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 […]

On New Ground: Average Toronto Home Price Breaks $1M Barrier for First Time

Investor Backgrounder On New Ground: Average Toronto Home Price Breaks $1M Barrier for First Time   The Toronto Real Estate Board recently reported that the aver- age price of a detached home in the City of Toronto has moved above $1 million for the first time in a calendar month.1.    This record price is largely […]

Proposed 80-storey Toronto tower would be tallest building in Canada

The southwest corner of Yonge Street and Bloor Streets in Toronto, is pictured on Wed., March 11, 2015. Mizrahi Developments is proposing the construction of an 80-storey mixed-use building on the site.   The Toronto businessman who purchased the iconic southwest corner of Yonge and Bloor streets unveiled his vision to local residents on Wednesday, […]

The Economist Ranks Toronto Best City to Live In

The Economist recently released a study of major cities throughout the world and found that Toronto is the world’s best city to live in. The study was based on a number of factors including safety, livability, cost of living, business environment, a democracy index, and a global food security index. Within these factors, over 40 […]

Big Surge in Micro Condos

Micro condos will face their first real test in Canada this year, experts say. TORONTO – The appeal of so-called shoebox condos — no larger than the size of two average living rooms — will face its first real test in Canada this year, with an influx of the compact homes set to hit the […]

Percentage of Toronto condos owned by foreign investors is very low, CMHC says

Percentage of Toronto condos owned by foreign investors is very low, CMHC says Survey paints a stunning picture of a region undergoing a rental renaissance as home ownership climbs further out of reach.   The Canada Mortgage and Housing Corporation says the percentage of condos in Toronto owned by foreign investors is a mere 2.4 […]

We just might need all those new condos, CIBC economist says

REAL ESTATE We just might need all those new condos, CIBC economist says IMMIGRATION FLOOD By GARRY MARR Nov, 2014 Are we really overbuilding, constructing too many condominiums and creating too much sprawl? A new report maintains we need that housing more than ever. Benjamin TaI, deputy chief economist with Canadian Imperial Bank of Commerce , says we might be substantially underestimating household formation because […]

Autumn Numbers to Crunch, Condominium Market Update, Nov 2014

Autumn Numbers to Crunch Cut it anyway you like it, October was a big month for the statistics lover. Condominium Market Update, November 2014:   The Canadian Mortgage and Housing Corporation (CMHC) started the ball rolling with its report that housing starts were up in September – 197,343 units, up from an upwardly revised 196, 283 in August. The crown corporation noted that […]

Tall tales: Comparing new condo heights in Toronto and New York City

The flocks of construction cranes crowding Toronto’s skyline won’t be going away any time soon. In late August, City Council approved anincredible amount of development over the course of just one week – 755 storeys of space over 18 new buildings. Largely concentrated in the downtown and the burgeoning South Core district along the lake, the approval […]

Tableau Upping the Entertainment District’s Design Ante

September 17 During the frenzy of interviews and red carpet appearances at the recent 2014 Toronto International Film Festival, many international celebrities commented on the dramatic changes they noticed in the area compared to previous visits. The festival takes place in the heart of the Entertainment District, an area with one of the country’s densest […]

GTA expected to lead country in luxury home sales

Sales of $1 million-plus houses — and condos — are expected to be strong into 2015, a report from Sotheby’s states.   SOTHEBY’S INTERNATIONAL REALTY CANADADemand for Toronto real estate remains strong. For example, this seven-bedroom, 11-bath Bridle Path home was listed for $14.8 million and sold this year for $14.2 million. It boasts a […]

Toronto tops survey of world’s most ‘resilient’ cities

Toronto, Vancouver and Calgary have topped a survey that ranked 50 international cities according to their “resiliency.” Toronto came in first, with Vancouver and Calgary following in second and third place. No other Canadian cities were on the list. The findings were part of a research report by Grosvenor, an international real estate development company. Chicago, Pittsburgh […]

Home Tax Deductions & Credits in Canada

Canadian homeowners have several home tax deductions that they can claim. They include: First-time home buyer’s tax credit If you are buying a home for the first time, you can claim a non-refundable tax credit of up to $750. This new non-refundable tax credit is based on a percentage of $5,000. You or your spouse […]

Are Toronto condo rents poised to climb?

Will rents for Toronto condos resume their upward climb? Monthly rents for condo-apartments in Canada’s most populous city have softened, according to data from the Toronto Real Estate Board, which represents realtors and tracks the market by way of the Multiple Listing Service. The average rent for a one-bedroom unit rented by way of the […]

TEDRA

Toronto Entertainment District Residents Association Voice for the residents that inhabit Toronto’s Entertainment District View Our Latest Newsletter: http://torontoedra.ca/

5 questions to help you decide whether to rent or buy a home

A home is one of the biggest financial commitments most of us will ever make — so it’s understandable that we might get a little stressed over what seems like a straightforward question: Should I rent or buy? To try and ease that anxiety, we spoke with a mortgage expert and a certified financial planner […]