Category: Uncategorized
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GTA’s Home Sales Rise in Late-Q3: Is Recovery Close? | Watch Today’s Real Estate Updates & Tips
GTA home sales in September reached 4,996, slightly up from August but 8.5% higher than September last year. The increase in sales is driven by lower interest rates and affordable conditions, boosting homeownership demand.
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Toronto Considering DC Deferrals, Property Tax Cuts For Purpose-Built Rentals
The City of Toronto aims to increase purpose-built rental housing, as outlined in a new report proposing the development of 20,000 new rental homes, including 16,000 purpose-built and 4,000 affordable units. The report calls for a Purpose-Built Rental Homes Incentive to support these goals, which include a tax reduction and deferral of development charges for…
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GTA Housing Market: Growing Demand-Supply Gap | Watch Today’s Real Estate Updates & Tips
A growing gap exists between home demand and housing starts in the Greater Toronto Area. Housing start applications decreased from 2,428 in 2021 to 1,225 in 2024, worsening affordability.
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New skyscrapers could replace downtown Toronto office buildings
A developer plans to replace an office complex at 310-330 Front Street West in downtown Toronto with two mixed-use skyscrapers, reaching 70 and 65 storeys. The project will integrate a surviving 16-storey building and primarily feature residential units, with some retail and office space at the base. The towers will provide a total of 1,782…
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Why Won’t Lower Rates Fix GTA’s Housing Crisis? | Watch Today’s Real Estate Updates & Tips
First-half 2024 saw low sales due to high interest rates and construction costs, with no expected rebound. Record-low sales will lead to fewer housing starts, worsening future housing supply in the region.
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Ciudad local ‘en tendencia’ con clientes de alquiler a corto plazo
Airbnb informa un aumento en los habitantes de Ontario que buscan vacaciones asequibles en sus áreas locales, con Penetanguishene emergiendo como un destino en tendencia. Muchas reservas son domésticas, particularmente del Área Metropolitana de Toronto. Las ofertas de Airbnb suelen ser más asequibles que los hoteles y están ubicadas en áreas con menos alojamientos, beneficiando…
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GTA Housing Stock Gap Hits 50-Year High | Watch Today’s Real Estate Updates & Tips
The GTA population reached 5.9M, significantly higher than in 1972 when data collection began. Average municipal fees rose by $42,000 for low-rises and $32,000 for high-rises since 2022.
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Plummeting number of new condos could signal end of Toronto’s building boom
Toronto's housing market is showing signs of cooling, with new data from the Canada Mortgage and Housing Corporation indicating a significant decline in condo construction. Year-to-date housing starts have dropped 20% compared to last year, with single-detached homes seeing a minor decrease of 4%. In September, condo starts fell sharply from 36,441 to 28,559. High…
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Fewer Applications: GTA Housing Supply at Risk | Watch Today’s Real Estate Updates & Tips
The construction of new homes is falling behind population growth, worsening housing affordability in the GTA.Development applications dropped significantly, threatening the housing supply.
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The Toronto Real Estate Bubble Is So Big It Breaks The UBS Index
Toronto's real estate ranks 5th in the UBS 2024 Global Bubble Index, showing an "elevated" risk for a housing price bubble. Despite improvements in some areas, the risk remains high due to a disconnect between home prices and income. While national mortgage risk is low, Toronto sees rising delinquencies, especially among overleveraged investors. The construction…