Entries by Mahyar Rezapour

Antilia, The Most Extravagant House In The World

While a 27-storey, two billion-dollar house for six people in the most poverty-stricken area of India might seem a tad bit extravagant to most, the richest man in India and sixth richest in the world, Mukesh Ambani, seems to have missed the memo. And that’s precisely why there is a towering skyscraper that reaches 550 […]

March 2, 2017 by

CMHC Mortgage Insurance Premiums Increase

We have a quick mortgage update for you. As you may have heard, CMHC (Canada Mortgage and Housing Corporation) just announced it will be increasing its homeowner mortgage loan insurance premiums effective March 17, 2017. When we heard about this update, we sat down with Mortgage Specialist, Tyler Schwende from SAFEBRIDGE Financial Group to get […]

January 18, 2017 by

Bank of Canada announces rate

The Bank of Canada is holding its benchmark interest rate at 0.5 per cent as economic conditions move along largely in line with its expectations. In making the scheduled announcement, the central bank says while the global economy has strengthened, international uncertainty has negatively affected business confidence and investment among Canada’s trading partners. The bank […]

December 7, 2016 by

Toronto home sales up 16.5 per cent

Home sales in the Greater Toronto Area were up 16.5 per cent in November compared to a year earlier with 8,547 sales through the MLS system of Toronto Real Estate Board. Meanwhile, prices continued to soar as low inventory tightened the seller’s market. The average selling price rose 22.7 per cent year-over-year to $776,684. All […]

December 5, 2016 by

Condo supply slides to decade low

The supply of new condos in the Greater Toronto Area hit the lowest level since 2010 in the second quarter of 2016. A report from Urbanation shows that sales of condos in the GTA increased 26 per cent year-over-year to 7,731. However, the total inventory declined by the same percentage to 13,528, a decade-low of […]

August 8, 2016 by

BC’s action could be bad news for Toronto

While there is no consensus on whether the 15 per cent tax on foreign home purchases in Metro Vancouver will cool any of the heat in the market, there could be a consequence elsewhere. Some analysts are suggesting that rather than pay the additional cost in BC, foreign investors may simply switch their cash to […]

July 27, 2016 by

Doubled in a decade – the high rise of low rise

Low rise homes in the Greater Toronto Area have more than doubled in price in the past decade; average appreciation in the past year alone was $100,000. The average price of a new low-rise home hit $887,543 in June, the Building Industry and Land Development Association (BILD) reports; that’s more than double the average $393,398 […]

July 22, 2016 by

Toronto condo landlords find tenants in 17 days on average

Photo: SAiM/Flickr Low supply is driving up prices: it’s a dynamic playing out in the Toronto resale housing market, observers say, and it’s a similar story for the city’s rental segment, suggests a new report from Urbanation. In the second quarter of this year, renters throughout the GTA paid an average of $1,934 per month for […]

July 22, 2016 by

Luxury real estate sales rage on in Toronto

An “unprecedented” number of luxury home sales have been reported in one of the country’s frothiest markets. Toronto saw 500 properties worth north of $2 million sold between January 1 and March 31 of this year. “Performance in the top end of the Toronto housing market continues to defy expectations,” RE/MAX Realtor Barry Cohen said […]

April 28, 2016 by

Breaking: Major developer enters bankruptcy

A large developer is taking steps to “deal with current cash flow issues.” Toronto-based Urbancorp has started restructuring proceedings under the Bankruptcy and Insolvency Act in a bid to address debt issues. “We determined, after much consideration and consultation, that a court-supervised process is the best way to deal with current cash flow issues,” chief […]

April 25, 2016 by

Condo buyers beware: How some builders overcharge for taxes

Thousands of purchasers of new condominiums are being overcharged for property taxes. Here’s how it works: when a new condominium is ready for occupancy, the buyer gets the keys and can move in — but title will not be transferred for some months. The period between occupancy and the final closing, when title is transferred, […]

March 17, 2016 by

Canadian Real Estate Re-Cap

Based on recently published data by the Canadian Real Estate Association1, the charts below summarize the total dollar volume (MLS) in residential real estate sales by region, the percentage change for 2015 over 2014, and the 2016 forecast by CREA. The Coldwell Banker Canada team has completed a comprehensive analysis of the 2015 market data […]

February 10, 2016 by

Pier 27 Offers Holiday Special at their Tower on the Lake

Holiday celebrations are starting early this year at Pier 27 Tower on the Lake, the third phase of the sought after lakefront luxury condominium on Queen’s Quay. From now until the end of December, Pier 27 is offering two years free maintenance on their beautiful two-bedroom suite located at the northwest corner of the building. […]

January 18, 2016 by

Record year for Toronto home sales

The Toronto Real Estate Board reported its second best sales for December in 2015, which completed a record breaking year for the region’s realtors. MLS sales in the GTA of 4,945 in December took the year’s total to 101,299, a rise of 9.2 per cent over 2014. All major home types saw increases and TREB […]

January 18, 2016 by

Toronto named hottest luxury real estate market in the world

The report by Christie’s International Real Estate says Toronto was the only location among the world’s top 10 markets to see a faster pace of luxury home sales last year over 2013 – 37 per cent in 2014, compared with only four per cent the previous year. The study says the extremely low supply of […]

May 4, 2015 by