The Toronto Christmas Market is the most festive desintation in the city this time of year, and there's no shortage of entertaining things to do while you're there. Revel in all things Christmas at this holiday wonderland before it wraps up for the year on December 22nd. Here are some things to do and see at the Toronto Christmas Market. Marvel at the Christmas tree The Market's towering tree is up in all its 50-foot-tall glory. Stand in the shimmering shadow of this balsam... [read more]

Just in time for it's 30th birthday, the InterContinental Yorkville has completed a $12-million renovation of their 212 rooms. The most glamorous of all is the 2,400 square-foot Royal Suite, which boasts an opulent marble double shower and south-facing views over the ROM and the CN Tower. Here's a look around the sprawling suite, which goes for $2,500 a night. InterContinental chose the Atlanta design firm Sims Patrick Studio to oversee the makeover. The firm took... [read more]

It's a reno Etobicoke residents have been pining for - a new development to replace the existing mall with a cluster of buildings housing everything from affordable housing units to health care facilities to retail. QuadReal Property Group, who held an open house this past May, is currently gearing up for the public unveiling of a massive new project that will happen over several years in a series of phases. "We're really looking to embellish the sense of place that it has... [read more]

A small town roughly 60km north of Toronto is set to become home to a futuristic city called The Orbit. The town of Innisful isn't known for much besides cottages, farms and the Lake Simcoe shoreline - but that's all going to change. Around the area of the 6th Line and east of 20th Sideroad, at the heart of the region, Innisfil will become the perfect balance of urban living while still maintaining its natural and agricultural lands. The master plan for The Orbit, drafted by... [read more]

If you grew up anywhere on Toronto's west side, you'll likely remember the sprawling Mr. Christie factory and outlet store that abutted south Etobicoke's waterfront and produced the world's favourite cookie for more than 60 years. (You'll at least be able to recognize its iconic water tower.) When demolition of the Lakeshore Boulevard site began in 2017, there was talk of a mega development taking the factory's place, slated to include a transit hub, retail space,... [read more]

Luxury home sales in Toronto climbed in the first 11 months of 2019 and, with momentum continuing to build in the market as the year winds down, the outlook for 2020 is looking more and more promising. Much like the rest of the city and surrounding region's housing market, luxury real estate took a big dip in market activity in 2018 after a spectacular - though ultimately unsustainable - 2017 performance. This year started slow, but activity has crept higher in recent months led by... [read more]

Toronto's home prices extended gains in November, and are now accelerating at the fastest annual pace since 2017 as demand continues to outpace a dwindling supply of listings. Benchmark prices on homes sold in Canada's biggest city rose 0.6% in November from October, bringing the increase from a year earlier to 6.8%. The number of transactions also rose with sales up 14% from November 2018. Toronto's housing market has began bouncing back in recent months - driven by a... [read more]

If you're looking for a weekend getaway from Toronto or even just a day trip, there are many quaint small towns that feel like an entirely different world than the big city. A perfect example is Elora. Located just north of Guelph, this small town is known for its natural beauty and local charm. One place you probably already know in Elora is the famous Elora Gorge. Located on the western side of the city, this conservation area covers over 350 acres of natural land. The Grand... [read more]

Let's start with the good news since it's the freshest. Toronto apartment rentals saw the slowest rate of price growth in the last two years during the third quarter of this year. Real estate research firm Urbanation, which tracks prices for purpose-built apartments in the region, released new data today that found the average price for a Greater Toronto Area rental apartment was "essentially unchanged" between July and August when compared to the April to May... [read more]

Grammy award-winning artist, songwriter and producer Pharrell Williams is collaborating with developers on a new midtown Toronto condominium project. Westdale Properties and Reserve Properties launched the marketing for their two-tower residential development, called untitled., today during a press event in Yonge-Dundas Square. Williams, who introduced the project via video on the screens across the public square, partnered with the developers on the design and creative elements of the... [read more]

A ballroom, forested grounds and quick access to the golf course are a few of the features being touted by the listing agents tasked with selling some of the most expensive homes currently listed in the Greater Toronto Area. 1. 1150 Lakeshore Road East, Oakville Asking price: CAD $59,000,000 The home: Downtown Abbey is quaking at the sight of this 43,850 SF English country-style mansion on Lake Ontario. The 10 acres of lawn and gardens to frolic in makes Chelster Hall the perfect... [read more]

According to a new survey commissioned by Royal LePage, newcomers represent one in every five homebuyers (21 per cent) in Canada. If the current international migration level is maintained, newcomers are expected to purchase 680,000 homes over the next five years. "In addition to supporting Canada's economic growth, newcomers to Canada are vital to the health of our national real estate market," said Phil Soper, president and CEO of Royal LePage. "The combined demand for... [read more]

Much ink has already been spilled over the rebound in housing that's underway in some of Canada's largest markets. After a volatile 2018 and an exceptionally brutal winter, home sales began to recover, particularly in the Toronto and Vancouver regions. The country's all-seeing housing eye, the Canada Mortgage and Housing Corporation (CMHC), recently published it's optimistic 2020-2021 market outlook. The organization famously predicted that 2019 would be one of the worst... [read more]

Earlier this month, one of Canada's foremost authorities on housing released its market outlook for 2020-2021. Home sales and prices are expected to regain upward momentum after a couple of challenging years while home building activity will at least see some stability, but not a comparable lift, according to the Canada Mortgage and Housing Corporation (CMHC). Along with the outlook, the CMHC released three encouraging-looking graphs that plot the course of sales, prices and homebuilding... [read more]

