great Gulf Group is well aware it’s forging ahead with one of Canada’s ritziest condo projects in a market that appears to be cooling. In fact, it’s bracing for the possibility.
Full Story on TheStar.com

 

 

Canadian Mortgage Borrowing Drops to Lowest Level Since 2014

Mortgage activity in Canada has dropped to the lowest level since 2014, falling by $2 billion to $13.7 billion in the first three months of the year, according to Statistics Canada data released Thursday.
Full Story on BNNBloomberg.com

 

 

 

OREA Laments Rejection of Cannabis Recommendation

The legalization of recreational cannabis came along with the dismissal of a Senate recommendation that would have given provinces the power to restrict the growing of marijuana on residential properties.
Full Story on MortgageBrokerNews.ca

 

 

 

As of June 15, B.C. Real Estate Agents Are No Longer Allowed to Represent Buyer and Seller at the Same Time

Real estate agents in B.C. say they are not ready and may risk significant financial penalties when new rules are implemented prohibiting “dual agency,” the practice where an agent represents both a buyer and a seller.
Full Story on TheStar.com

 

 

 

Credit Market U-Turn: As Bond Yields Retreat, Variable Mortgages Are Looking All the More Attractive

Just five weeks ago, economists were on TV heralding a July rate hike as interest rates rocketed to seven-year highs.
Then the market changed the channel.
Full Story on TheGlobeAndMail.com

 

 

Current Price Correction in Ontario Not Similar to Previous Bust Periods – CMHC

It’s been more than five months since the roll-out of new mortgage rules that forced even homebuyers with a larger downpayment to undergo a financial stress test. A lot has happened since then.
Full Story on MortgageBrokerNews.ca

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Top 10 Real Estate News Stories From May 28 – Jun. 10, 2018 https://condonow.com/learn/top-10-real-estate-news-stories-from-may-28-jun-10-2018/ https://condonow.com/learn/top-10-real-estate-news-stories-from-may-28-jun-10-2018/#respond Sun, 10 Jun 2018 03:22:38 +0000 https://condonow.com/learn/?p=1952 Our CondoNow experts have narrowed down the top 10 real estate news stories from May 28 – Jun. 10, 2018. A developer, an economist and an agent discuss the state of the condo market, new Toronto condo restricts smoking with one exception, and Toronto’s rising rents are infectious. We’ve cultivated a list of the top …

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Our CondoNow experts have narrowed down the top 10 real estate news stories from May 28 – Jun. 10, 2018.

A developer, an economist and an agent discuss the state of the condo market, new Toronto condo restricts smoking with one exception, and Toronto’s rising rents are infectious. We’ve cultivated a list of the top 10 stories. Here’s the latest news!

SKY HIGH: A Real Estate Roundtable on the State of The Condo Market

With most houses in the GTA out of reach, condos have become the new starter home, the downsizer’s destination and a great investment for overseas buyers. But how do you pick? New, old or not yet built? And when’s the right time to invest?
Full Story on TorontoLife.com

 

Toronto is Getting Its First Smoke-Free Condo

Located at Lawrence and Weston, the 22-storey building will restrict tobacco and cannabis smoking in all areas – but vaping is allowed.
Full Story on NowToronto.com

 

 

The Cost of Rent is Rising Fast in Toronto’s Neighbouring Cities

High rents aren’t just a Toronto problem. Pricey monthly payments, a feature of downtown living, are leaking into the suburbs and beyond, experts say.
Full Story on TheStar.com

 

 

 

As Housing Affordability Erodes, Millennials Forced to Get Creative to Buy That First Home

Millennials are cobbling together different ways to make down payments, settling for alternative housing options or sending letters to sellers when making an offer.
Full Story on FinancialPost.com

 

 

Greater Toronto Real Estate Prices Are Down 5%, Sales Drop Over 20%

Toronto real estate prices are split on where they should be heading. Toronto Real Estate Board (TREB) numbers show prices fell in May, but the city remained positive. The softer prices were largely due to declining sales, leaving more inventory unabsorbed.
Full Story on BetterDwelling.com

 

 

Rogers Family Foray into Real Estate Not Shaken by Market Volatility

A cooling property market in Canada’s largest city is not holding back one of the country’s richest families from pushing ahead with $1.5 billion multi-condo development in Mississauga, Ontario.
Full Story on BNNBloomberg.ca

 

 

Mixed-Use Condo Developer on the Hook for Plans at Former Hogtown Abattoir

On a helicopter tour of some of his Toronto projects this spring, Mazyar Mortazavi, principal of TAS, suggested that this birds-eye view provided a sense of perspective on Toronto’s constant debates about low-rise versus high-rise buildings.
Full Story on TheGlobeandMail.com

 

 

GTA Voters Say They Want Land Transfer Tax Gone As Home Sales Dip

A majority of voters in the Greater Toronto Area say they want Ontario’s next government to do away with the province’s land transfer tax, according to a poll.
Full Story on CTVNews.ca

 

 

 

Homebuyers Inflating Income on Mortgage Applications, Study Says, But Don’t Blame the Brokers

Haider Moranis Bulletin: A study found an increase in housing prices increased the incidence of homebuyers exaggerating their incomes on loan applications.
Full Story on FinancialPost.com

 

 

Why Aren’t Home Prices Falling? Home Sellers Won’t Have It

It’s been more than five months since the roll-out of new mortgage rules that forced even homebuyers with a larger downpayment to undergo a financial stress test. A lot has happened since then.
Full Story on GlobalNews.ca

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Why Ottawa is Canada’s Ripest City For Investment https://condonow.com/learn/why-ottawa-is-canadas-ripest-city-for-investment/ https://condonow.com/learn/why-ottawa-is-canadas-ripest-city-for-investment/#comments Sat, 26 May 2018 20:07:57 +0000 https://condonow.com/learn/?p=1935 With a booming tech industry, increasing population density, low unemployment rates and major neighbourhood and infrastructure rejuvenation projects underway, Ottawa is Canada’s ripest city for investment. The city’s landscape is going through a metamorphosis with new high-rise condo developments, one of the country’s strongest startup and tech industries and a new 2.1 billion dollar LRT …

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With a booming tech industry, increasing population density, low unemployment rates and major neighbourhood and infrastructure rejuvenation projects underway, Ottawa is Canada’s ripest city for investment.

The city’s landscape is going through a metamorphosis with new high-rise condo developments, one of the country’s strongest startup and tech industries and a new 2.1 billion dollar LRT transit system. Because of this, investors are starting to gravitate towards the capital city.

The influx of young people and newcomers to the Ottawa area is the main reason for the new 13-stop LRT line which will open its first extension in November of this year. The LRT is also spurring new office development and higher property values around stations.

Image Source: Ottawacitizen.com

Condo sales were up 20 per cent in 2017 and this year has also seen a consistent rise as well – one of Ottawa’s most sought-after projects is 1451 Wellington by Mizrahi Developments. Located at the junction of two of the city’s trendiest neighbourhoods, Wellington West and Westboro, 1451 Wellington is a boutique condominium of just 93 units, designed with a superior standard of interior finishes and five-star hotel-like amenities.

Recent numbers released by the Ottawa Real Estate Board show house prices in Westboro have skyrocketed by over fifty per cent, and bidding wars are breaking out across the city.

“Ottawa is on the cusp of a major transformation,” said Sam Mizrahi President of Mizrahi Developments. “Ottawa is also a very vibrant and stable city. It’s really the place to invest over the next five years in terms of getting really good returns with a much lower cost of entry. You are coming in at a price with very good metrics, with similar rents and revenue, compared to Toronto or any other international city.”

Additional transformation will come by way of the world’s largest retailer, Amazon, who just this week began work on a massive distribution centre set to bring 1,000 jobs to the city’s already healthy job market. Ottawa’s robust employment opportunities in Government, The City of Ottawa and the booming tech sector has attracted families moving from other urban centres. This spike in housing demand has created a ‘listings-starved market’ where statistics show an all-time low vacancy rate of below 2%. Figures from the Ottawa Real Estate Board show that inventories are selling as soon as they come on the market. On average, properties are moving as fast as 11 days, compared to last year and foreign buyers are taking heed.

