Posted by Roman Bondarchuck on Wed, 08/24/2011 - 5:45pm
Its official! Toronto has hit the big time. We are now playing in the big leagues against giants like London, Miami and New York. As a matter of fact the Toronto market is the fastest growing in North America right now and 60% of new home sales in 2011 were from condiminimums according to the building industry and land development association (BILDA).
Figures from the Canadian Real Estate Association show that there has been an increase of 28% on the number of condos purchased in July in Toronto from last year. This is an exciting time to be involved in the real esate market in Toronto and with 40,000 additional condominimum units still under construction it's clear the excitement is not anywhere near bubbling point yet!
For potential buyers the news gets even better - prices of condos are down 2% from June in July and the Canadian Real Estate Group has increased its sales forecast for the remainder of the year in this bustling Canadian city.
The most surprising news is that 60% of these condo-buyers bought their properties straight off plans - before construction even began as investment properites.
Bottom Line? Toronto is the place to be, interest rates are low enough to be attractive to any type of buyer no matter your budget. The condo market in Toronto is crowded so dip that toe in the water and have a look!
Posted by Roman Bondarchuck on Mon, 08/15/2011 - 2:13pm
It has recently been revealed by Statistics Canada that following the 0.4 rise of home prices in May, this past June has seen an additional increase of 0.3 percent. Canadians acknowledged an advance in 8 metropolitan regions. Statistics Canada stated, Prices were unchanged in 10 of the 21 regions, and they fell in three St. Johns, Montreal and Calgary, which had the biggest decline at 0.3 per cent.
Toronto and Oshawa in particular were key contributors to the noticeable increase in Junes key index. Good market conditions from great demand and greater costs for materials, brought about the notable changes that are visible today. The Canadian Real Estate Association claims the increase to be a result of a balanced supply and demand. Canadian Real Estate Association president Gary Morse has stated, "Canadian housing demand remains resilient, thanks to low interest rates, job growth, and home buyer confidence in the economy."
This past June indicates the eighteenth consecutive rise in the cost of Toronto housing. Canadian real estate is currently on solid footing and stronger in contrast to the United States.
For more up to date condo information from one of Canada;s leaders in condominium marketing, click HERE
Posted by Roman Bondarchuck on Thu, 07/14/2011 - 6:53pm
The booming condominium market in Canada may well avoid the type of crash that has hobbled the industry in the past. Industry executives and analysts say demographics, immigration and limited land in the biggest markets all provide long-term support for the growing number of condominiums.
Analysts attribute part of the condo boom in Vancouver and Toronto to physical and regulatory land restraints, which have changed the mix of housing from the traditional single-family home to more stacked, and high-density communities.
In addition to first-time homebuyers, condos have also become popular for retiring baby boomers that prefer the simplicity of maintaining their condo to the upkeep of a single-family dwelling. Condos are also the only option for many Vancouver and Toronto homebuyers because even the fixer-upper homes cost around $500,000 are out of reach for many.
Data on Monday showed Canadian housing starts for June surged well past market expectations. The multiple-unit dwellings category -- mainly condominiums -- accounted for the majority of starts in urban areas and the supply is growing. BMO Capital Markets recently noted inventory of completed but unoccupied multi-dwelling units at 12,672 units in May, around historical highs, compared to 4,757 for single-family homes.
Banks and condo developers, particularly in Toronto, also appear to have learned some hard lessons from the 1980s, when many built with insufficient regard for demand and got slammed as interest rates climbed. Now, very few shovels these days will ever break ground until the developer has sold at least 70 percent of the project and has secured bank financing. Financing for individuals are also Since the Bank of Canada has been able to cut borrowing costs to a record low, bank loans continue to flow which allows home prices and sales to jump.
"It's a very well disciplined supply-side of the equation," said George Carras, president of RealNet Canada, which tracks commercial and new home projects.
Carras noted building high-density housing is a natural progression for a growing city with limited room to expand outward.
Summarized From: Analysis: Condo boom may avoid crash on demographics Written By: Ka Yan Ng See the original article.
Posted by Roman Bondarchuck on Mon, 07/11/2011 - 2:44pm
In National Geographics '10 Best trips of Summer 2011', Muskoka was named the number one out-of-the-ordinary destination for travellers!
The prestigious cottage country location about two hours north of Toronto is an outstanding getaway from Canadas largest city. The 2,500-square-mile natural playground offers unlimited hours of fun and entertainment, from wakeboarding to exploring historic landmarks incuding Muskoka Wharf's own Segwun Steamship.