A sprawling lakeside compound Location: Lake Rosseau, Minett Price: $9,800 per night Beds: 18 A cottage butler may sound over-the-top, but over-the-top basically sums up everything about this lakeside fortress, so it's only fitting that it should come with one. There's over 18,000 square feet of living space between the main cottage and boathouse, plus every possible amenity imaginable. We're talking tennis and basketball courts, a yoga studio, sauna, fitness centre,... [read more]

Oxford Properties Group is planning a $3.5 billion (USD $2.7 billion) development in downtown Toronto that would be one of Canada's biggest real estate projects. The property arm of pension fund OMERS aims to build a 4.3 million-square-foot, mixed-use complex on a 4-acre site that's just north of Toronto's Rogers Centre and CN Tower. The development, called Union Park, is the largest ever for Oxford outside of Manhattan's Hudson Yards, the $25-billion project it's... [read more]

Nearly a year after the Toronto Real Estate Board lost its appeal to the federal Competition Bureau over the issue of sold data, it turns out its privacy concerns were valid. Sotheby's International Realty Canada's 2019 Mid-Year Real Estate Report revealed a 19% year-over-year sales delcine in the MLS listings of Toronto homes priced over $4-million, but it doesnt tell the whole story, says Don Kottick, Sotheby's president and CEO. "We're starting to see in the... [read more]

More than 150 seniors who live in Davenhill Senior Living in Toronto's Rosedale neighbourhood are looking for a new home after the building was reportedly sold. "As the regulations that govern our operation have evolved over the past several decades, we have been able to adapt our services and infrastructure to an older building. However, any new or unexpected building upgrades or regulations would, in all likelihood, require more financial and operational resources than we, as a... [read more]

Toronto home sales jumped again in June, nudging prices higher and narrowing affordable options for buyers. A total of 8,860 homes changed hands in Canada's biggest city in the month, up 10% from the same month a year earlier, the Toronto Real Estate Board reported Thursday. New listings fell 0.4% to 15,816 leading to increased competition between buyers and price increases across certain segments. Benchmark prices, which adjusts for the type of housing sold, rose 3.6% to $798,500... [read more]

If you thought Toronto's high home prices would prevent people from moving to the city, think again. According to a new survey, Toronto is the most desirable city to move to for real estate. The survey was conducted by personal finance comparison site Finder. Based on a poll of 1,200 Canadian adults, Finder found that 54% are willing to move to another city to own a home. Although that's a small majority, the stat proves the Canadian dream of home ownership isn't dead after... [read more]

Contractors haven't been building condos and rental apartments at this frenzied rate in nearly 30 years. So says a Bank of Montreal analysis of preliminary housing starts data from Canada Mortgage and Housing Corp. (CMHC) for the month of June. Construction of multi-family dwellings - which include units in condo and rental buildings - roared last month at an annualized rate of about 186,000 starts, or "the highest level on record going back to 1990," writes BMO senior... [read more]

The Toronto housing market is poised to nearly reach peaks obtained in 2017, the hottest year on record for residential real estate in Canada's biggest city. This sums up the year-end forecast from TREB. The board anticipates home sales this year will clock in at 83,000 units - surpassing last year's tally - while the average price soars to $820,000, just shy of the all-time high in 2017. "Price increases will be driven by the average condominium apartment price growth in the... [read more]

Slipping sales figures for the Greater Toronto Area appear to be stabilizing, with the latest report from the Toronto Real Estate Board (TREB) showing little year-over-year difference in the volume of local home sales recorded in March, with just one fewer unit sold. Similarly, the 7,187 residential sales recorded last month represent just a 1% drop in sales measured quarterly. Along with flat March and Q1 sales versus the stronger numbers seen in 2018, new listings have delcined in even... [read more]

For housing markets in Canada, 2018 has been a year of restraint. But looking ahead to 2019, there are a number of potential outcomes to consider. The mortgage stress test was perhaps the most influential policy change that affected homebuyers in 2018. Under the new rules, which came into effect in January 2018, most homebuyers were required to qualify for a mortgage at a higher rate than the contracted mortgage rate. This was done to determine the borrower's ability to service the... [read more]

Address: 19 Evergreen Gardens Neighbourhood: Leaside Price: $4,299,000 Previously sold for: $1,050,000 (prior to a rebuild) The Place A modern home with touches of rustic and industrial design - plus skyline views from a rooftop garden. The History The home is just three years old. It was designed by, and custom built for, the current homeowner, an interior designer. The foyer has some wall art made of preserved moss: The dining area has a giant... [read more]

When a large company shuts down in a small town, the entire local economy feels the impact. GM's decision to close its Oshawa car assembly in 2019 will be no different. As thousands of gainfully employed workers anticipate layoffs next year, the effects will spill beyond the labour market into other economic sectors, including real estate. While the number of workers projected to lose jobs at GM's Oshawa assembly line is around 2,500, the number of those directly and indirectly... [read more]

Debbie Ross has the same chance of snagging an affordable apartment in Toronto as she does picking a long-shot at the Kentucky Derby. Ross is hoping to win one of 75 rental apartments in a lottery run by the city's public housing agency. She's up against 3,779 others, so the odds of winning are only about 50:1 but figures it's as good a chance as any of finding a place to live. Long priced out of home ownership, Ross is now being squeezed out of the rental market as the... [read more]

Ontario Premier Doug Ford's first-ever fiscal roadmap could have sweeping implications across all aspects of life for almost everyone in the province. Those who earn the most money, for example, no longer have to worry about paying extra income taxes (something proposed by the previous Liberal government that would have generated about $275-million for Ontario). Renters, on the other hand, could eventually end up paying way, way more to live in the city. Effective November 15,... [read more]