Ottawa has replaced Toronto as the market with the highest foreign investors according to new RBC research. “Between November 2017 and February 2018, just 2.1 per cent of Toronto property transactions involved foreign buyers, compared to 2.5 per cent in Ottawa”, reads the report. This is largely due to the 15% Foreign Buyers Tax that hit Toronto and the Greater Golden Horseshoe area last year. This tax does not apply to Ottawa.

The nation’s dynamic capital is the best-kept secret no longer. A stable job market, reasonable cost per square foot to buy in proportion to income and growing infrastructure are trends continuing in 2018. The stars are aligning and it is the perfect time to invest in Ottawa.

Here are some shots of Ottawa courtesy of Mizrahi Developments.

Thinking of investing in a condo in Ottawa? Take a look at this pre-construction project.

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Exclusive Sneak Peek: Sam Mizrahi’s 1451 Wellington Condos Ottawa https://condonow.com/learn/exclusive-sam-mizrahi-discusses-1451-wellington-ottawa/ https://condonow.com/learn/exclusive-sam-mizrahi-discusses-1451-wellington-ottawa/#respond Thu, 17 May 2018 22:38:28 +0000 https://condonow.com/learn/?p=1927   Just days away from Toronto’s official launch of 1451 Wellington Condos, we had the privilege to sit down with Sam Mizrahi, President of Mizrahi Developments, to discuss his next major project. It’s no secret that Ottawa is the hottest real estate market right now and Mizrahi Developments is set to bring an iconic boutique condominium …

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Just days away from Toronto’s official launch of 1451 Wellington Condos, we had the privilege to sit down with Sam Mizrahi, President of Mizrahi Developments, to discuss his next major project.

It’s no secret that Ottawa is the hottest real estate market right now and Mizrahi Developments is set to bring an iconic boutique condominium to the vibrant Westboro neighbourhood.

Here’s an exclusive sneak peek as Mizrahi gives us insight, in his words, “Why Ottawa?”

 

Full-length video down below.

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Top 10 Real Estate News Stories From Apr. 30 – May 13, 2018 https://condonow.com/learn/top-10-real-estate-news-stories-from-apr-30-may-13-2018/ https://condonow.com/learn/top-10-real-estate-news-stories-from-apr-30-may-13-2018/#respond Fri, 11 May 2018 21:11:43 +0000 https://condonow.com/learn/?p=1918 Our CondoNow experts have narrowed down the top 10 real estate news stories from April 30 – May 13, 2018. BMO woos homebuyers as mortgage wars heat up, downsizers expected to boost Toronto’s luxury condo prices, and Ottawa’s rental shortage attracts savvy investors. We’ve cultivated a list of the top 10 stories. Here’s the latest …

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Our CondoNow experts have narrowed down the top 10 real estate news stories from April 30 – May 13, 2018.

BMO woos homebuyers as mortgage wars heat up, downsizers expected to boost Toronto’s luxury condo prices, and Ottawa’s rental shortage attracts savvy investors. We’ve cultivated a list of the top 10 stories. Here’s the latest news!

BMO Offers Record Variable Discount as Mortgage Wars Heat Up

Bank of Montreal is wooing homebuyers with a variable mortgage rate with the biggest discount ever by a large Canadian bank, according to one market watcher.
Full Story on BNNBloomberg.com

 

High-End Home Sales Hit By New Rules: Report

New stress tests, higher rates and the foreign buyers’ tax have rippled into the top of the housing market. But condos are predicted to gain ground.
Full Story on TheStar.com

 

 

 

Unlikely Canadian City Attracting Foreign Buyers

Ottawa is experiencing a rental shortage, and savvy foreign investors are swooping in.
Full Story on CanadianRealEstateMagazine.ca

 

 

 

Boomers Or Millennials: Who Had it Tougher in the Toronto Housing Market?

The plight of the millennial Toronto home buyer has been a turbulent one; for this generation, the search for the perfect abode has been defined by downsized expectations, sky-high prices and steep competition.
Full Story on RemOnline.com

 

 

Aquabella by Tridel Project of the Year

The number of homes sold to foreign buyers in Toronto has dropped steadily over the year since the province introduced a 15-percent tax on such purchases, falling from 7.2 percent of sales in May, 2017, to.
Full Story on TheGlobeandMail.com

 

 

Whistler Tops Vancouver as Canada’s Craziest Real Estate Market

The soaring cost of living is the dark underbelly of Whistler’s growing popularity as a four-season destination.
Full Story on TheStar.com

 

 

 

Coveted Amenity a Blessing for Investors

Buying an investment property near a school is one of the surest ways to maximize returns on investments.
Full Story on CanadianRealEstateMagazine.ca

 

 

 

Renewing Your Mortgage? Doing Your Homework Could Save You Thousands of Dollars

 

 

 

Two Toronto Buildings Just Won Governor-General’s Medals In Architecture

The 2018 Governor-General’s Medals in Architecture honour outstanding buildings across Canada. The winning projects are celebrated for their commitment to natural materials, clean design, and craftsmanship.
Full Story on TorontoStoreys.com

 

 

Montreal Home Sales Continue to Climb in Hot Market

Condominiums median price up 2% compared to last year, half of all units selling for more than $245,350.
Full Story on CBC.ca

 

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Top 10 Real Estate News Stories From Apr. 16 – 29, 2018 https://condonow.com/learn/top-10-real-estate-news-stories-from-apr-16-29-2018/ https://condonow.com/learn/top-10-real-estate-news-stories-from-apr-16-29-2018/#respond Sun, 29 Apr 2018 03:31:20 +0000 https://condonow.com/learn/?p=1906 Our CondoNow experts have narrowed down the top 10 real estate news stories from April 16 – 29, 2018. The numbers are in and Canada had the biggest Q4 ever, electric car chargers become a condo requirement, and the mortgage rate sees the ‘biggest move in years’. We’ve cultivated a list of the top 10 …

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Our CondoNow experts have narrowed down the top 10 real estate news stories from April 16 – 29, 2018.

The numbers are in and Canada had the biggest Q4 ever, electric car chargers become a condo requirement, and the mortgage rate sees the ‘biggest move in years’. We’ve cultivated a list of the top 10 stories. Here’s the latest news!

Canadian Residential Real Estate Investment Had The Biggest Q4 Ever

For better or worse, real estate is one of the most important drivers of the Canadian economy. Residential structure investment, the amount of capital deployed for building new housing, reached one of the highest ratios against Gross Domestic Product (GDP) ever.
Full Story on BetterDwelling.com

 

 

New Rules Hope to Jolt Condo Boards to Install Electric Car Chargers

New provincial regulations are designed to make it easier for the growing number of condo dwellers to own electric cars by encouraging the installation of charging stations in parking areas.
Full Story on TheStar.com

 

 

 

Toronto-Dominion Bank Lifts Mortgage Rate in ‘biggest move in years,’ RBC Follows Suit

Toronto-Dominion Bank has lifted its posted rate for five-year fixed mortgages by 45 basis points to 5.59 per cent as government bond yields touched their highest levels since 2011 this week.
Full Story on FinancialPost.com

 

 

 

With Graduation Season in Full Force, Travellers Turn to Airbnb

Toronto is home to innumerable international students and graduation season is upon us, but hotel room prices in the city are exorbitant. With graduation season in full force, travellers turn to Airbnb.
Full Story on CanadianRealEstateMagazine.ca

 

 

 

B.C.’s Condo-Flipping Crackdown Law Targets Tax Evasion to Keep Down Prices

British Columbia’s government wants to crack down on tax evasion in the condominium market and gives municipalities more control over rental housing as it looks for ways of easing a housing crunch.
Full Story on BNN.ca

 

 

 

US Federal Reserve Indicators Show Canadian Real Estate Buyers Still “Exuberant”

Canadians are still overly enthusiastic about real estate prices. Indicators show buyers actually became more irrational in the prices paid in the fourth quarter of 2017. Analysts from the reserve bank warn prices are still overheated across the country.
Full Story on BetterDwelling.com

 

 

 

Last Resort Lender Keeping Canadian Home Buying Dreams Alive

Alternative lenders are playing a growing role in Canada’s real estate market as the industry searches for new sources of financing, risk-averse banks become more picky and investors look for yield.
Full Story on TheStar.com

 

 

 

Calgary Comes Last in Moneysense Ranking of Best Cities for Real Estate Investment

 

 

 

Are Variable Mortgage Rates Still the Best Choice for Saving on Interest?

