Condo investment in Toronto tenders diminishing returns, but the discerning real estate investor can still turn a tidy profit. Two-plus-twos— that is, two bedrooms and two bathrooms—are among the scarcest commodity in downtown Toronto real estate today. In a city wherein glass towers are sprouting faster than weeds, units are shrinking in size. According to […]
Housing affordability is the most important issue in British Columbia, beating healthcare, energy & pipelines, and the economy. A report from Insights West shows that BC residents are three times more likely to cite housing affordability as the hot issue (36%) than healthcare (11%) while the economy is the top concern of just 7%. The […]
Ongoing talk of trade wars and tariffs is dampening sentiment among Canadian consumers. The weekly Bloomberg Nanos Canadian Confidence Index has declined again in the latest reading (54.31) and although the pace of decline slowed, the index is at a 12-month low. Just four week’s ago the index was at 55.28 and it started […]
Vancouver will make changes to bylaws to make it easier to build laneway housing. The City Council voted in favour of the changes this week which will help to achieve the Housing Vancouver target of 4,000 new laneway homes over the next 10 years. “It’s great to see City Council support changes to get more […]
The technology sector is continuing to view Toronto as a great place to be based, driving demand for offices and other CRE units, while also supporting employment in the city. A report from CBRE shows that 28,900 technology jobs were added in 2017, a rise of 13.6% from the previous year. “High-quality and well-educated tech […]
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. Availability of industrial property across the country fell to a historically low level of 3.9 per cent in 2018, while supply tightened in eight of the 10 major […]
Toronto’s low rental vacancy rate has been pushing rents upwards for months, and last quarter was no exception. The average rent for a 732 square-foot Toronto apartment rose 11.2 per cent year-over-year to $2,302 last quarter, according to a new report from Urbanation. Meanwhile, condo lease transactions fell 8 per cent to just 7,754 as […]
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Waterfront Toronto and the City of Toronto Parks, Forestry and Recreation have unveilled ten creative design proposals as part of the international design competition for York Street Park and Rees Street Park. Five design proposals will be on display for each park in the Rotunda at Toronto City Hall, so that members of the public […]
Canada’s economy saw some slight growth in April as real GDP gained 0.1%, the third month of growth following a decline in January. Statistics Canada reports that 12 of 20 industrial sectors gained, driven by a 0.2% rise for goods producing industries despite a decline for construction. Services industries were broadly unchanged but real estate […]
The latest Senior Loan Officer Survey from the Bank of Canada shows how lending conditions have changed in the second quarter of 2018. The new mortgage rules introduced at the start of the year continue to impact mortgage approval rates for low-ratio mortgages while the changes to regulations introduced at the end of 2016 are […]
The Bank of Canada will meet to decide on its latest move on interest rates next week and many are expecting an increase. But once July’s hike is done, things become less clear as the economy is showing some mixed signals. Two economists from Canada’s big banks have given their assessment of the likelihood of […]
Homeowners in Vancouver and Toronto believe that foreign investors are driving up home prices but that isn’t backed up by official figures. A new Housing Market Insight from the CMHC shows that 68% of survey respondents in Vancouver and 48% in Toronto think foreign investors have a lot of influence on home prices in their […]
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. The developer plans to construct the country’s tallest residential buildings — two towers as high as 92 stories plus commercial space, designed by Frank Gehry, […]
Sales of newly-built condos in the Greater Toronto Area totalled 2,003 in May, accounting for the bulk of the 2,345 total new home sales. While condo sales were 47% below May 2017’s record high, they were just 1% behind the 10-year average for May. “May new condominium apartment sales were very encouraging,” noted Patricia Arsenault, […]
The M City complex and Hurontario LRT are scheduled to open in 2021 and 2022, respectively The start of construction for a $1.5 billion condo complex is being hailed as a major step in Mississauga’s ongoing evolution into a full-fledged urban centre. Developers are set to host a ceremonial groundbreaking Monday at M City, a 10-tower, 15-acre […]
Haider-Moranis Bulletin: The private sector can develop student housing into a mature class of real estate investments As enrolment at Canada’s universities and colleges continues to grow, the space for lecture halls, labs and academic offices is becoming scarcer. The same goes for on- and off-campus student housing. More than 1.5 million full-time students are […]
Nearly half of new residential developments in downtown Toronto could be made up of two- and three-bedroom units, a new plan for the core just approved by city council outlines. The city’s sweeping TOcore plan for downtown growth considers many aspects of living, working and being in Toronto’s core, including expanding and improving parks; fostering […]
Within seven years, the national average for seniors’ home rents could reach $4,000 a month, DBRS report warns A new cohort is joining young Canadians and others frustrated by sky-high rents and soaring housing costs: seniors. A looming affordability crisis is poised to hit seniors across the country as the baby boom generation makes its […]
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