Our CondoNow experts have narrowed down the top 10 real estate news stories from May 28 – Jun. 10, 2018.
A developer, an economist and an agent discuss the state of the condo market, new Toronto condo restricts smoking with one exception, and Toronto’s rising rents are infectious. We’ve cultivated a list of the top 10 stories. Here’s the latest news!
SKY HIGH: A Real Estate Roundtable on the State of The Condo Market
With most houses in the GTA out of reach, condos have become the new starter home, the downsizer’s destination and a great investment for overseas buyers. But how do you pick? New, old or not yet built? And when’s the right time to invest?
Full Story on TorontoLife.com
Toronto is Getting Its First Smoke-Free Condo
Located at Lawrence and Weston, the 22-storey building will restrict tobacco and cannabis smoking in all areas – but vaping is allowed.
Full Story on NowToronto.com
The Cost of Rent is Rising Fast in Toronto’s Neighbouring Cities
High rents aren’t just a Toronto problem. Pricey monthly payments, a feature of downtown living, are leaking into the suburbs and beyond, experts say.
Full Story on TheStar.com
As Housing Affordability Erodes, Millennials Forced to Get Creative to Buy That First Home
Millennials are cobbling together different ways to make down payments, settling for alternative housing options or sending letters to sellers when making an offer.
Full Story on FinancialPost.com
Greater Toronto Real Estate Prices Are Down 5%, Sales Drop Over 20%
Toronto real estate prices are split on where they should be heading. Toronto Real Estate Board (TREB) numbers show prices fell in May, but the city remained positive. The softer prices were largely due to declining sales, leaving more inventory unabsorbed.
Full Story on BetterDwelling.com
Rogers Family Foray into Real Estate Not Shaken by Market Volatility
A cooling property market in Canada’s largest city is not holding back one of the country’s richest families from pushing ahead with $1.5 billion multi-condo development in Mississauga, Ontario.
Full Story on BNNBloomberg.ca
Mixed-Use Condo Developer on the Hook for Plans at Former Hogtown Abattoir
On a helicopter tour of some of his Toronto projects this spring, Mazyar Mortazavi, principal of TAS, suggested that this birds-eye view provided a sense of perspective on Toronto’s constant debates about low-rise versus high-rise buildings.
Full Story on TheGlobeandMail.com
GTA Voters Say They Want Land Transfer Tax Gone As Home Sales Dip
A majority of voters in the Greater Toronto Area say they want Ontario’s next government to do away with the province’s land transfer tax, according to a poll.
Full Story on CTVNews.ca
Homebuyers Inflating Income on Mortgage Applications, Study Says, But Don’t Blame the Brokers
Haider Moranis Bulletin: A study found an increase in housing prices increased the incidence of homebuyers exaggerating their incomes on loan applications.
Full Story on FinancialPost.com
Why Aren’t Home Prices Falling? Home Sellers Won’t Have It
It’s been more than five months since the roll-out of new mortgage rules that forced even homebuyers with a larger downpayment to undergo a financial stress test. A lot has happened since then.
Full Story on GlobalNews.ca