Variable rates have long been a favourite option for mortgage nerds. In part, that’s because of a 2001 study showing that Canadian mortgage holders would have been better off almost 90 per cent of the time with a variable rather than fixed rates between 1950 and 2000.
Full Story on GlobalNews.ca

 

 

 

Allied Properties REIT Plans to Spend $1 Billion to Meet Toronto Tech Office Demand

Allied aims to issue 10-year bonds in Canada, likely in the $200 million range, to help fund its The Well project, 1.6 million square feet of office and retail space.
Full Story on FinancialPost.com

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Top 10 Real Estate News Stories From Mar. 25 – Apr. 15, 2018 https://condonow.com/learn/top-10-real-estate-news-stories-from-mar-25-april-15-2018/ https://condonow.com/learn/top-10-real-estate-news-stories-from-mar-25-april-15-2018/#respond Fri, 13 Apr 2018 21:52:25 +0000 https://condonow.com/learn/?p=1892 Our CondoNow experts have narrowed down the top 10 real estate news stories from Mar. 25 –  April 15, 2018. Sidewalk Labs’ Chief Exec explains why his company’s world-leading smart community is coming to Toronto’s waterfront, a new study sheds some light on Toronto’s biggest real estate investors and Millennials heat up the Condo market. …

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Our CondoNow experts have narrowed down the top 10 real estate news stories from Mar. 25 –  April 15, 2018.

Sidewalk Labs’ Chief Exec explains why his company’s world-leading smart community is coming to Toronto’s waterfront, a new study sheds some light on Toronto’s biggest real estate investors and Millennials heat up the Condo market. We’ve cultivated a list of the top 10 stories. Here’s the latest news!

Q&A: Dan Doctoroff on Building the Neighbourhood of Tomorrow

Your company, Sidewalk, which is owned by Alphabet, has kicked up quite the fuss since rolling into town last year. Please explain, for the uninitiated, what your project is all about.
Full Story on TorontoLife.com

Toronto’s Tale of Two Markets Is Hot Condos and Cold Houses

It’s a tale of two housing markets in the Toronto area as Canada’s biggest city gears up for the crucial spring selling season: sales of big detached homes are slow, while condo deals are booming.
Full Story on Bloomberg.com

 

 

 

Who Are The Condo Investors in Toronto? A New Study Sheds Some Light

A study, called A Window Into the World of Condo Investors, found that only about 10 per cent of condo investors are international buyers.
Full Story on Toronto.com

 

 

 

Toronto Developers Hope to Build a Better Townhouse

When developers Daniels and Diamond Corp. began looking at a large development site on Sheppard Avenue East, near Markham Road, in the northeastern reaches of Toronto a few years ago, the two firms could have gone high, as most builders choose to do in this market.
Full Story on TheGlobeandMail.com

 

 

Millennials Help Heat Up Toronto Market (With Help From ‘Bank Of Family’)

Compared to last year, home prices are 12 per cent lower, with single-family houses continuing to drop. Condos, on the other hand, are posting rising gains consistently. Millennials, however, helped somewhat to heat things up.
Full Story on TorontoStoreys.com

 

 

 

EXCLUSIVE: Prime Minister Justin Trudeau Talks Toronto Real Estate

While the Liberal government has identified affordable housing as a “substantial” issue and directed some $40 billion towards a National Housing Strategy, the question remains whether that money is flowing quickly enough.
Full Story on TorontoStoreys.com

 

 

 

Move Over, Toronto and Vancouver: Montreal is Poised to Become New Capital of Luxury Real Estate

Calgary and Montreal are on track to eclipse Toronto and Vancouver as Canada’s fastest growing luxury real estate market this year as rising consumer confidence boosts demand for homes over $1 million.
Full Story on FinancialPost.com

 

 

Parkside Village Master-PlanCondo Renters in Toronto, Get Ready to Write a Bigger Check

Finding a condo to rent in Toronto is tough enough — paying for it has just gotten a lot harder. Part of the reason is simple, supply and demand: Workers are flowing to Toronto for its booming tech and financial-services industries and competing for a scarcity of available units.
Full Story on Bloomberg.com

 

 

OREA Urges More Stringent Rules for Former Grow-ops

The organization representing Ontario’s real estate agents is calling for stronger rules to protect home buyers against the risks involved in purchasing a former grow-op, a situation it argued will increase once cannabis is legalized later this year.
Full Story on CanadianRealEstateMagazine.com

 

 

Experts Predicted A Mortgage Boom At Canadian Credit Unions. That Isn’t Happening

The Canadian real estate industry didn’t worry when banks announced they would be stress testing mortgages. Instead, many mortgage brokers boasted that borrowers would just go to credit unions, since they weren’t subject to the same rules. numbers show that isn’t the case.
Full Story on BetterDwelling.com

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King West Market Report https://condonow.com/learn/king-west-market-report/ https://condonow.com/learn/king-west-market-report/#respond Thu, 22 Mar 2018 14:22:00 +0000 https://condonow.com/learn/?p=1878 Playground Condos by Cityzen is coming to trendy King West very soon and there is already tremendous interest. Expecting some very good pricing and incentives for this launch, we are giving you the very first opportunity to make an informed decision! Why King West? The Technology revolution in Toronto is booming, representing about 1 in …

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Playground Condos by Cityzen is coming to trendy King West very soon and there is already tremendous interest. Expecting some very good pricing and incentives for this launch, we are giving you the very first opportunity to make an informed decision!

Why King West? The Technology revolution in Toronto is booming, representing about 1 in every 7 jobs and 2X the Canadian technology employment growth. King West has been targeted as the place to be for technology-focused companies. Companies like Uber, Twitter, eBay, Paypal, Kijiji and many more are in King West right now!

Global technology employees searching for work and living accommodation see the cost of living in Toronto is cheaper than tech hubs like San Francisco and New York and the quality of life and amenities here are better or equal to those cities. All this makes Toronto the fastest growing tech market in North America!

Canada will welcome nearly one million immigrants over the next three years. This will continue to support demand for developments like Playground Condos and others just like it in King West. For example, two new developments in this neighbourhood are Zen King West by Centrecourt and Kingly by RioCan. Pricing at Zen King West was approximately $850-$950 per square foot, and pricing at Kingly was approximately $900-$1000 per square foot. Kingly is now SOLD OUT and there is limited Sky Suite availability at Zen King West.

In the resale condo market, recent neighbourhood transactions show selling prices in the

  • $700 – $1000 per square foot range.
  • Resale prices increased 57% in the past 5 years (9.44% p.a. compound growth)

Recent lease transactions for condos in this area are as follows:

  • Studio $1600
  • 1 bedroom $1,800 – $2,000
  • 1 bedroom and den $2,100 – $2,300
  • 2 bedroom $2,500 and up, and increasing!
  • Rents have increased over 33% in the past 5 years (6% p.a. compound growth)

Playground Condos is already under construction and will be perfectly located in a prime tech demographic with many employers dedicated to fostering technology growth in Toronto.

  • This makes it a perfect area to buy an investment condo.
  • High Wages, High Rents and a significant growth area.

Register with us for a personalized investment analysis to learn much more about Playground Condos and be among the first to get pricing and floor plans.

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Top 10 Real Estate News Stories From Mar. 5 – 18, 2018 https://condonow.com/learn/top-10-real-estate-news-stories-from-mar-5-18-2018/ https://condonow.com/learn/top-10-real-estate-news-stories-from-mar-5-18-2018/#respond Fri, 16 Mar 2018 21:39:51 +0000 https://condonow.com/learn/?p=1868 Our CondoNow experts have narrowed down the top 10 real estate news stories from Mar. 5 – 18, 2018. From RBC Chief Executive’s stance on foreign cash in the Canadian housing market to B.C. introducing an anonymous ‘Realtor tip line’, to high-end home sales plummeting even as prices nudge up, we’ve cultivated a list of …

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Our CondoNow experts have narrowed down the top 10 real estate news stories from Mar. 5 – 18, 2018.

