Richard Lautens via Getty Images
hstiver via Getty Images
The condo craze has outlasted the single-family home craze, but it too may be on its last legs.
Weekend Images Inc. via Getty Images
I'll admit it, several years ago I had a very poor opinion of the CityPlace neighbourhood in Toronto. Back then, this neighbourhood of tall condo buildings built around Fort York Blvd and Spadina Ave was a huge construction site. It was dirty, the buildings were all under a constant state of repair, and there were no amenities nearby. Then in 2013, when Fort York Blvd opened through Bathurst St, things began to change.
Chestnut Park Real Estate
As an analytical realtor who focuses heavily on market-based statistics, I've started to understand the growing shift towards pre-construction condos. Millennials now pretty much don't have any shot at purchasing a house with the current appreciation in the market, despite the government's efforts to slow things down. Even purchasing condos may be a stretch for some. Getting into pre-construction condos however, is the golden ticket.
Mike Cassese / Reuters
From its amenities to its backstory.
Mark Blinch / Reuters
We've all seen news headlines over the last few years describing properties that sell for "$400,000 above asking!" These headlines make it seem like houses are selling for much more money than they ar...
And Toronto, in particular, was singled out for concern.
Westend61 via Getty Images
"This particular deal was difficult."
Shutterstock / Andy Dean Photography
Recently I have had the pleasure to start working from the comfort of my home and while working in an office environment can be thrilling and stimulating, being able to stay in your pajamas and sweatpants with ketchup stains on them is much more exciting. However, creating a home office space in a small condo is no small task. Here's what the experience has taught me.
Bjarke Ingels Group
A bidding war is when the seller will list their house at an artificially reduced price, show buyers the house over a period of about a week, and then have an offer date where all interested buyers present their offers. The expectation is that they will sell for well over the asking price, and have multiple buyers bidding against each other.
Bjarke Ingels' architecture has a track record of winning awards.
Marek Poplawski via Getty Images
BuzzBuzzHome: Strollers aren’t just a common site in the suburbs where single-family houses abound. A growing amount of Toronto residents aren’t buying into the backyard-and-bungalow lifestyle that’s...
TORONTO - The 1.3 million Ontario residents who live in condominiums will get a new, less expensive way to resolve disputes under proposed legislation to be introduced Wednesday.The province will crea...
New York City now has more multi-family units under construction than any city in North America, bringing Toronto’s reign over urban construction to an end. According to BuzzBuzzHome’s most recent dev...
TORONTO - High-end homes are being snapped up increasingly fast in Toronto, named the world's hottest luxury real estate market in a new report that looks at where the wealthy choose to live.The repor...
TOWER TRIP Magazine: We recently compiled a list of what $1 million can buy you in the Montreal real estate market. We decided to play the same game for Toronto and browse through the listings of most...
Photo by Seattle Dredge via Getty Images
This is what the price gap between new homes and condos looks like in Toronto right now. That's right: it's a big, yawning chasm, not unlike the Moon Door on "Game of Thrones." The gap between the co...
urfinguss via Getty Images
When I mentioned to my New York real estate broker that I had relocated from Toronto he had one thing to say about the Big Smoke: "I've never seen so much construction in one place." Statistically, he's right. Few cities in North America rival the sheer amount of high-rises that are currently under construction in Toronto.
Dominika Sebjan via Getty Images
Many families are deciding to raise their children in the city instead of moving to the suburbs. Toronto is a safe and vibrant city, and with house prices both in the city and in the suburbs unrealistic for many parents, condos are an attractive alternative. Right now, a typical semi-detached home in a desirable neighbourhood can sell for around $1 million.
The biggest lessons I've learned about investing have come from the biggest mistakes I've made. I bought a pre-construction condo unit in a popular Toronto neighbourhood. I forked over a 20 per cent deposit to make the purchase. That was four years ago, the property still hasn't been built so I can't sell it or rent it out.
Vince Talotta via Getty Images
BuzzBuzzHome: The flocks of construction cranes crowding Toronto’s skyline won’t be going away any time soon. In late August, City Council approved an incredible amount of development over the course...
Rental demand in Canada's largest condo market surged to a record level in the last three months, according to new data from market research firm Urbanation. The report shows a trifecta of brok...
Michaela Begsteiger via Getty Images
The man known as Toronto's "Condo King" estimates foreign owners make up about half of the city's condominium market. But realtor and developer Brad Lamb argues that doesn't...
In China, crooks don't have to go to the casino because intermediaries called "junkets" will swap Yuan for gambling chips that can be cashed into Hong Kong or Macao currency at the casino then wired by Hong Kong banks to tax havens or accomplices offshore. The goal is to buy a condo or luxury goods with funds from a trust managed by a shell company in Grand Cayman, owned by another trust in Guernsey with an account in Luxembourg managed by a Swiss banker who doesn't know who the owner is.
With prices of single family homes already up over 13 per cent year over year, the dream of owning a home in a desirable neighbourhood is quickly fading for many would-be Toronto home owners. So what options are there for people with a budget under $1 million who still want a home in a desirable neighbourhood?
Dominika Sebjan via Getty Images
BuzzBuzzHome: The construction crane may as well be the de facto symbol of Toronto, with new buildings going up in just about every corner of the city. Although March data from Statistics Canada sugge...
Condo developers in Canada’s three largest metropolitan areas are building too many condos — 36 per cent to 68 per cent too many, according to a new study from Royal LePage. As a result, condo markets...
Recent changes to mortgage rules in Canada have left some condo buyers unable to afford their purchases, say professionals who are watching some clients struggle to hang on to their future homes. For...
Scott Dickson/Upside Down Marketing And Design
Downtown Toronto living is about to get whole a lot smaller. The city’s first micro-condos, geared towards “people who choose to live small (and smartly),” are in the works. They’re planned for a 25-s...
The Toronto skyline has changed radically during the last decade, but the real estate boom isn't over yet and things are set to get crazier still. Just check out this projection of what Toronto's down...
Toronto new condo sales took a nose-dive in the first quarter of 2013, according to condominium market research company Urbanation. A total of 2,728 new condo apartments were sold in the first three...
TORONTO - The number of homes sold last month in the Toronto area was down about 15 per cent from the same time last year.The Greater Toronto Area Realtors association says there were 5,759 sales thro...
A report from an equity research firm into the Toronto condo market raises serious questions about the possibility of irresponsible mortgage lending, and suggests that, with the market turning down, s...