So many people live in apartments or condominiums in Toronto that it's hard to imagine a time when renting a small portion of a larger building was a radical, even a shockingly salacious way of life. Amazingly, before 1899, there were no purpose-built apartment buildings in the city at all, making Toronto something of an anomaly in North America. Sure, people rented rooms or floors of sub-divided homes (The Ward, a notorious slum that used to be located near current City Hall, was... [read more]

The elegant 41-storey tower will be bursting with amenities for the 64 residences within. When you're located in the heart of Bloor-Yorkville, you're expected to do things with style. So for its luxurious new 50 Scollard project, Lanterra Developments decided it would take things up a notch - or a dozen. Already known for its landmark condo projects across Toronto's downtown, Lanterra worked with award-winning architecture, interior design and landscaping firms for the... [read more]

Take a look inside Google's sister company Sidewalk Labs' Toronto headquarters. It's located right smack down in the middle of Quayside, which is where Sidewalk Labs' is trying to build a smart city. In the video, you'll have a look at some of the ideas that Sidewalk Labs has for the smart city, and some of the prototypes of these ideas. [read more]

Renting a condo in Toronto keeps getting more expensive. The average monthly rent for a condo in the city jumped 7.6% in the third quarter from a year ago to a record high $2,385, according to Urbanation Inc. While the number of new condo rental leases signed grew slightly in the third quarter from last year to 8,186, the market still remains exceptionally tight. Average lease prices in purpose-built rental buildings completed since 2005 in Toronto surged 17% to $3.09 per square foot as... [read more]

In the last couple years, a range of co-working and shared office spaces have sprouted up in Toronto, appealing to remote workers, freelancers and entrepreneurs of all stripes. There's the hyper-trendy, woman-only Make Lemonade, the parent-friendly Workaround, the architect and interior-design geared Fold, and WeWork, the original co-working behemoth, which now has five locations in the city and nearly 300 worldwide. As the gig economy grows, so does the demand for co-working spaces.... [read more]

Canadian e-commerce giant Shopify Inc. will announce Friday that the company is making an investment of up to half a billion dollars as the anchor tenant of The Well, a new real estate development in downtown Toronto. Shopify vice-president and GM of channels, Satish Kanwar, told the Financial Post that the investment represents a statement about the company's commitment to Canada, and how they plan to remain a foundational part of the Toronto tech industry. Toronto's technology... [read more]

As Fall draws to a close and the new year approaches, plenty of industry experts are making predictions about what 2019 will have in store for the Canadian housing market. This year saw housing activity take a major plunge, following the introduction of stricter mortgage qualification rules in January. While sales and prices have warmed up since then, there are still several factors that could rein in the market come 2019. Here are some predictions for what the market might look like in... [read more]

Engel & Völkers today released the results of an original study, "Meet HENRY: Influencing The Next Generation of Wealth." HENRY, an acronym that stands for High Earners Not Rich Yet, represents a niche demographic subset of Millennials and the youngest members of Gen X who have an annual household income of more than $100,000 and the greatest earning potential. For this study, Engel & Völkers surveyed more than 1,000 Millennial HENRY's (born between 1982 and... [read more]

While the rest of the GTA housing market has had a bumpy year, the new condo market has been thriving for months. Last quarter, new condo sales in the area grew 4% year over year, the third highest Q3 sales volume in 10 years, according to a new report from real estate research firm Urbanation. While that's still down 46% from Q3 2018's record 25,839 sales, it's further proof that the market has remained strong despite rising interest rates and stricter mortgage rules imposed... [read more]

While the rest of the GTA housing market has had a bumpy year, the new condo market has been thriving for months. Last quarter, new condo sales in the area grew 4% year over year, the third highest Q3 sales volume in 10 years, according to a new report from real estate research firm Urbanation. While that's still down 46% from Q3 2018's record 25,839 sales, it's further proof that the market has remained strong despite rising interest rates and stricter mortgage rules imposed... [read more]

Yes, a castle. Hockey Hall of Famer and Pittsburgh Penguins owner Mario Lemieux has put his luxury home in Mont Tremblant, Quebec on the market for an asking price of $21,999,066. Said to be inspired by Quebec City's Chateau Frontenac, the 16,794-sf home has 50 different rooms, including eight bedrooms and nine bathrooms, on 5.25 acres of land. Some of the highlights of the property, known as Chateau Fleur de Lys, include: 17 fireplaces 9 bathrooms 8 bedrooms, all with a... [read more]

What is that big, beautiful pile of blocks on King West? It's a sneak peek of the neighbourhood's future. The structure sits on land at Portland and King, where a new residential, office and retail complex is about to start sales after a two and a half year approval process. VIDEO: Click link The structure itself is the 2016 Serpentine Pavilion designed by Bjarke Ingels (BIG), the world renowned architecture firm behind the King St. project, as a commission for the Serpentine... [read more]

VIDEO: Click link Toronto developer and property manager KingSett Capital has submitted a rezoning application for 2 Bloor Street West through a limited partnership called Bloor CT Acquisition LP jointly held with a partner. The L-shaped site, at the northwest corner of Yonge and Bloor, and following along the south side of Cumberland to Bay, currently features a 1973-built 34-storey office tower and Cumberland Terrace, a 2-storey high (plus below-grade concourse level) shopping... [read more]

It would be easy to mistake the lobby of the One o One condos in midtown Toronto for a nightclub or graffiti-splashed alley. Instead of the muted colours and cookie-cutter designs that fill many condo buildings, developer Camrost Felcorp hired Toronto artist Anthony Ricciardi to create seven murals splattered with bright paint and a rainbow of drip marks. The flashy pieces put the building in a growing group of condo complexes whose hallways, lobbies and outdoor grounds are being... [read more]