From RBC Chief Executive’s stance on foreign cash in the Canadian housing market to B.C. introducing an anonymous ‘Realtor tip line’, to high-end home sales plummeting even as prices nudge up, we’ve cultivated a list of the top 10 stories. Here’s the latest news!

RBC Chief Sounds Alarm on Flood of Foreign Cash in Canadian Real Estate

Toronto, Canada’s biggest housing market, has been correcting over the past few months amid a slew of regulations put in place to steady booming prices and increasing debt.
Full Story on Bloomberg.com

End-Users Flooding Condo Market to Detriment of Renters

The new mortgage rules have redirected Toronto’s would-be low-rise home buyers to the condo market…deterring condo investors from purchasing units renters desperately rely on.
Full Story on CanadianRealEstateMagazine.ca

 

 

There’s a riddle at the centre of Toronto’s housing affordability crisis: What is causing huge chunks of the city to lose population at the same time as the overall population is booming? The answer…
Full Story on TheGlobeandMail.com

 

 

Toronto Condo Owner Discovers Unit Listed on Airbnb Behind Her Back — With More Than 70 Reviews

Units rented out without owners’ consent can violate condo, tenant legislation, experts say.
Full Story on CBC.ca

 

 

How Rampant Development and Poor Planning Left Residents of This Etobicoke Neighbourhood Stuck in Traffic

The Etobicoke neighbourhood of Humber Bay Shores has undergone rapid development in the past two decades, but transit infrastructure hasn’t come with it.
Full Story on TheStar.com

 

 

B.C. Sets Up Anonymous Tip Line For Reporting Shady Real Estate Agents

B.C. has created an anonymous tip line so consumers — and fellow agents — can report shady real estate agents to the provincial regulator.
Full Story on CBC.ca

 

 

 

A woman who failed to disclose to the buyer of her house the shooting death of her son-in-law outside the family’s Vancouver home has lost a lawsuit she filed against the purchaser.
Full Story on The GlobeAndMail.com

 

 

Waterloo Region Among Best Real Estate Markets For Investment: Report

The Real Estate Investment Network has ranked the region as the second-best community for real estate investment in Ontario, behind only Ottawa.
Full Story on CTVNews.ca

 

 

 

Investing in Ontario Real Estate? These Cities Are The Best Bets

A new report from independent research think-tank Real Estate Investment Network (REIN) ranked Ontario’s largest metropolitan areas in terms of real estate market performance and suitability for investment over the next 5 years.
Full Story on MortgageBrokerNews.ca

 

 

Luxury Home Sales Plummet 58% in Toronto as High-End Sector Hit Hardest in Slump

But prices did inch up to a cool $4,201,873.
Full Story on FinancialPost.com

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Top 10 Real Estate News Stories From Feb. 19 – Mar. 4, 2018 https://condonow.com/learn/top-10-real-estate-news-stories-feb-19-mar-4-2018/ https://condonow.com/learn/top-10-real-estate-news-stories-feb-19-mar-4-2018/#respond Thu, 01 Mar 2018 15:55:09 +0000 https://condonow.com/learn/?p=1849 Our CondoNow experts have narrowed down the top 10 real estate news stories from Feb. 19 – Mar. 4, 2018. From RECO reviewing the use of bitcoin in real estate transactions, to privacy concerns facing Google affiliate’s Toronto Waterfront development, to the implementation of B.C.’s dual agency ban for all realtors, we’ve cultivated a list …

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Our CondoNow experts have narrowed down the top 10 real estate news stories from Feb. 19 – Mar. 4, 2018.

From RECO reviewing the use of bitcoin in real estate transactions, to privacy concerns facing Google affiliate’s Toronto Waterfront development, to the implementation of B.C.’s dual agency ban for all realtors, we’ve cultivated a list of the top 10 stories. Here’s the latest news!

Units in Toronto’s 31-storey Ellie Condo are being offered for from 70 to 116 bitcoins – a moving target given the currency’s volatility.
Full Story on TheGlobeAndMail.com

Toronto Man Will Only Sell His Condo for Bitcoin and Here’s Why

Demanding digital currency rules out most prospective homeowners, but could make it easier for foreign buyers.
Full Story on CBC.ca

 

 

SidewalkLabs

Google affiliate’s plans for tech utopia face privacy, development concerns.
Full Story on TheGlobeAndMail.com

 

 

 

BMO to Build New ‘urban campus’ Across from Yonge-Dundas Square

The four-storey, high-tech building will connect 3,500 employees with transit and customers.
Full Story on TheStar.com

 

 

 

Housing Crunch Could Drain Toronto Talent Pool

The Toronto Region Board of Trade says 42 percent of young professionals would consider moving to a more affordable housing market.
Full Story on TheStar.com

 

 

 

RioCan CEO Looks to Trade in Malls to Develop Apartments

RioCan CEO Ed Sonshine is trying to capitalize on the rental boom and insulate RioCan from the rise of e-commerce.
Full Story on TheStar.com

 

 

 

Tumbling Toronto Home Sales Signal a Return to Normal Market, Say Analysts

Convergence of higher rates, government policy and new mortgage rules hit home sales. But that doesn’t mean homes are more affordable.
Full Story on TheStar.com

 

 

 The GTA’s Population is Booming — but Not Necessarily in the Right Places

There seem to be countless examples across the GTA of developments springing up without sufficient nearby transit connections, parks, libraries, schools and clinics to support the number of people moving in.
Full Story on TheStar.com

 

 

‘Dual Agency’ Real Estate Rules Booted to June

The Office of the Superintendent of Real Estate (OSRE) has postponed introduction of controversial legislation regarding dual agency and disclosures in real estate transactions.
Full Story on BIV.com

 

 

Some of the World’s Priciest Real Estate Floats on Open Waters

It’s among the world’s most-expensive real estate per square foot, where the oceanfront views never tire, and where the price of entry buys access to the otherwise inaccessible—165 apartments aboard The World, a condo cruise ship.
Full Story on Bloomberg.com

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Top 10 Real Estate News Stories From Feb. 5 – 18, 2018 https://condonow.com/learn/top-10-real-estate-news-stories-from-feb-5-18-2018/ https://condonow.com/learn/top-10-real-estate-news-stories-from-feb-5-18-2018/#respond Sat, 17 Feb 2018 23:16:40 +0000 https://condonow.com/learn/?p=1838 Our CondoNow experts have narrowed down the top 10 real estate news stories from Feb 5 – 18, 2018. From new condo sales already setting records for Toronto, to why the Real Estate Board cares where the city council gets its money, to Toronto’s median price decline, we’ve cultivated a list of the top 10 …

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Our CondoNow experts have narrowed down the top 10 real estate news stories from Feb 5 – 18, 2018.

From new condo sales already setting records for Toronto, to why the Real Estate Board cares where the city council gets its money, to Toronto’s median price decline, we’ve cultivated a list of the top 10 stories. Here’s the latest news!

