"[...] 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.”
“Condominium sales compensated for the decrease in single-family home sales in February," Charles Brant, director of market analysis at the QPAREB, said.
Economic growth in the final quarter of last year was a surprisingly strong 9.6% (annualized). The surge in growth in January was even more interesting.
“It’s possible given the recent increases in prices, that some people are speculating about further increases in prices,” said Benjamin Tal, deputy chief economist of CIBC Capital Markets.
There are some great advantages for first-time investors who are looking to enter the market now. Here's what the founder and principal broker of Pekoe Mortgages has to say.
In February, the average price of a detached home in the 905 increased by a whopping 27.8% to $1,300,853, according to the Toronto Regional Real Estate Board.
With downtown Toronto’s condominium market staging a remarkable comeback, it begs the question: what effect will the delayed condo launches in 2020 have in five years?
New condos going up on King St. E. and Berkeley St. by Lamb Development Corp will be 32-storeys and the new Ontario Line subway route station.
The five- and 10-year averages for price growth in newer downtown Toronto condos is 15% and 8%, respectively. GTA-wide, the 10-year average is also 8%.
Condominium sales in the City of Toronto surged by 63.2% year-over-year in February to 2,167, according to the latest data from the Toronto Regional Real Estate Board.
According to GTA-based Seth Ferguson, CEO of Multifamily Real Estate Investments Inc., Texas has arguably the most propitious horizon in the Sun Belt.
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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