The outstanding northern retreat is truly an experience for travellers of all ages.
Posted by Roman Bondarchuck on Thu, 07/07/2011 - 3:16pm
Attend an Exclusive Muskoka Wharf Seminar!
Learn how you can be a part of the $170 Million vacation community with Condominium suites starting as low as $149,900.
Date: Thursday, July 14th, 2011 Time: Registration 6:00 PM, Event 7:00 PM Location: CondoShow Toronto Office - 2487 Bloor Street West Intersection: Bloor and Jane
There will be a presentation discussing details of this exciting opportunity including the investment details such as revenue sharing, maintenance costs, taxes etc. Attendees will have exclusive access to the floor plans, views and prices before anyone else. You will also be able to reserve and purchase a unit right there and then!
To RSVP for this event click HERE. If you have any questions do not hesitate to call us at (647) 403-1832.
Posted by Roman Bondarchuck on Wed, 07/06/2011 - 5:09pm
This past May, condo sales in Toronto set all time record in the high-rise market. With an almost 50% increase in sales from last year, 2,433 condo sales took place. The outstanding number of sales can be seen as a result of the record low sales of low-rise homes in the Greater Toronto Area.
The amount of condo sales in June 2011 was up 21 per cent compared to June of 2010. Toronto Real Estate Board President Richard Silver states The pace of sales was a bit sluggish at the beginning of the year but rebounded in May and June. Because of the positive affordability picture homebuyers remained confident in their ability to purchase and pay for a new home over the long term.
The provincial policy to increase intensification has led to the publics interest in high-rise condominium residences. The swift increase in the condo market has created a beneficial segment for investors to become immersed. Average vacancy rates continue to decline even though the number of residences available in Toronto rapidly accelerates. Toronto condominiums are now in more demand than ever as the market continues to prosper.
For exclusive information about the Toronto's celebrated condo market, please click HERE
Posted by Roman Bondarchuck on Tue, 06/28/2011 - 4:02pm
Every year, the Greater Toronto Area sees an influx of about 80,000 to 100,000 new residents. This number is comparable to the population of Fredericton, New Brunswick. Canada as a whole is an attractive and promising nation for immigrants and those looking to relocate within the country because of its strong political, economic and social position worldwide. With the influx of population, local housing must react and accommodate in accordance.
In need of approximately 900,000 to over 1 million new units, provincial policies have called for intensification and concentration of living spaces in the city. Toronto must grow upwards, rather than outwards to sustain the rapid growth. With great demand, the development of high-rise condominiums is crucial for the city of Toronto. The threat of undersupply and high prices as a result subsists because of the low rate of development in the past year.
CondoShow.com is the #1 condominium marketplace for buyers and sellers. Through integrating effective buying and selling strategies, Toronto residents can make highly informed real estate decisions. To learn more, visit: http://www.condooutlet.com/
Posted by Roman Bondarchuck on Mon, 06/27/2011 - 10:25pm
Date: Tuesday, June 28th, 2011 Time: Registration 6 PM, Event 7 - 9 PM Location: The Royal LePage office at the Shops at Don Mills (above Starbucks) Intersection: Don Mills & Lawrence
This is a reminder and invitation to our Muskoka Wharf Launch Event taking place TOMORROW, June 28th at the Royal LePage office at the Shops at Don Mills (just above the Starbucks).
Registration starts at 6 PM and the event starts at 7 PM and runs till 9 PM.
There will be a presentation about this opportunity including the investment details such as revenue sharing, maintenance costs, taxes etc. Attendees will also have exclusive access to the floor-plans, views and prices before anyone else. You will also be able to reserve and purchase a unit right there and then!
If you still need to RSVP for this event clickHERE. If you have any questions do not hesitate to call us at (647) 403-1832.
Posted by Roman Bondarchuck on Thu, 06/23/2011 - 3:10pm
Purchase a Riverhouse condominium at Pre-Construction Prices!
Riverhouse at The Old Mill brought to you by renowned Lanterra Developments, now has a groundbreaking promotion for June and July.
Suite of the month: 2 Bedroom Nottingham or Southampton
Recieve your choice of $5000 toward upgrades or $5000 cash back plus a special deposit structure! Purchase any suite during June and July and recieve a special wekend spa package (retail value of $1,000) at the infamous Old Mill Inn & Spa accross the road.