New Condo Sales are Red Hot Across Canada Says Altus Group

The GTA was the hottest market with 36,429 unit sales in the year, setting a new record.
Full Story on CanadianRealEstateMagazine.Ca

In Toronto’s Land War, Condo Builders Are Better Armed

With unrelenting demand and the deep pockets that brings with it, condo builders are consistently winning the contest for scarce building land in Toronto.
Full Story on TheGlobeAndMail.Com

 

 

Toronto Real Estate Gets First Median Price Decline Since 2009

Toronto real estate set a quiet record, that went largely uncelebrated last month. Numbers from the Toronto Real Estate Board (TREB) show that the median price declined. While it’s not an end of time announcement, here’s why you should care about it.
Full Story on BetterDwelling.com

 

 

Why Toronto Real-Estate Agents Are Sounding The Alarm Over The City’s Budget

Why does this real estate board care where city council gets its money? And why should it matter how the market is doing this January? If these are questions you’re asking yourself in light of this recent (and somewhat confusing) complaint, read onwards.
Full Story on Torontoist.com

 

National Home Price index Up, Toronto Reverses Downward Trend

Toronto’s gain was the first in 6 months and was almost entirely down to condos.
Full Story on CanadianRealEstateMagazine.Com

 

 

City to Strategize on How to Stop Toronto From Becoming ‘playground for the rich’

Faced with crisis around affordability of rental housing, staff will develop plan to stop what one Councillor called the “Manhattanization” of Toronto.
Full Story on TheStar.Com

 

 

In a City of Rising Rents, One Man’s Search For an Affordable Place to Call Home in Toronto

Inspired by all the great films he’s seen at TIFF, Huy Do, 27, made his quest into a movie poster, marketing himself as the perfect tenant.
Full Story on TheStar.Com

 

 

Toronto 2018 Budget Keeps Property Tax Down, Drawing Concerns

Toronto’s mayor says this year’s budget is “just right,” but one critic argues failing to hike property taxes above the rate of inflation will make the city less affordable for everyone.
Full Story on CBC.Ca

 

 

Seattle Trails Toronto For Most Cranes, S.F. Has Highest Increase

Seattle has the most cranes in the United States, while Toronto, with 88, has the most cranes in North America.
Full Story on Bisnow.Com

 

Toronto Condo Numbers Set New Records

 Toronto’s condominium market hit another market milestone as the number of proposed apartments in the Greater Toronto Area passed 380,152 units in 2017.
Full Story on TheGobeAndMail.com

 

 

 

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Top 10 Real Estate News Stories From Jan. 20 – Feb. 4, 2018 https://condonow.com/learn/top-10-real-estate-news-stories-from-jan-20-feb-4-20181824-2/ https://condonow.com/learn/top-10-real-estate-news-stories-from-jan-20-feb-4-20181824-2/#respond Sun, 04 Feb 2018 06:46:30 +0000 https://condonow.com/learn/?p=1824 Our CondoNow experts have narrowed down the top 10 real estate news stories from Jan. 20 – Feb 4, 2018. From talks of implementing a vacant-home tax in Ontario, to the competitive rental market showing no signs of cooling down, to OREA  seeking feedback on modernizing the Real Estate industry, we’ve cultivated a list of …

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Our CondoNow experts have narrowed down the top 10 real estate news stories from Jan. 20 – Feb 4, 2018.

From talks of implementing a vacant-home tax in Ontario, to the competitive rental market showing no signs of cooling down, to OREA  seeking feedback on modernizing the Real Estate industry, we’ve cultivated a list of the top 10 stories. Here’s the latest news!

Toronto Real Estate Board Survey Offers More Info On Vacant Homes In The City

A survey from the Toronto Real Estate Board shows that two per cent of homeowners have a second property sitting empty as city staff continue to explore the idea of a vacant-homes tax.
Full Story On MetroNews.ca

The Last Hot Sector of Toronto’s Housing Market is Set To Cool This Year

Condo prices shot up 35% just in the last quarter of the year, but prices and sales will fall, says report.
Full Story On FinancialPost.com

 

 

How Ottawa Has Become a Top Real Estate Market to Watch

Ottawa’s real estate market is one of Canada’s strongest and steadiest.
Full Story on TheGlobeandMail.Com

 

 

Housing Market Still Overvalued In Toronto, Vancouver, Despite Slowdown In Price Growth: CMHC

With prices remaining high relative to salaries and demographics, the housing boom in Canada’s biggest cities leaves the national market vulnerable, CMHC said.

Full Story on FinancialPost.Com

 

Why Real Estate Agents Are More Important Than Ever

Realtors expecting steady growth in sales and prices this year, even as new rules come into play.
Full Story On REMOnline.com

 

 

Multiple Offers Now Common In Toronto Condo Rental Market

A lack of rental units has led to a spike in apartment and rental costs, and experts do not foresee the market cooling any time soon.
Full Story On TheGlobeAndMail.Com

 

 

Tale of Two Markets: 2017 Toronto Condo Demand Soared While Sales of New Single-Family Homes Slumped

It was a year of extremes in Toronto’s new-home market, with pre-construction sales of single-family homes falling 58 per cent in 2017 while new condominium sales soared to a record high.
Full Story On TheGlobeAndMail.Com

 

TREB: 1 In 10 Toronto Homeowners Planning To Sell Real Estate, Will Rent Next

Toronto real estate buyers and sellers may be on two different pages, according to a new survey. A survey conducted by Ipsos, on behalf of the Toronto Real Estate Board (TREB), shows an increasing number of homeowners are preparing to cash in.
Full Story On BetterDwelling.com

 

OREA Seeking Input on Improving Transparency Of Real Estate Industry

The Ontario Real Estate Association is seeking feedback on whether it should push the provincial government into modernizing the real estate industry to make it more transparent.

Full Story on CanadianBusiness.Com

 

Condos, Townhomes in High Demand in Metro Vancouver, Real Estate Board Says

1,818 homes were sold in January — up 19.4 per cent from the same time last year.

Full Story On CBC.Ca

 

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Top 10 Real Estate News Stories From Jan. 8 – 19, 2018 https://condonow.com/learn/top-10-real-estate-news-stories-from-jan-8-19-2018-2/ https://condonow.com/learn/top-10-real-estate-news-stories-from-jan-8-19-2018-2/#respond Sat, 20 Jan 2018 20:24:54 +0000 https://condonow.com/learn/?p=1820 Our CondoNow experts have narrowed down the top 10 real estate news stories from Jan. 8 – 19, 2018. From the highly anticipated reconstruction of the LCBO Headquarters on Queens Quay, to the sky-rocketing Montreal Real Estate market, and what to expect from rising interest rates, we’ve cultivated a list of the top 10 stories. Here’s …

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Our CondoNow experts have narrowed down the top 10 real estate news stories from Jan. 8 – 19, 2018.

From the highly anticipated reconstruction of the LCBO Headquarters on Queens Quay, to the sky-rocketing Montreal Real Estate market, and what to expect from rising interest rates, we’ve cultivated a list of the top 10 stories. Here’s the latest news!

Sugar Wharf Development’s First Phase To Put 8,000 Residents On Toronto’s Waterfront

A new LCBO store and headquarters, a school and park will be part of the waterfront neighbourhood east of Yonge St.
Full Story On TheStar.Com

Toronto Mixed-Use Site A Hot Commodity

A prime piece of Toronto real estate already zoned for mixed-use development is on the block and attracting interest from a variety of potential purchasers…
Full Story On Renx.Ca

 

 

Scooch Over: Toronto Has Room For More Density, Study Says

Toronto’s population could triple and still be less dense than Brooklyn, N.Y., a Fraser Institute report suggests.
Full Story On TheStar.com

 

 

Montreal Real-Estate Sales Growth Hits 10-Year High While Toronto, Vancouver Sales Decrease

Sales growth exceeded 20 per cent in five of Montreal’s most popular boroughs.
Full Story On TheStar.Com

 

 

canada-housing-realtor-real-estate‘Peak Millennial,’ Condo Nation, And Other Toronto Real Estate Trends To Watch In 2018

Realtors expecting steady growth in sales and prices this year, even as new rules come into play.
Full Story On CBC.Ca

 

 

Tidbits And Trends From The Peel Region Real Estate Market Over Past Five Years
Like the rest of the Greater Toronto Area real estate market, the story in Peel over the last five years in one word has been: “Up”.
Full Story On Mississauga.Com

 

 

Ten York by TridelStrong Demand Underlies Healthy Toronto Luxury Market: Report

In Toronto, only 15 per cent of purchases in the city’s top-end neighbourhoods — the Bridle Path, Forest Hill and Rosedale — involved foreign purchasers.
Full Story On TheStar.Com

 

 

Rise In Condo Maintenance Fees Slowed Last Year, Says Study

Condo fees in Toronto rose only 2.5 per cent in 2017 over the previous year.
Full Story On TheStar.Com

 

 

 

New Influx Of Toronto House-Seekers Eyeing Hamilton

The influx of home buyers from the GTA moving to Hamilton is intensifying as a new wave of Torontonians try to offset the added costs of new mortgage rules and rising interest rates.

