It has been 15 years in the making and now we’re finally getting close to the finish line for what has become the most expensive condo development in the United States. With a portfolio of lenders providing $1.1 billion in financing, Central Park Tower is expected to bring 179 luxury units near New York’s Billionaire’s […]
There was an increase in the number of Canadian jobs in December with a net increase of 35,000 (0.2%). In the 12 months to December, there was a 1.7% increase in the number of jobs – a total of 320,000 – and this was mainly the result of a 1.9% increase in full-time jobs (283,000). […]
In less than five years, investment in Toronto’s condos will experience a significant upheaval as condo costs keep climbing and tenants veer ever closer to the brink. At present, the asset class is among the market’s most dominant: Condos currently account for fully 20% of Toronto’s rental housing. Moreover, as much as 30,000 new units […]
The usual suspects are at it again: Toronto and Vancouver led the country’s high-end market in both home prices and sales activity, according to the latest report from Sotheby’s International Realty Canada. The two largest top-tier real estate markets in Canada rallied at the end of 2019 after a slow start to the year, largely […]
Modest home-price growth in the nation’s largest 100 housing markets will continue throughout 2020, according to Veros Real Estate Solutions. Data from the latest VeroFORECAST projected that the appreciation rate for residential real estate would jump 3.9% in 2020, slightly up from the 3.7% rate predicted in the first three quarters of 2019. “VeroFORECAST reveals […]
A sustained skyscraper construction boom is pushing Toronto towards being the most active high-rise development hub in North America. Data from the Council on Tall Buildings and Urban Habitat showed that the city is benefiting from a strong building trend that currently has 31 skyscrapers under construction, as well as 59 proposed. This will be […]
A 26-storey condominium in Abbotsford, BC has been rocked by astronomical increases to its insurance premiums—a 780% increase from its rates last year. BFL, which insures the aforementioned Mahogany Tower, raised the property’s rates from $66,000 in 2019 to $588,000 in 2020. Mike Pauls, president of the building’s strata council, said that the increase will […]
New year, no vacancy. Renters in cities across Ontario will spend another year struggling to find rental housing as prices continue to rise in the face of tight market conditions. In 2019, the vacancy rate was 1.6 percent and it will likely drop further through 2020 to a near record low of 1.5 percent, according […]
The lack of housing supply, especially in the Greater Toronto Area, will aggravate Canadian home price growth this year, amid already acute pressure from investors and speculators. Coming off the heels of at least nine consecutive months of sales growth on a national level, it can been seen that the moderating effect of mortgage stress […]
This year, mortgage rates will most likely remain low and qualification will be easier, real estate information portal Zoocasa predicted. Much of the impetus for these developments could stem from renewed calls to give the B-20 mortgage stress test another look, given the policy’s moderating impact over the past two years. “In December, a letter […]
Housing affordability is a significant conversation that is taking place across the country, especially in high-density, urban cities. Even as the risk profile for Toronto and Vancouver housing markets have come down to “moderate” levels, the fact remains that the demand hasn’t gone away, and that means that prices are remaining out of reach for […]
It didn’t look like it was meant to be a banner year for Toronto’s new condo market as sluggish activity marred the early months of 2019. But after a spring awakening that was followed by a string of strong months for new condo sales, the year has now earned the distinction of one of the […]
The average selling price of a home in the Greater Toronto Area (GTA) in 2019 increased 4% to $819,319 according to a new report from the Toronto Real Estate Board (TREB), and those looking to enter the buyer’s market can expect prices to continue to rise in 2020 unless there is an increase in supply, […]
There was a decrease in Canadian construction investment in October, the latest month of data released by Statistics Canada. The agency says that total investment in construction was down 0.5% month-over-month to $15.5 billion with the residential sector down 1% to $10.6 billion while the non-residential sector gained 0.5% to $4.9 billion. Residential construction investment […]
Having a strong brand is vital for successful businesses but for cities it can enhance everything from investment to immigration. A new report from Global City Lab has ranked the top 500 city brands in the world with more than 80% of them in North America, Europe, and Asia. Europe leads with 177 cities in […]
Toronto and Vancouver are among the prime cities for real estate investment. London tops the Global Prime Real Estate Securities Strategies rankings from real estate investment management firm Heitman LLC followed by New York, and Singapore. Toronto ranks 11th while Vancouver is 24th. Heitman’s Real Estate Securities Group compiles the list as part of the […]
Toronto’s low-income renters may soon get some relief from the city’s overheated market following the announcement of a $1.4-billion rental housing benefit co-funded and agreed on by the provincial and the federal governments. Housing Minister Steve Clark said he expects the Canada-Ontario Housing Benefit, which eligible participants can use wherever they decide to rent, will […]
Canada’s housing market improved for the 9th month in a row in November, with strong gains in both sales and price growth – a trend that’s expected to continue into 2020, according to the Canadian Real Estate Association. The latest data reveals the number of homes trading hands nationwide rose 0.6% from October levels, and […]
Global household wealth is currently estimated at about $360 trillion, according to Credit Suisse’s 2019 Global Wealth Report. This represents an increase of about $9 trillion (~2.6%) from 2018-2019. Over the last decade, much of this growth in household wealth has come from two countries: the United States and China. 40% of the world’s US […]
The Canadian Real Estate Association (CREA) has updated its forecast for home sales activity this year and for 2020 via the Multiple Listing Service (MLS) Systems of Canadian real estate boards and associations. Evidence suggests housing activity will continue to improve into 2020, with prices either continuing to rise or accelerating in many parts of […]
Maziar Moini, Broker of Record - Home Leader Realty Inc.
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