As the coronavirus pandemic continues to have an impact on every industry, Toronto’s real estate market took another hit in April, with the average rent for both 1 and 2-bedroom apartments down on a year-over-year basis, according to new data from the Toronto Regional Real Estate Board (TRREB). This coincides with rental transactions for both […]
As the province heads into its 50th day spent under a state of emergency as a result of the COVID-19 pandemic, further business shutdown restrictions have been loosened in Ontario. Today, the provincial government announced that it would be expanding the parameters of essential construction to other activities and easing limitations on retail stores. This […]
Those are among the insights offered by CIBC World Markets managing director and deputy chief economist Benjamin Tal during a May 5 Real Estate Forums webinar. “It’s not a recession, it’s not a depression, it’s something in-between,” Tal said of the unprecedented position Canadians, and people around the world, find themselves in. “It’s basically a […]
TORONTO – Sidewalk Labs‘ ambitious vision for a hi-tech neighbourhood equipped with futuristic innovations won’t be coming to Toronto’s waterfront. The Google affiliate revealed Thursday that is walking away from its controversial, smart city plans after spending years and millions of dollars on the proposal. ”As unprecedented economic uncertainty has set in around the world […]
You know what they say: The show must go on. While that’s not true of everything amid the COVID-19 pandemic, it’s true when it comes to the biggest transit project in Mississauga’s history. If you regularly commute down Hurontario Street in Mississauga, you should note that some delays are possible due to a grand-scale construction […]
News that Canadian financial institutions were offering some mortgage deferrals sent investors running to the banks in early April, asking for a stay on their payments as personal incomes and investment portfolios were being wiped out by the coronavirus pandemic. Those deferrals seem like a lifeline for investors facing a liquidity crisis, but one leading […]
As the real estate market continues to take hit after hit as a direct result of COVID-19, with both prices and sales down in the Greater Toronto Area (GTA), it’s hard to imagine we’ll be on the other side of the pandemic any time soon. But, if it’s any consolation, Toronto home sales finally started […]
space is the new luxury,” says Max Hahne, broker of record at Engel & Völkers Collingwood Muskoka. It turns out that no matter how nice a house or condo you have in the city, during a pandemic, you’re still in the city. And the restrictions COVID-19 has placed on Toronto residents have led many homebuyers […]
TORONTO — The Ontario government has announced that certain businesses and workplaces can reopen on Monday with strict public health measures in effect. The government said businesses permitted to reopen include seasonal businesses and some essential construction projects. “Right now, there are certain businesses and workplaces that can operate safety,” Premier Doug Ford said Friday. […]
Nearly two weeks into an aggressive physical distancing campaign aimed at curbing the spread of the novel coronavirus, cases are doubling at a slower rate in Canada than elsewhere, and hospitals are not yet overwhelmed, public health experts say. But it’s too soon to tell how well the country will fare. Because Canada’s COVID-19 situation […]
MONTREAL ― The COVID-19 economic crisis has shuttered our cinemas and airlines, thrown restaurants and bars into disarray and is currently busy running up a heck of a government deficit. But apparently it can’t derail Canada’s housing markets, many of which can expect to see rapid house price growth once the outbreak passes, several recent […]
Mayor John Tory says Toronto could face a budget shortfall of nearly $2.8 billion as a result of COVID-19’s lasting impact on the city. Tory announced the news Friday afternoon during his daily briefing, calling the coronavirus outbreak “one of the greatest financial challenges the city has ever faced.” During his briefing, Tory said the […]
Love it or hate it — whether you’ve witnessed the meteoric rise in your property’s value over the past decade, or felt the deep frustration of wondering if you’ll ever be able to afford a home in the city — there are few among us without a strong opinion. That was the case long before […]
Canadian home prices rose at a brisk pace in March, led by the capital region of Ottawa-Gatineau, data showed on Monday, even as measures taken to contain the coronavirus outbreak pummelled economic activity. The Teranet-National Bank Composite House Price Index, which measures changes for repeat sales of single-family homes, showed prices were up 0.6 per […]
Canadian real estate buyers largely ignored warning signs going into last month. Canadian Real Estate Association (CREA) data shows sales climbed in March. Due to the pandemic, the country had distinct pre and post markets. Pre-pandemic declaration, a large number of buyers didn’t think the deteriorating economy would impact them. Post-pandemic declaration, buyers were literally […]
National sales and new listings were stifled in March, as home buyers and sellers across the country remained on the sidelines in the second half of the month in reaction to healthcare and economic measures to combat COVID-19. Although sales crept up 7.8 per cent year-over-year (y-o-y), there was a stark decline in sales compared […]
Rocky months lie ahead for Canada’s commercial real estate market, but the sector will likely experience a remarkable revival once the COVID-19 crisis passes, Morguard Director of Research Keith Reading predicted. “Confidence that the virus is under some degree of control, ideally a vaccine, but minimally a treatment or processes that minimize exposure … will […]
Despite the ravages of the pandemic, Canadian housing prices will prove remarkably robust, according to Royal LePage. In its recent analysis, Royal LePage projected that the widespread economic weakness brought about by COVID-19 will pull down Canada’s average housing price by just 3% this year, should the slowdown last until late summer. This will put […]
Real estate market activity in Toronto is off by 60-65 per cent, according to realtor Barry Cohen, of Barry Cohen Homes. But that doesn’t mean things have fallen off a cliff. Most buyers and sellers have pulled back to wait it out, but others cannot or will not. And those people are looking for creative […]
As ridership continues to drastically decline on both regional and local transit — 90% on GO transit and 80% on the TTC — while people work from home or self-isolate during the pandemic, it’s safe to say the public is moving around differently as the COVID-19 outbreak powers on. To get a better understanding of […]
Maziar Moini, Broker of Record - Home Leader Realty Inc.
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