Full Story On TheSpec.Com

 

 

What To Expect From Rising Interest Rates

Is now the time to lock in your mortgage? Here’s what to look for when it comes to debt and saving.

Full Story On TheStar.Com

 

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Top 10 Real Estate News Stories From January 1 – 6, 2018 https://condonow.com/learn/top-10-real-estate-news-stories-january-1-6-2018/ https://condonow.com/learn/top-10-real-estate-news-stories-january-1-6-2018/#respond Sat, 06 Jan 2018 23:50:39 +0000 https://condonow.com/learn/?p=1798 It’s a new year and our CondoNow experts are excited for all the real estate market has in-store! We’ve cultivated a list of 10 real estate news stories so far for the month of January to help you stay in the know. From 2018 market predictions to an unexpected inventory surge to where Canada ranks …

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It’s a new year and our CondoNow experts are excited for all the real estate market has in-store!
We’ve cultivated a list of 10 real estate news stories so far for the month of January to help you stay in the know.

From 2018 market predictions to an unexpected inventory surge to where Canada ranks in the global housing market, here’s the latest news:

Stress Test, Foreign Buyers And Higher Rates Likely To Impact Housing Markets In 2018.

New OSFI regulations and requirements for more open data have changed the rules.
Full Story On CBC.Ca

 

Toronto Home Prices Inch Up Despite 172% Dec. Inventory Surge 

Homeowners in Canada’s largest real estate market raced to sell their properties last month ahead of tough new lending rules that took effect at the start of January.
Full Story On BNN.Ca

 

 

Toronto Real Estate Board Blames Government For 18% Drop In Sales

The Canadian Real Estate Association forecast last month that home prices in Ontario will fall by a projected 2.2 percent in 2018.
Full Story On HuffingtonPost.Ca

 

 

Manitoba Credit Unions Not Included In ‘Stress Test’ Mortgage Rules

New rules were rolled out by the federal government Jan. 1 to reign in mortgage debt, but the rules don’t apply to credit unions.
Full Story On GlobalNews.Ca

 

 

Global Housing Markets Are ‘Slowing Sharply’. Is Canada Next? 

A majority of the world’s housing markets are seeing slowing momentum, and Canada could soon be among them.
Full Story On HuffingtonPost.Ca

 

 

Toronto Real Estate Will Get Over 57,000 New Homes in 2018

Toronto real estate is being plagued by a chronic shortage of supply… or is it? Recently we’ve been asked by a number of investors and developers whether they’ll be able to profitably create more supply in the Greater Toronto Area (GTA).
Full Story On Betterdwelling.Com

 

Mortgage Bond Market May Get a Boost From New Canadian Rules

It could make sense for more lenders to package uninsured mortgages into bonds, which over time could become a cheaper and more reliable form of funding.
Full Story On FinancialPost.Com

 

 

Canada’s Luxury Real Estate Hot Spots in 2018

Trends and predictions for six markets across the country.
Full Story On BCBusiness.Ca

 

 

Foreign Buyers ‘Dominate’ High-End House Sales In Vancouver

The most expensive resale condominiums in Metro Vancouver now average $1,800 per square foot.

Full Story On Vancourier.Com

 

Property Buyers Should Be Aware Of Real Estate Lawyers’ Legal Standards

Know what to expect from your lawyer and you can avoid troublesome legal claims.

Full Story On TheStar.Com

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CondoNow Top Ten Condos for 2017 https://condonow.com/learn/condonow-top-ten-condos-2017/ https://condonow.com/learn/condonow-top-ten-condos-2017/#comments Fri, 22 Dec 2017 20:27:40 +0000 https://condonow.com/learn/?p=1781 Welcome to CondoNow’s 2017 Top Ten Countdown decided by you the viewer! 2017 was a year the pre-construction condo market saw some of the hottest launches and sizzling sales resulting in another record-breaking year. According to the Building Industry and Land Development Association (BILD) New Home Sales Report, there were 32,000 condo sales as of …

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Welcome to CondoNow’s 2017 Top Ten Countdown decided by you the viewer! 2017 was a year the pre-construction condo market saw some of the hottest launches and sizzling sales resulting in another record-breaking year. According to the Building Industry and Land Development Association (BILD) New Home Sales Report, there were 32,000 condo sales as of the end of October; already surpassing the current record of 27,000 set in 2016 (an increase of almost 20%!). We’ve compiled a top ten list based on our algorithm, and we’ve discovered which development really stood apart from the rest. Did your purchase make our list of the Top Ten Condo Developments in the GTA?

Starting our Countdown at the Number Ten Spot is….

10. M City Condos

Rogers Real Estate Development Limited
Occupancy: Aug. 2021

Mississauga’s M City Condos is a master-planned community projected to consist of 10 towers. This year, M City 1 and 2 launched with fanfare. M City Condos had our viewers spending a total of 3420 hours (equivalent to 142.5 days) on the project. So what makes M City Condos 1 and 2 so desirable? These two towers will feature Rogers Smart Home Technology as well as two acres of public parkland that adds to Mississauga’s Downtown21 Master Plan City Redesign. This community benefits from the close proximity to SquareOne Shopping Centre, a transit score of 85/100 and schools for all ages.

9. Peter & Adelaide Condos

Graywood Developments Ltd.
Occupancy: Jan. 2022

Taking the #9 spot is Peter & Adelaide Condos. This warehouse inspired design has garnered much attention from those attracted to the rush and excitement of living in downtown’s Entertainment District. Sales for Peter and Adelaide Condos commenced just two months ago and the feedback from investors around the world has been remarkable. This project will rise 47-storeys in height and will consist of 660 suites. It’s no wonder the building is selling quickly because our numbers show that we had 28,000 hits since the project’s launch. The footprint of this project will be an L-shaped building with lots of retail space at ground level, bringing the luxury of everyday necessities to the doorstep of its residents. And did someone say, luxury?! Peter and Adelaide Condos will feature exquisitely designed amenity spaces that include, a fitness studio, co-working space, outdoor yoga space, kitchen, dining room and a breathtaking outdoor rooftop pool.

8. Nobu Residences

Madison Group
Occupancy: Jul. 2022

International hotel chain Nobu Hospitality takes our #8 spot for their first Nobu branded condo located at John and Mercer in downtown Toronto. The architecture will incorporate the Pilkington Glass Factory for the podium, mixed with Toronto history from the late 1800s façade, and a striking modern bronze design. Suites will have top of the line features and finishes to reflect the luxurious lifestyle of its residents. The building will be overflowing with amenities including a fitness centre, and a lovely Zen Garden to relax residents on the outdoor terrace. Nobu has had very successful sales so far and the word is, they are already down to their last few units! Our viewers spent approximately 1,400 hours gushing over all this project has to offer as anticipation builds for its 2022 completion.

7. Lighthouse East Tower Condos

Daniels Corporation
Occupancy: Fall 2019

June 2017 marked the launch of the second tower at Daniel’s Waterfront. Followed by so many for so long, it’s not surprising in the least that CondoNow had just under 14,000 visitors engaging CondoNow to help them understand what this master-planned community is offering. Nearly 2,300 hours reviewing this community vaults Lighthouse East by Daniels our #7. Lighthouse East Tower brings you right to Toronto’s Waterfront as one of the cities most coveted neighbourhoods. Expectations of sales for this tower were set high as phase one of this master-planned development sold out almost immediately. Now, the East Tower is well on its way to selling out as well. The design of this master-planned community takes its inspiration from Lake Ontario and brings breathtaking views of the lake. Daniels’ master-plan includes wonderful residential suites, garden plots, outdoor & indoor amenities, retail space, offices, as well as the community environments, The Yard and Sugar Beach North.

6. Auberge On The Park Condos

Tridel and Rowntree Enterprises
Occupancy: Summer 2022

Just 2 months ago, in October of 2017, Tridel launched Auberge On The Park. It was widely believed that this project coming to the corner of Leslie and Eglinton in Don Mills would be in demand and it certainly was. Tridel developments are always in high demand and this was no exception. With approximately 300 suites for sale at the launch, it was said that there were well over 1,200 intentions to purchase. CondoNow reports approximately 10,000 visitors to our platform spending in excess of 2,600 hours reviewing developmental details for Auberge On The Park by Tridel. (Stay tuned for the second tower launching early 2018).