With due respect to the politicians, economists, pundits, journalists, builders, realtors, empty-nesters, first-time buyers, and others who have opined on the fragility of the condo market and whay they perceive will be the cause of its imminent crash... They've got it wrong. But, also a bit right. Let me explain. This market, despite its solid fundamentals, is at a higher degree of risk today than any time in its recent past. If we don't recognize that risk and do something... [read more]

It may not be a glorious sight, but the sight shows a bright future: Right now, Toronto has the most construction cranes in North America - which indicates massive development. Toronto has an estimated 97 active construction cranes as of July 2018, according to the recent Rider Levett Bucknall Index (RLB Crane Index). This means the city has more than double the number of cranes of Chicago, four times as many as San Francisco and about five times as many cranes as New York City. In fact,... [read more]

It's now in a class of  cities with booming tech industries and rapidly rising house prices, a new forecast says. Toronto's housing market has seen a marked slowdown since a new non-resident tax successfully pushed many foreign buyers out, but a forecast from real estate agency Engel & Völkers says a new phenomenon is about to take over as the driver of Toronto's housing boom: The tech industry. The influx of tech companies into Toronto's downtown core in... [read more]

THIS IS WHY THE GTA CONDO MARKET IS STILL RED HOT, DESPITE A DIP IN SALES Sarah Niedoba, BuzzBuzzHome Image courtesty of: Menkes The GTA housing market has been seeing year-over-year sales drops every month since January, and the condo market is no exception. Yet despite the dip in sales, prices have continued to rise. The reason? It all has to do with a historically low level of listings. One of the big reasons we're not seeing a cool down in the condo market in spite of... [read more]

THESE TORONTO NEIGHBOURHOODS ARE SEEING A HUGE SPIKE IN DOLLAR VALUE Sarah Niedoba, BuzzBuzzHome Image courtesty of: Dan Cooper / Toronto Star The Toronto housing market looked quite different this time last year, as activity reached record heights and pundits warned of bubble-like conditions. Last month, home sales and prices dropped 31.1% and 12.4% year-over-year respectively, falling sharply from the record-hitting levels report last April. But according to a new report from... [read more]

WHAT $1-MILLION BUYS IN REAL ESTATE AROUND THE WORLD Robert Frank, CNBC Image courtesty of: Getty A million dollars doesn't buy what it used to - especially when it comes to luxury real estate. The Wealth Report, from London-based real estate brokerage Knight Frank, measured the top markets in the world and compared how much prime property $1-million would buy in each. Monaco still reigns as the most expensive for top-tier property. For $1-million, you can only buy 16... [read more]

DESPITE RECORD UNAFFORDABILITY, 84% OF CANADIAN MILLENNIALS STILL DREAM OF HOME OWNERSHIP Sarah Niedoba, BuzzBuzzNews Image courtesty of: Getty Canadian milliennials looking to buy their first home in 2018 face some of the worst housing affordability in years. But according to a new report, the vast majority still consider homeownership a worthwhile goal. Zoocasa's 2018 Housing Trends Report found that 84% of Millennials surveyed felt that owning a home was an important life... [read more]

SPACE UNDER THE GARDINER EXPRESSWAY IS TRANSFORMING FOR SUMMER Lisa Cumming, blogTO Image courtesty of: blogTO This summer, a section of the transformed underbelly of the Gardiner Expressway is slated to open for warm-weather use. Programming is supposed to begin on June 8th, and there will be a Bentway Summer Bash at a date yet to be announced. Newly released photos from The Bentway show the implementation of a wayfinding system using city numbers traditionally assigned... [read more]

THIS IS THE MOST EXPENSIVE CONDO IN TORONTO RIGHT NOW Lisa Cumming, blogTO Image courtesty of: blogTO Welcome to the fabulous lives of Toronto's rich and famous. Peel back a curtain on this $31.5-million penthouse in Yorkville to reveal exactly what luxury looks like. This two-floor 10,200 square foot palace - with a concierge - has everything you could ever want. Image courtesty of: blogTO Created in the 1960s by architect Philip Johnson, this condo has 5000 SF of... [read more]

CONDO OF THE MONTH: $2.2-MILLION FOR A CORKTOWN PENTHOUSE WITH A GIANT ROOFTOP Josh Sherman, Toronto LifeImage courtesty of: blogTO   Address: 32 Trolley Crescent, Penthouse 8 Neighbourhood: Corktown Price: $2,195,000 Previously sold for: $1,079,735 (pre-construction) The Place A custom two-bedroom penthouse atop River City II, an Urban Capital condo tower in Corktown, near the Don River. The History The owner put a pre-construction deposit on... [read more]

NEW HOMEBUYERS GETTING SQUEEZED OUT OF TORONTO MARKET AS GOVERNMENT FEES ON NEW BUILDS SKYROCKET Matthew Yuyitung, Financial Post Image courtesty of: Pointman   Government costs and charges on homes have gone up significantly since 2013, and account for nearly a quarter of the price of a new home in the Greater Toronto Area, according to a report published this week. The report, commissioned by the Building Industry and Land Development Association, showed average cost from... [read more]

  AS ONTARIO PREPARES TO VOTE, IT'S TIME TO RETHINK THE HOUSING PUZZLE Murtaza Haider & Stephen Moranis, Financial Post Image courtesty of: CBC   With elections in Ontario less than a month away, housing affordability remains first and foremost on the electorate's mind. Housing and land prices in urban Ontario experienced a dramatic increase since the last provincial elections in 2013. The Liberal government finally responded in April 2017 by imposing... [read more]

