"[...] Demand has been so high because people have the expectation that there’s no need to return to Toronto when the pandemic is over."
According to an Urbanation report, preconstruction condo sales in the City of Toronto climbed to 2,886 in the first quarter of the year from 2,829 in Q1-2020.
A cooling market isn't necessarily a bad thing. Bradley Watson, a broker with Watson Estates in Toronto, told CREW that we need some breathing room. Here's why.
In March, new listings set a record by reaching 1 million across Canada, a 7.5% increase from the month prior. Bidding wars were commonplace and inventories fell to their lowest in decades.
Learn more about how addy’s mission is to enable every human to become a homeowner by helping them invest in real estate at a price that works best for them, and dividing the investment into equal parts.
"[...]There’s a lot of push for the city and other government levels to move towards laneway housing to deal with the supply issue and I think that’s a great opportunity.”
The total value of home sales nearly hit $1.5 billion last month - a 130.4% increase over March 2020, and the largest amount ever recorded for any month.
Condo layout design is one of Condoville Realty Inc.'s specialties. A functional design is always better than a bigger design, especially when it comes to millennials looking for efficiency.
There were 13,168 condo apartments rented last quarter, according to the Toronto Regional Real Estate Board (TRREB), compared to 7,251 during the first quarter of last year.
A survey by Pollara Strategic Insights revealed that first-time homebuyers preferred living in major city centres. 27% chose Toronto, 15% Vancouver, and 11% apiece for Montreal and Calgary.
The Bank of Canada predicts GDP growth of 6.5% this year, up from its initial forecast of 4%, and while it will hold rates until the economy has recovered, that could happen a year ahead of schedule.
65% of buying activity in the city is coming from people leaving the GTA says Barrie-based Jeremy Brooks of Engels & Völkers. That’s also had a profound effect on the price of single-family detached houses.
Multigenerational living may become more common in Toronto in the coming years. Unlike typical condominium developments in the city, this condo development is emphasizing the need for family-sized units.
The pandemic has drastically changed the way transit is used in the GTA. Many who would usually commute to work are at home as their companies shifted to work-from-home models.
A decrease in vehicle ownership and increases in driving alternatives like ride-sharing and public transit has resulted in reduced need for parking spaces by residents who buy units in new developments.
CentreCourt sold out 8 Wellesley, a 55-storey, 599-unit tower slated for occupancy in 2025; a record for the GTA. This is a sign that Torontonians and investors alike believe we'll get past COVID.
According to this chief business development officer in Burlington, off-market investments have less competition and allow for more time to inspect the property.
Canadian housing starts hit 273,664 in March, up from 252,636 a month earlier, but the enhanced activity still hasn’t been able to keep pace with voracious demand.
“On the periphery of Vancouver and Toronto, there are pockets of opportunity. When you look at commercial real estate broadly, retail is a victim of COVID and that’s still playing out.”
Many people can't secure that 20% down payment to start their homeownership journey. This may be why rentals are exceeding demand in Toronto.
This broker says there are more investment opportunities in Mississauga's semi-detached market because you can benefit from two incomes - renting the basement and the upstairs.
With Bitcoin becoming such a success and increasing in value, is it a smart move to use it to purchase real estate? Yes and no. Here are some things to keep in mind.
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