5. Transit City Condos

Centrecourt Developments
Occupancy: Q1 2020

Early in May of 2017, Centrecourt Developments released Transit City Condos for sale. The tallest residential tower in all of York Region, located on smartcentre’s 100-acre land, this development in the Vaughan Metropolitan Centre was met with extremely high demand. The VMC will become Vaughan’s downtown core with the newly opened VMC Subway Station located right beside Transit City Condos. This is an exciting time for Vaughan as the city continues to grow in a plethora of ways. Condonow reports well over 10,000 visitors spending over 1,400 hours diligently reviewing everything Transit City has to offer.

4. Icona Condos

Gupta Group
Occupancy:  April 2021

In June of 2017, Gupta Group launched the massively successful Icona Condos. With 11,000 visitors spending well over 2300 hours reviewing this master-planned community near the intersection of highways 400 and 7 in Vaughan. Icona Condominiums is steps away from the everyday necessities of shopping and fitness to luxurious nightlife and entertainment. Located in the area is a movie theatre, Vaughan Putting Edge, local clubs, Dave & Buster’s, amazing eateries, and so many more amenities being developed for all ages.  it’s no surprise that this project sold very quickly.

3. Charisma Condos

Greenpark Homes
Occupancy:  October 2020

October 2017 marked the highly awaited sales launch of this two-tower community at the corner of Jane and Rutherford in Vaughan.  With the first tower SOLD OUT in days, and the second tower almost entirely sold, this development’s sales velocity is just another example of what we are witnessing in Vaughan. Charisma Condos stands at close proximity to the newly opened Vaughan Metropolitan Centre, many retail stores, reputable restaurants, marvellous parks and the beautiful Fossil Hill Pond. Highway 400 is just minutes away, making it easy for the Charisma Condo residents to explore the other beauteous areas of the city. 15,000 unique visitors spent over 2,500 hours reviewing Charisma Condos by Greenpark. Charisma Condos ranks a solid #3 in our top ten list.

2. The One

Mizrahi Developments
Occupancy: Spring 2023

Coming to market in October of 2017, this highly anticipated tower to be built at the corner of Yonge and Bloor had well over 22,000 visits to CondoNow. These 416 suites will become the heart and soul of the city. Sitting at a stunning 85 storeys tall, One Bloor St West will transform into a cultural hub bursting with street energy and endless opportunities for you to live, work, and play. Our records show that visitors to The One Condos on CondoNow spent over 3,000 hours reviewing specs, floor plans, pricing and more. Even with pricing starting at 1,200 dollars per square foot the development is now 75% sold and construction is underway. The One will be an icon.

 

And the #1 spot is awarded to….

1. Via Bloor Condos

Tridel
Occupancy: Spring 2021

Created by the largest condominium builder in Toronto, Tridel brings excitement and charisma to the corner of Bloor and Parliament with Via Bloor Condos. Both towers are designed to achieve a LEED® Gold Status, and we can’t forget to mention the fantastic views of the city, Rosedale Valley and the Rosedale Ravine. Launched in January and March of 2017, this tale of two towers was met with a tremendously enthusiastic response from both investors and end-users. Almost entirely SOLD OUT within days, and very much due to location and developer reputation, the launch saw as many as 5 times the number of potential buyers compared to available units. The CondoNow platform had approximately 20,000 visitors that spent over 2500 hours reviewing this development!

 

This completes our list for 2017. Did you buy a condo at one of these Top Ten? Will you be buying a condo in one of the Top Ten for 2018?

Generally speaking, condo projects by great developers in a great location are met enthusiastically by investors and end-users alike. If you are looking for a Toronto pre-construction condo for 2018, you can find all of them here.

Have a great holiday and best wishes for 2018!

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10 Tips For Investing in Toronto Pre-Construction Condos https://condonow.com/learn/10-tips-investing-toronto-pre-construction-condos/ https://condonow.com/learn/10-tips-investing-toronto-pre-construction-condos/#comments Fri, 01 Dec 2017 23:28:22 +0000 https://condonow.com/learn/?p=1772 Today’s hottest real estate trend is buying a condo during its Pre-Construction phase. You may ask yourself, “Should I buy a pre-construction condo in Toronto?” For individuals considering this type of investment, there are a few things to know before signing on the dotted line. 1. Find Out The Deposit Structure As an industry standard, …

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Real estate tips

Today’s hottest real estate trend is buying a condo during its Pre-Construction phase.
You may ask yourself, “Should I buy a pre-construction condo in Toronto?” For individuals considering this type of investment, there are a few things to know before signing on the dotted line.

1. Find Out The Deposit Structure
As an industry standard, pre-construction condos typically require a 20 percent down payment to purchase a property. The deposit structure is provided by the vendor and it will inform you of the timing of the deposits. For example, are you depositing 20% in the first year after contract signing or is it spread out over 2 or more years?

When buying pre-construction, the lucrative advantage of a 20 percent down payment is the power of leverage. For instance, if you were to purchase a $650,000 property with a 20% down payment, as construction of the condo commences, assume the average rate of real estate continues to climb by 5% per year. By completion in 4 years, your condo is now valued at $790,080. That’s a $140,000 equity head start (which you can capitalize on if you have an assignment clause, see below) and your return on investment is approximately 108%! Leverage allows you to magnify your return before you even move in.

2. Take Advantage of the 10-Days Cooling Off Clause
In Ontario, every pre-construction condo purchaser has 10 calendar days to reconsider and withdraw their purchase. During the 10-day cooling off period, also known as the “rescission period”, it is advised that you have an experienced lawyer review your purchase and sale agreement. This is also a good time to get a mortgage approval. You may have up to 30 days after contract signing to provide the vendor with your mortgage approval, but if you are unable to secure a lender, and you have surpassed the 10-day cooling off period, you may be unable to get your deposit back.

3. Work With An Experienced Specialized Lawyer
From negotiating closing costs to reviewing your purchase and sale agreement and possibly suggesting amendments, a lawyer with pre-construction condo experience will help you understand the fine print. A pre-construction condo contract, including all the amendments and condo documents can be hundreds of pages long. Know your rights and obligations completely and in simple words by discussing this with a specialist in the field.

4. Have An Assignment Clause In Your Contract
Having an assignment clause is a great feature as it allows you to sell your contract to another buyer before occupancy. This clause is especially important to investors seeking an ROI, sooner rather than later. It is advised that you speak with a pre-construction lawyer as there is usually some fine print that may limit your ability or means to sell your condo to another buyer.

5. Expect Construction Delays
Building completion approximations are just that, approximations. Developers may suffer delays due to unexpected schedule changes like, harsh weather, trade-related shortages and strikes. Delays can happen to the most reputable builder, and unfortunately, this is not something you can predict. Construction deadlines are outlined in the Tarion addendum in your purchase and sales agreement but plan for at least 3-6 months in delays.

Construction Skyline6. Material Changes May Occur
Embedded in your sales agreement are details about ‘Material Changes’. These changes could very well be the relocation of the Penthouse Sports Club to the second floor of the building or an increase in storeys. Your purchase price won’t be affected but the completion expectancy date may change.

7. Condo Fees Will Increase
Condo fees, also known as ‘maintenance fees’ are estimated several years in advance. The vendor can never be sure how much it will cost to run a building prior to construction. Consider the fee advertised as an approximation as the cost will change with the inflation rate among other things. Low condo fees can be enticing when comparing condo projects to one another, but prepare for fees to increase somewhat as the years go by.

8. Prepare For The Interim Occupancy Period
You may have received the keys and taken occupancy, but you are not yet the owner of the suite. Until the building registers and passes all required inspections, you are obliged to make monthly payments to cover the builder’s mortgage, property taxes and utilities. The registration period typically takes 6-9 months and can be inconvenient for most, but it is worth the wait to get the health and safety stamp of approval.