THIS COHORT IS QUIETLY CHANGING THE CONDO MARKET Neil Sharma, Canadian Real Estate Wealth Image courtesty of: Independent.co.uk Much has been written about first-time buyers flooding the condo market, but boomers, too, are having a considerable impact, as reflected in prices. In fact, given the home equity they've built over the decades, baby boomers have become a force in Toronto's luxury condo market. "The increased demand, coupled with low inventory levels, has... [read more]

HOUSE OF THE MONTH: $2.5 MILLION FOR A UNIQUE WAREHOUSE HOME WITH INDOOR LANDSCAPING Zane Schwartz, Toronto Life Image courtesty of: Multiple Listing Service (MLS) Address: 885 Logan Avenue Neighbourhood: Riverdale Price: $2,500,000 Previously sold for: $450,000 The Place A sprawling brick home with a waterfall, indoor landscaping and a massive skylight. The History According to a historical report prepared for the sellers, the property dates... [read more]

TORONTO CONDO OWNERS WILL SOON NEED TO PAY EXTRA IF THEY HAVE A DOG Lauren O'Neil, blogTO Image courtesty of: Get Leashed Magazine Living in downtown Toronto just got slightly more expensive for dog owners in at least one King West condo building.  Quad Lofts II is an 11-storey residential complex tucked almost squarely between Brant Street, Spadina Avenue, Adelaide Street West and King Street West. Like most condo buildings in Toronto, dogs and dog people are... [read more]

FORD NATION GOES HOLLYWOOD Liz Braun, Toronto Sun Image courtesty of: Sharp Magazine The general consensus on Rob Ford's bizarre and vaguely criminal run as mayor of Toronto? "You can't make this s--- up." The world o'cinema intends to try nonetheless. Run This Town, a fictionalized drama about the crack-using former mayor, is being filmed right now in Toronto, with Damian Lewis (TV's Billions; Wolf Hall) starring as Ford. And just how will... [read more]

BUH-BYE TO THE ONTARIO MUNICIPAL BOARD. HOW WILL IT AFFECT THE MARKET? Sarah Niedoba, BuzzBuzzNews Image courtesty of: Carlos Osorio After years of controversy, Ontario's quasi-judicial development proposal appeal body has called it quits. Whether or not that's a good thing for the Ontario housing market depends on who you ask.  On April 3rd, the Ontario Municipal Board (OMB) officially became the Local Planning Appeal Tribunal (LPAT), a transition that will bring a... [read more]

HOW MUCH OF A VALUE-ADD IS SMART HOME TECHNOLOGY? Neil Sharma, Canadian Real Estate Wealth Magazine Image courtesty of: Realty Biz News While Canadians have been slow adopters of smart home technology, the luxury market has embraced it with gusto - and condominium developers have taken note. Additionally, smart home technology augments a home's value, says Forest Hill Real Estate broker Matt Smith. "Any time technology can save time, money and energy, there is a major... [read more]

TORONTO CONDO RENTS SOAR NEARLY 11% AMID TIGHT SUPPLY Nicole Gibillini, BNN Image courtesty of: iStock Photo Toronto condo renters are facing sticker shock amid a supply crunch as new mortgage rules have been pushing more prospective homebuyers into the condo market. The average monthly rent for a Toronto condo surged 10.7% year over year to $2,206 in the first quarter of 2018, according to a report by real estate consulting firm Urbanation. The report said renters have moved... [read more]

PEOPLE ARE FURIOUS AFTER MASSIVE VAUGHAN CONDO PROJECT CANCELLED Lauren O'Neil, blogTO Image courtesty of: Liberty Development Corp. Some 1,100 condo investors were stunned and crushed last week to find out that the pre-construction units they'd already purchased would never actually come to be. Cosmos Condos, a high-profile residential development near the TTC's new Vaughan Metropolitan Centre Station, was scheduled to be completed by 2020 with move-in dates starting... [read more]

IF TORONTO WANTS AFFORDABLE HOUSING, IT SHOULD BUILD MORE LUXURY CONDOS Chris Spoke, The Globe & Mail Image courtesty of: Toronto Life Toronto, we now know, is in the midst of a housing availability and affordability crisis that is pricing many young people and middle-class families out of the city. As the average price across all housing types has surpassed $700,000, all levels of government appear to have been caught off-guard and are now scrambling to advance policy... [read more]

THESE ARE TORONTO'S 12-MOST EXPENSIVE CONDO BUILDINGS PER SQUARE FOOT Sarah Niedoba, BuzzBuzzNews Image courtesty of: Four Seasons Hotel GTA home prices have taken a tumble in recent months, with one notable exception - condos. As buyers struggle to afford still-pricey detached homes, condos offer a comparably affordable option for those looking to get into the market.  Condo prices were up 10% year-over-year in February and are widely expected to continue to rise... [read more]

TORONTO HOME PRICES RISE FOR THIRD STRAIGHT MONTH, SHOWING SIGNS OF REBOUND Janet McFarland, The Globe & Mail Image courtesty of: City of Toronto House prices in the Toronto area continued to show signs of stabilizing in March, fuelling predictions the city will see stronger growth in the second half of 2018.  The Toronto Real Estate Board (TREB) said the average home in the Greater Toronto Area sold for $784,558 in March, down 14% from record levels in March last... [read more]

TORONTO-AREA HOME PRICES DROP MORE THAN 12% IN FEBRUARY AS SALES PLUNGE Tess Kalinowski, Toronto Star Image courtesty of: Nav Sohi Re-sale home prices in the Toronto region dropped 12.4 percent, or about $110,000, year over year in February. The average price fell to $767,818 from $875,983 for all housing categories, including detached, semi-detached, townhomes and condos. The number of sales also plunged nearly 35 percent last month compared to February 2017 - to 5,175... [read more]

