Toronto’s low income renters should soon learn how they can access a portable rental housing benefit following the announcement of what amounts to a $1.4 billion deal co-funded and agreed on by the province and the federal government. “Today’s announcement is another great example of how governments are working together to help our residents,” said […]
Using data from Turner & Townsend, Curbed recently reported that the most expensive city in the world in which to build is now San Francisco. On average, it costs USD 417 per square foot. San Francisco is followed by New York ($368 psf), London, Zurich, and Hong Kong. New York took the top spot last […]
If you’re struggling to find a place to rent in Mississauga, you should prepare for a challenging market marked by even higher prices in 2020. In fact, the recently-released Rentals.ca December 2019 Rent Report, produced by Rentals.ca and Bullpen Research & Consulting, suggests that rents could climb 8 per cent in Mississauga next year. When […]
The use of technology to review contracts is already rising fast in the legal services industry but a Vancouver firm hopes to find traction in the real estate industry. Eli Technologies has claimed a world first with its artificial intelligence (AI) powered condo and strata document review platform which helps real estate professionals to review […]
The Bank of Canada (BoC) announced today that it would keep the overnight rate at 1.75%. The Bank Rate is correspondingly 2% and the deposit rate is 1.5%. The BoC has maintained the current overnight rate since last October, when it was raised from 1.5%. No one really expected the central bank to raise rates, […]
The City of Toronto has released a comprehensive housing blueprint to assist more than 341,000 households over the next decade. The HousingTO 2020-2030 Action Plan provides 13 strategic actions that looks to address the “full continuum” of housing – including homelessness, social housing, rental housing, long-term care, and home ownership. Some of the highlights include […]
Ben Myers of Bullpen Research & Consulting was recently interviewed by Newinhomes.com about the state of Toronto’s new housing market. Ben is always interesting. And these are the sorts of things that I read in my spare time. So here’s an excerpt: The average price of popular new condo floor plans in the City of […]
Ontario Economic Overview With 2019 approaching its end, Ontario’s economic growth for 2019, at just over 1%, is forecasted to underperform the national average of 1.4%, with 2020 only expected to see about 0.75% growth compared to Canada’s 1.1%. The Greater Toronto Area (GTA) and Ottawa-Gatineau regions are expected to see stronger growth than the […]
Like all markets, the housing market in Ontario is driven by the laws of supply and demand. Strong demand for housing has created a persistent supply challenge that can only be solved, simply, by boosting the number of new homes being built. This approach makes sense. It is supported by numerous economists and academics. This […]
French architect Jean Nouvel has designed a sprawling, stone-clad residential development for the outskirts of Quito that echoes its mountainous surroundings. Ateliers Jean Nouvel has created Aquarela for Cumbayá, a rural area east of the Ecuadorian capital, in collaboration with local architectural developer Uribe & Schwarzkopf. The 136,580-square-metre project will comprise nine residential blocks wrapped […]
A proposed 72-storey, mixed-use tower set to become the tallest in Niagara Falls was approved at a Council meeting in that city yesterday evening. The condominium and hotel tower at 6609 Stanley Avenue is set to rise 253.45 m high, surpassing the 56-storey, 177.1 m/581 ft north tower of the Hilton Niagara Falls, which has […]
The Toronto housing market continued to rebound in September, with prices rising the most in 21 months, bringing the cost of a typical home close to the record high set in 2017. The benchmark price across all types of homes rose 5.2 per cent from a year earlier to $805,500, the highest annual rate of […]
Much ink has already been spilled over the rebound in housing that’s underway in some of Canada’s largest markets. After a volatile 2018 and an exceptionally brutal winter, home sales began to recover, particularly in the Toronto and Vancouver regions. The country’s all-seeing housing eye, the Canada Mortgage and Housing Corporation (CMHC), recently published its […]
Condo buyers in Ontario will get greater protection following the announcement of new requirements by the province’s home warranty provider. Tarion will says the new measures will help educate and inform prospective homebuyers and will include the addition of new search tools on Tarion’s Ontario Builder Directory and a new detailed information sheet highlighting the […]
The Harvey Kalles sales representative has been an agent for 15 years. In 2017, Kutyan was contacted by the The Globe and Mail and asked how he was able to get multiple offers on a home in mid-town Toronto. This was after the introduction of the Ontario Fair Housing Plan, when he had been the […]
Global institutions are increasing their allocations to commercial real estate assets as confidence in the sector remains high. The appetite for CRE investment among the world’s largest investors has reached a 7-year high despite concerns about asset valuations and weakening economic growth. The annual Real Estate Allocations Monitor from Hodes Weill & Associates and Cornell […]
The buoyant economic conditions in Toronto mean more people moving to the city for work and wanting the most affordable housing options. This has helped the condo apartment sales market in the third quarter, which gained 11.1% year-over-year according to new figures from the Toronto Real Estate Board. TREB members reported 6,407 condo apartment sales […]
O. Reg. 343/18: Timing of Tax Payable Under Subsection 3(2) of the Act was filed on April 26, 2018 to provide quarterly reporting periods for Land Transfer Tax on qualifying unregistered dispositions of a beneficial interest in land. Commencing on December 16, 2017, new provincial land transfer tax statements are being incorporated into Teraview, Ontario’s […]
Year-to-date new home sales totals for January – June 2019 in the Greater Toronto Area are as follows. YTD (Jan to June) 2019 Results Low Rise: 4,796 sales; up +130% from 2018; down -40% from 10 year average High Rise: 12,331 sales; up +24% from 2018; up +5% from 10 year average Total New Homes: […]
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