9. Prepare For Closing Costs

Closing costs may include:

-Land Transfer Taxes
-Development Levies (these can be capped, speak with a CondoNow agent for more info)
-Education Fees
-Utility Connection Fees
-HST On Appliances
-Reserve Fund Contribution
-Park levies

These costs can add approximately 1.5 to 4% to your purchase price.

10. Taxes are Rebatable
Condo prices quoted by vendors include the HST New Housing Rebate. This means that, if you are moving into your new condo, there is no HST to pay. Conversely, if the vendor deduces that you are investing with the intent to rent the property, the HST rebate is removed.
We strongly advise that you speak to an accountant well-versed in pre-construction condos.

When it comes to purchasing a pre-construction condo, making the most informed decision can be challenging. Our Condonow Comparison Tool allows you to view and compare projects based on some of the most essential elements:

Price Per Sqft.
Floor Plans
Maintenance Fees
Amenities
And Much More…

 

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Top 10 Real Estate News Stories From Nov. 2 – 16, 2017 https://condonow.com/learn/top-10-real-estate-news-stories-nov-2-16-2017/ https://condonow.com/learn/top-10-real-estate-news-stories-nov-2-16-2017/#respond Sun, 19 Nov 2017 06:09:24 +0000 https://condonow.com/learn/?p=1764 Our CondoNow experts have narrowed down the top 10 real estate news stories from Nov. 2 – 16 , 2017. From the Parkdale neighbourhood mega-project proposal to Vancouver taking the title of most unaffordable in North America to an increase in immigration over the next 3 years, we’ve cultivated a list of the top 10 …

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Our CondoNow experts have narrowed down the top 10 real estate news stories from Nov. 2 – 16 , 2017.

From the Parkdale neighbourhood mega-project proposal to Vancouver taking the title of most unaffordable in North America to an increase in immigration over the next 3 years, we’ve cultivated a list of the top 10 stories. Here’s the latest news!

DEVELOPMENT UPDATES

 

Is This Corner The Tipping Point For Parkdale?

The neighbourhood has yet to experience gentrification on the scale that a two-tower condo mega-project approved for King and Dufferin will bring.
Full Story On NowToronto.Com

 
Cancellation Of 10-Storey Toronto Condo Tower Throws Buyers Back Into Pricey Market

Call for tighter regulations and more protections for buyers of pre-construction projects.
Full Story On FinancialPost.Com

 

Toronto Future Transit Links Hold Promise Of Substantial Real Estate Investment

…rapid population growth and demand for commercial space will challenge government and private developers’ ability to deliver necessary infrastructure.
Full Story On NewsWire.Ca

 

MONEY MATTERS

 

 

Report Calls Vancouver Most Unaffordable Real Estate Market In North America

The study, released…on Monday, describes Vancouver’s “insane affordability gap” and points out that its unaffordability exceeds that of Manhattan and San Francisco.
Full Story On VancouverSun.Com

 

real estate FAQBoomers, Gen X, Millennials: How Living Costs Compare Then and Now

Today’s 25 to 34 year olds are facing low earnings, larger student debts and higher housing prices.
Full Story On GlobalNews.Ca

 

 

FORECASTS & TRENDS

 

 

Toronto Could Welcome Almost 170,000 Immigrants Over The Next 3 Years – Are We Ready?

Affordable housing, finding stable work challenges for newcomers to Canada.
Full Story On CBC.Ca

Toronto’s Future Condo Market Not Building Enough Bedrooms For Millennial Families

Report suggests millennials, downsizing seniors both after larger units in coming years.
Full Story On CBC.Ca

 

Toronto, Vancouver Housing Markets Move In Drastically Different Directions

Canada’s two most expensive housing markets have moved in different directions over the past year, leaving average national sales with an appearance of relative stability that masks sharp regional differences.
Full Story On GlobeAndMail.Com

 

Commuting Time Is The Key For Young Professionals

Distance to the job is the top factor in where Toronto’s talented young workers choose to live.
Full Story On TheStar.Com

 

 

Canada Home Sales Tick Up For Third Straight Month In October

The Canadian Real Estate Association says the number of homes sold went up 0.9 per cent in October, led by the Toronto region and the Fraser Valley in B.C.
Full Story On TheStar.Com

 

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Top 12 Real Estate News Stories From Oct. 17 – Nov. 1, 2017 https://condonow.com/learn/top-12-real-estate-news-stories-from-oct-17-nov-1-2017/ https://condonow.com/learn/top-12-real-estate-news-stories-from-oct-17-nov-1-2017/#respond Fri, 03 Nov 2017 15:44:11 +0000 https://condonow.com/learn/?p=1726 Our CondoNow experts have narrowed down the top 12 real estate news stories from Oct. 17 – Nov. 1, 2017. From the introduction of Toronto’s first tech-focused neighbourhood to battling Canada’s homebuyers debt to the latest in condominium ownership trends, we’ve cultivated a list of the top 12 stories. Here’s the latest news! DEVELOPMENT UPDATES …

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Our CondoNow experts have narrowed down the top 12 real estate news stories from Oct. 17 – Nov. 1, 2017.

From the introduction of Toronto’s first tech-focused neighbourhood to battling Canada’s homebuyers debt to the latest in condominium ownership trends, we’ve cultivated a list of the top 12 stories. Here’s the latest news!

DEVELOPMENT UPDATES

 

Google Headquarters to Headline Toronto’s Plan For a High-Tech Waterfront Community

Toronto’s eastern waterfront will be home to a brand new high-tech neighbourhood called “Quayside”.
Full Story On GlobalNews.Ca

 

 
The Next Hot Neighbourhoods

There’s hope for non-millionaires who just want a half-decent house in a nice area with good schools. Our GTA-wide ranking of the top 20 places to buy now.
Full Story On TorontoLife.Com

 

Toronto-York Spadina Subway Extension Lures Crowds With Station Sneak Peeks

TTC holds open house at three of the new stations on the long-awaited Toronto-York  Spadina subway.
Full Story On TheStar.com

 

MONEY MATTERS

 

Why The Governor of The Bank Of Canada Worries About Your Debt

Bank of Canada Governor Stephen Poloz says, “While the economy is doing well, the ‘debtors club’ is growing…Mostly from first time home buyers taking on hefty mortgages”.
Full Story On CBC.Ca

 

Purchasing Your First Home Before January 1, 2018 May Immediately Be On Your To-Do List and Here’s Why

According to the Office of the Superintendent of Financial Institution (OSFI), tougher mortgage qualifying rules will take effect as soon as January 2018.
Full Story On CondoNow.Com

 

 

Bank Of Canada Caution on Rates A Mistake As Debt Swells, Dodge Warns

Former bank governor says keeping rates low only encourages Canadians to pile on more debt, putting financial stability at risk.
Full Story On FinancialPost.Com

 

FORECASTS & TRENDS

 

Fist-Time GTA Home Buyers Take To The Skies In Condos

Condominiums house more than 20% of Torontonians and 13% of Canadians, according to the latest census.
Full Story On TheStar.Ca

 

This Has Happened to GTA Condos For The First Time Since 2015

The unsold inventory of new condo units in the Greater Toronto Area has increased for the first time since the end of 2015.
Full Story On Repmag.Ca

 

 

Pre-Sales Of New Low-Rises In Toronto Take Steep Dive

Preconstruction sales of new low-rise homes fell 73 per cent in the Toronto area in September compared with a year earlier.
Full Story On TheGlobeAndMail.Com

 

 

Toronto, Vancouver Monthly Home Sales Up

Canada’s two hottest housing markets experienced above average home sales last month, according to local real estate board figures.
Full Story On InsideToronto.Com

 

 

Canada To Welcome Nearly One Million New Immigrants Through 2020

Nearly one million new immigrants will settle in Canada between 2018 and 2020, under what the immigration minister has labeled, “the most ambitious immigration levels in recent Canadian history”.
Full Story On CicNews.Com

 

One Last Gasp For The Canadian Residential Market As Rule Changes Cloud 2018 Outlook

Realtors are predicting a busy Christmas selling season as homebuyers rush to beat the latest deadline to further cool the market.
Full Story On FinancialPost.Com

 

 

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