TORONTO MAN WILL ONLY SELL HIS CONDO FOR BITCOIN AND HERE'S WHY Natalie Nanowski, CBC News Image courtesty of: Finance Time Magazine When most people hear the word Bitcoin, they think zero regulation and unpredictability, basically the Wild West of currency. But not businessman Derryn Shrosbree. "I'm an ex-derivative trader from Wall Street, so I don't mind volatility that much," said Shrosbree. "I believe in cryptocurrency...I think it's the... [read more]

DON'T BE FOOLED BY THIS YEAR'S LUXURY HOUSING MARKET Neil Sharma, Canadian Real Estate Image courtesty of: REW Magazine According to a REMAX report, sales in the Greater Toronto and Hamilton Area's luxury real estate market are down from last year, but it doesn't tell the whole story.  Christopher Alexander, REMAX Integra's vice-president and regional director for Ontario-Atlantic Region, says high net-worth individuals in Toronto have increased 10%... [read more]

RIOCAN TRANSFORMING SOME RETAIL SHOPPING CENTRES INTO MIXED USE COMMUNITIES WITH RENTAL, CONDO UNITS The Canadian Press, Financial post Image courtesty of: Derek Ruttan / The London Free Press / Postmedia Network RioCan Real Estate Investment Trust says it will turn some of the retail shopping centres in its portfolio into mixed-use communities that have the potential for more than 20,000 residences in six major Canadian markets. The announcement of the RioCan Living brand... [read more]

TORONTO'S MILLENNIALS ARE CALLING FOR THIS KIND OF HOUSING, FAST! Sarah Niedoba, BuzzBuzzNews Image courtesty of: iStock.com Demand outpacing supply is often cited as one of the main reasons for Toronto's sky-high real estate prices. Now, according to a new survey, Millennials are calling for greater density in the GTA. A new survey by the Toronto Region Board of Trade has found that 83% of GTA millennials say that the cost of housing is making it difficult to save for... [read more]

PEARSON WAS JUST NAMED BEST AIRPORT IN NORTH AMERICA Lauren O'Neil, blogTO Image courtesty of: Macleans.ca Remember when the TTC was ranked North America's transit system of the year and everyone in Toronto was like "lol what"? That, but for flying - with less confusion. Airports Council International, a global trade representative for the world's airport authorities, has named Toronto's Pearson International Airport the best of its kind in North... [read more]

FORMER HUDSON'S BAY PRESIDENT BONNIE BROOKS IS SELLING HER SWANKY YORKVILLE CONDO Steve Kupferman, Toronto Life Image courtesty of: Sotheby's International Realty As president and, later, vice-chair of Hudson's Bay Company, Bonnie Brooks helped transform the chain from a tired mall retailer into a national fashion brand powerful enough to swallow Saks whole. Although she resigned her role at the company in 2016, she still has a number of high-profile positions, including a... [read more]

EXPECT TORONTO TO FOLLOW SUIT IF VANCOUVER'S 'VERY AGGRESSIVE' SPECULATION TAX ON PROPERTY SUCCEEDS Naomi Powell, National Post Image courtesty of: Google All eyes in Toronto will be on Vancouver after British Columbia introduced new tax measures designed to crack down on housing speculation and relieve a growing affordability crisis in the market.  In its first full budget, B.C.'s NDP government created a new annual tax on investors who own empty properties... [read more]

A HIGH-TECH NEIGHBOURHOOD COULD TURN TORONTO INTO A WORLD RENOWNED INNOVATION HUB Randy Risling, Toronto Star Image courtesty of: Google A high-tech neighbourhood designed by Google's sibling company has been pegged as a way for Toronto to become a hub in the burgeoning field of urban innovation.  "From a very practical perspective on an economic development basis, the smart cities or urban innovation area is a booming area that some would say is a $25-trillion dollar... [read more]

HOW TRUMP'S TARIFFS ARE LIKELY TO AFFECT CANADIAN MORTGAGE RATES Dave Larock, Move Smartly Image courtesty of: Macleans.ca Last Thursday, seemingly out of the blue, President Trump announced that the U.S. would impose a 25% tariff on imported steel and a 10% tariff on imported aluminum, adding that these new taxes may be applied as early as this week.  The U.S. President has a surprising amount of latitude on trade policy. In this case, Trump is arguing that the U.S. steel... [read more]

'OWN-USE' EVICTIONS ON THE RISE IN TORONTO Shane Dingman & Tom Cardoso, Globe & Mail Image courtesty of: Google.ca More Ontario renters are being served with eviction notices that suggest the landlord intends to occupy the unit for his or her own use - and the trend is accelerating, according to new data obtained by The Globe and Mail.  Data provided by the Social Justice Tribunals (SJTO) show the number of eviction applications that include an N12 notice -... [read more]

TORONTO'S SHERATON CENTRE HOTEL JUST SOLD FOR $335-MILLION Michael Ott, blogTO Image courtesty of: TripAdvisor In what is a surprise to probably nobody, it turns out hotels can sell for a ton of money. The newest mind-blowingly-large sale is the Sheraton Centre Hotel in Toronto. The iconic building was just bought by Brookfield Asset Management for a whopping $335-million. According to BNN, the sale is a record for hotel sales in Canada. Who would have guessed that a... [read more]

