The Toronto Regional Real Estate Board released its 2020 housing figures this week. And I suspect that the numbers are probably directionally similar for many city regions around the world. 2020 saw more home sales than 2019 with 95,151 homes changing hands. This represents an 8.4% increase compared to last year. December was also a […]
Condo sales soared across the Toronto region in December, and as one economist wrote, it looked like buyers were out “in full force looking for bargains.” While roaring detached home sales and skyrocketing prices have stolen the lion’s share of the headlines in recent months, it now appears that condos are mounting a comeback, at […]
After years of a booming Greater Toronto Area (GTA) housing market, 2020 marked the first real obstacle for the real estate business since the late 2000s recession. COVID-19 brought on unprecedented challenges that saw staggering declines in market activity starting in the second quarter of the year. Despite all of the hurdles encountered last year, […]
With the COVID-19 pandemic forcing us to spend more time indoors, the desire for bigger homes among luxury buyers across the Greater Toronto Area has pushed sales in some expensive price categories to new highs. GTA luxury home sales priced between $3 million and $4 million broke a record in 2020, according to new data […]
What is the purpose of the Condo Guide? Ontario’s Residential Condominium Buyers’ Guide (Condo Guide) was developed by the Condominium Authority of Ontario (CAO) in collaboration with the Ministry of Government and Consumer Services (MGCS) and approved by the Minister as a helpful resource for the buyers of residential pre-construction/new condo units. You can read […]
If you think activity in Toronto’s condo market has decelerated, think again. “The information that’s not being reported, but that I see because I have to approve these and sign off on each one of them, is there are a lot of assignment sales right now,” said Sam Crignano, president of Cityzen Development Group. “This […]
A partnership is about values, what you want to achieve and why. Simply put, Mizrahi Developments came about with a vision of several goals to change expectations in the industry. Firstly, it was a desire to enhance the changing streetscapes of Toronto with carefully articulated, mid-to-high-rise buildings that give those who work and live in […]
Canadian landlords have endured a difficult 2020, but there is one metropolis that, according to a Rentals.ca report, is brimming with investment opportunity. “Montreal is expected to be the top major market in Canada next year with rent growth of 6%, rising from $1,665 per month forecast for December 2020 to $1,760 per month,” the […]
The term “foreign buyer” is often used pejoratively in Canada—it’s become synonymous with speculators who have nary a vested interest in the country apart from using empty homes as appreciation vehicles, to the detriment of the domestic population—and it couldn’t be more misguided. Turns out, many of these new Canadians bolster the national economy in […]
Yesterday, Altus Group released its seventeenth annual Canadian Property Tax Rate Benchmark Report, a study of the commercial and residential property tax rates in eleven of Canada’s major population centres. The report found that for the third year in a row, eight of the eleven cities studied have commercial tax rates that are at least […]
The right time to buy things is usually when other’s aren’t, which is why I’ve felt that this year was a great time to buy a centrally located condo. Cities aren’t going anywhere. This isn’t their first pandemic. Downtown demand will return as soon as urban life returns and the majority of people are back […]
in finance – investing, we need to think *exponentially*, not *linearly*. Money compounds. Growth doesn’t happen at a constant pace; it *accelerates* over time. Most of us are not programmed to intuitively “get” compounding — over the long run. It’s about the importance of thinking exponentially, as opposed to linearly, when it comes to finance […]
It goes without saying that 2020 was an unprecedented year, and that the ripple effect on the housing market was swift and notable. Across the country, home buyers, sellers, and renters re-evaluated their housing priorities as they navigated the COVID-19 pandemic, and many local housing markets saw several months of record-breaking sales following a spring […]
Last week, the Canadian Real Estate Association (CREA) released its latest resale housing market forecast, which revealed that — despite turbulent spring months — homebuyers are on track to set a record for activity in 2020, with some 544,413 homes projected to change hands by December 31, an 11.1% increase from 2019 levels. Subsequently, the […]
While there’s no doubt that downtown condos were left in the dust when suburban single-family home sales and prices took off during Canada’s economic recovery, the chances that urban high-rises will see a significant price drop over the next year is unlikely. In his response to November housing market data published this month by the […]
December 15, 2020 – The national average price is forecast to rise by 9.1% in 2021 to $620,400. Average price trends across Canada in 2021 are generally expected to resemble those in 2020. Shortages of supply, particularly in Ontario and Quebec, are expected to result in strong price growth, while Alberta and Saskatchewan are anticipated […]
A Canadian home price tracker known to be one of the best measures of price appreciation just experienced a record-breaking November increase. The Teranet-National Bank House Price Index rose 0.9 percent last month over October’s reading, the strongest gain for the month of November in the 22 years that the index has been compiled. National […]
While home sales across the country declined slightly in November from the previous month, they were up a healthy 32 percent over the same time last year. In other words, it’s the type of stellar performance that’s become standard during 2020’s post-spring lockdown period. But the strong home sales figures published today by the Canadian […]
While downtown condos saw price declines last month, a few suburban condo markets in the Toronto region still recorded healthy price growth. Oakville, Oshawa and Burlington all posted resale condo price gains above 10 percent in November, while Brampton and Vaughan recorded increases just shy of the double digits. Condo sales activity was about on […]
another year has come and nearly gone, and one thing that we’ve learned this year is the resilience of Ontario’s real estate markets, as they’ve managed to stay hot despite the latest pandemic restrictions rolled out by the provincial government to slow the spread of COVID-19. In fact, last month, there was a notable annual […]
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