TORONTO IS CURRENTLY BEING SWEPT UP BY MEGA DEVELOPMENTS Lauren O'Neil, blogTO Image courtesty of: Wynford Green via Diamond Corp. Nowhere is the rapid pace of Toronto's growth more obvious than in blueprints for future developments.  Within five years, Toronto is expected to see dozens of new master-planned communities built around the city by powerful consortiums of architects, developers and urban planners. The construction of condo buildings is something... [read more]

THE TOP 5 NEIGHBOURHOODS FOR CHEAP RENT IN TORONTO Derek Flack, blogTO Image courtesty of: Julia Nathanson Cheap rent in Toronto is a relative term. Where once $1,000 could secure you a nice, above-ground one bedroom apartment, now you'll find plenty of basement bachelors listed above this benchmark. There are, however, some neighbourhoods that offer more bang for your buck than you'll find elsewhere. Here are five Toronto neighbourhoods with lots of amenities, good... [read more]

TORONTO IS GETTING AN EPIC 100-FOOT CHRISTMAS TREE THIS YEAR Derek Flack, blogTO Image courtesty of: Aida DaSilva The holiday spirit is about to bubble up in Toronto. Way up, in fact. Massive Christmas trees will rise across the city this month with the biggest of the bunch coming to the CF Toronto Eaton Centre in mid-November. As was the case last year, it'll rise a whopping 100 feet in the air, covering three levels of Toronto's downtown mall. This thing is so tall,... [read more]

THE 10 PRETTIEST STREETS IN TORONTO Derek Flack, blogTO Image courtesty of: Yedman The prettiest streets in Toronto are a collection of those that have stunning architecture, unique character or a natural setting. These are all open access streets that you can walk, ride and drive on, so get out and explore if you're thinking Toronto is lacking in beauty. Here are my picks for the prettiest streets in Toronto. Rosedale Valley Road Sweeping southeast across the city... [read more]

TORONTO CONDO JUST SIGNED A HISTORICAL AGREEMENT WITH AIRBNB Michael Ott, blogTO Image courtesty of: Rogers Digital Media Big changes may be coming for AirBnB hosts in Toronto.  The home-sharing app company has just signed a deal with a Toronto building that could change the way the service operates in condos throughout the city. Neptune Waterpark Condos has signed onto AirBnB's Friendly Buildings Program. The agreement allows condo management staff to see... [read more]

TORONTO PRICES WILL SOON HIT BOTTOM, BEFORE BEGINNING TO CLIMB: RBC Sarah Niedoba, BuzzBuzzNews Image courtesty of: Flickr/Franco Folini After a slow summer following the introduction of the province's Fair Housing Plan, Toronto's housing market could be balancing out. According to RBC Senior Economist Robert Hogue, the market seems to have largely adjusted to the effects of the plan, first introduced in April.  "Concerns that the initial sharp market reaction to... [read more]

THIS IS HOW MANY OF TORONTO'S FAMILIES ARE LIVING IN CONDOS - AND IT'S JUST THE BEGINNING Sarah Niedoba, BuzzBuzzNews Image courtesty of: James Bombales More and more families are choosing to make the move to condo-living, according to census data released last week by Statistics Canada. The data revealed that 129,000, or 13%, of Toronto's families lived in condos in 2016, up 8.9% from 2011, and well above the national average of 8.4%. "Younger families are just not... [read more]

TORONTO CONDO PRICES PREDICTED TO SOAR AHEAD OF 2018 SLOWDOWN Sarah Niedoba, BuzzBuzzNews Image courtesty of: Narcity.com Prices for new condos will continue to rise in coming months, before beginning to slow in the new year, according to a new report released at the beginning of the month.  "Amid record demand and plunging inventory, price growth for new condos continues to accelerate quickly," reads Urbanation's Q3-2017 market results report.  The index... [read more]

TORONTO'S HOUSING MARKET HASN'T BEEN THIS UNAFFORDABLE SINCE THE '90s Sarah Niedoba, BuzzBuzzNews   Image courtesty of: Getty Toronto's housing affordability continued to deteriorate last quarter, falling to levels that haven't been seen in decades.  "As of Q3, the Toronto and Vancouver markets are now the least affordable they've been since the early 1990's," reads the National Bank of Canada's most recent Housing... [read more]

CANADA IS COOLING ON U.S. TROPHY OFFICE TOWERS, EH? Konrad Putzier, REA Image courtesty of: TheRealDeal.com Oh Canada, why won't you buy U.S. office buildings anymore? The friendly northern neighbour is cooling off on purchasing trophy commercial properties after years of frenzied buying and has started shifting its focus to industrial and multifamily buildings. A mere 39% of Canadian investment in U.S. real estate in the first half of the year went into office... [read more]

LARGE COMMERCIAL OPERATORS A GROWING CONCERN IN THE AIRBNB MARKET Betsy Powell, City Hall Bureau Image courtesty of: AirBnB Large commercial players are dominating the short-term rental market in Toronto, Montreal and Vancouver, and raking in most of the revenue, according to research analyzing AirBnB activity.  And contrary to the AirBnB narrative that the online booking service is about regular people sharing their homes to help pay the mortgage, there has been... [read more]

HOUSE OF THE MONTH: 3.5-MILLION FOR A RENOVATED ROSEDALE HOME WITH A BACKYARD STUDIO Fraser Abe, Toronto Life  Image courtesty of: Toronto Life Neighbourhood: Rosedale Address: 220 Glen Road Price: $3,488,000 The Property -  A house in Rosedale, near Chorley Park, Summerhill Market and close to the Evergreen Brick Works. The History -  The home is about 100 years old. it was recently renovated according to a design by architect Marin Zabzuni,... [read more]

TORONTO HOME-PRICE DOWNTURN? NOT IN THESE NEIGHBOURHOODS Janet McFarland, The Globe and Mail Image courtesty of: beintoronto.com Toronto's housing downturn is not being felt equally across the region, with many neighbourhoods still seeing the prices of detached houses climb even while the average price falls across the Greater Toronto Area. A new report by Re/Max Integra shows that 40% of 65 districts within the Toronto Real Estate Board recorded detached house price... [read more]

CHANGE IN HOUSING MARKET PROMPTS NEW WARNINGS: SELLER BEWARE Tess Kalinowski, The Star Image courtesty of: Matt Smith Jasmin Sheba had already sold her furniture in anticipation of moving this week when she learned the buyer of her house wanted $20,000 off the selling price to close the deal. He threatened to sue for the $10,000 deposit if he didn't get the reduction, she said. But the stay-at-home mother was defiant.  "I have a 2-year-old and, after all the house... [read more]

HOUSING SLOWDOWN? NEW CONDO SALES ARE BOOMING IN TORONTO Matt Lundy, The Globe and Mail Image courtesty of: Toronto Star Toronto's resale housing market has cooled off considerably since Ontario's move to rein in frenzied activity. Meanwhile, demand is only increasing for new condo units.  Sales of new condos in the census metropolitan area totalled 12,138 in the second quarter, up 62% from a year earlier, according to data provided by BMO Nesbitt Burns. Inventory... [read more]

WHAT SLOWDOWN? TORONTO & VANCOUVER REAL ESTATE MARKETS STILL HOT AND UNAFFORDABLE FOR MANY Sophia Harris, CBC News   Image courtesty of: gettoronto.ca With recent price declines in Canada's hot real estate markets, there's been talk of a slowdown. But so far, it's hardly something for prospective buyers to get excited about. While prices did drop after the introduction of a foreign buyers tax in Vancouver last year, they're once again surging to new... [read more]

WOULD YOU CO-OWN WITH A TOTAL STRANGER? PRICED-OUT TORONTONIANS TURN TO REAL ESTATE SPEED DATING Tess Kalinowski, Toronto Star Image courtesty of: Carlos Osorio / Toronto Star There is a nervous laughter among the gulps of wine, tentatively proffered handshakes and exchanged numbers. But the personalized name tags at this speed-dating event in a Yorkville pub are a clue this isn't a romantic quest. "I have a big down payment," reads the badge of a woman in a... [read more]

TORONTO HOMES ARE CHEAPER IN GOLD TERMS TODAY VS. A DECADE AGO - SO WHY IS NO ONE CALLING THE GOLD MARKET A BUBBLE? Jeanette Rodrigues, Bloomberg News Image courtesty of: Getty Images Toronto homes aren't that expensive, if you pay in gold.  Douglas Porter, chief economist at the Bank of Montreal, mined data showing that when expressed in terms of gold, house prices in Canada's red-hot real estate market are far from record highs. An average home in Toronto today costs... [read more]

COMMERCIAL RENTS IN TOROTNO COULD SOAR AS MUCH AS 50% IN THE NEXT THREE YEARS AS MARKET TIGHTENS Garry Marr, Financial Post Image courtesty of: Office Search Toronto A new report suggests commercial tenants in Toronto will be facing massive rent increases over the next three years, amid rising property values.  Real estate company Jones Lang LaSalle predicts in a study out Wednesday that rents in Toronto could rise as much as 50% over the next three years in response to the... [read more]

TORONTO WILL HAVE THE FASTEST GROWING METROPOLITAN ECONOMY IN 2017 Conference Board of Canada Image courtesty of: CityBlast Toronto's economy is expected to expand by 2.7% in 2017, making it the growth leader among the 13 census metropolitan areas included in The Conference Board of Canada's Metropolitan Outlook: Spring 2017. Elsewhere in Ontario, Ottawa's economy is forecasted to post its strongest gain in seven years, while Hamilton's economy is expected... [read more]

TORONTO HOME SALES DROP MOST SINCE RECESSION AS NEW RULES PUT BRAKES ON MARKET Garry Marr, National Post Image courtesty of: Laura Gangi Sales of existing homes across the Greater Toronto Area dropped a whopping 20.3% in May from a year ago, while the average home price in the region fell about 6% from April, results based on the first full month of data following a major initiative by the Ontario government to cool Canada's biggest housing market.  The Toronto Real Estate... [read more]

WHERE THE MOST (& LEAST) EXPENSIVE CONDO AREAS ARE ALONG THE SUBWAY Tess Kalinowski, Toronto Star Image courtesty of: Andrew Francis Wallace/Toronto Star File Photo Want a condo but don't want to compromise on TTC access? Consider something in the Danforth area where the price per square foot is substantially lower than buildings on the Yonge-University-Spadina subway. If you're looking for luxury, get off at Museum where condos in the vicinity average $1,029 per square... [read more]

NOBU EXECUTIVES SAY THEY'RE UNCONCERNED ABOUT A TORONTO REAL ESTATE BUBBLE David Friend, The Canadian Press Image courtesty of: Chris Young, Canadian Press Executives behind the star-powered Nobu Toronto development, which includes 660 condominium suites, a hotel, and the first Nobu restaurant in Canada say they're not concerned about a real estate bubble in the city. Founded by celebrity chef Nobu Matsuhisa, Academy Award winner Robert De Niro and Hollywood producer Meir... [read more]

TORONTO HOUSING MARKET HAS A 'MISSING MIDDLE', NEW REPORT SAYS Shannon Martin, CBC News   Image courtesty of: Q4 Architects Inc. Call it the tale of Toronto's two housing markets: on one side are the million-dollar-plus single-detached homes, and on the other, those tiny boxes in the sky.  What's missing, is everything in the middle. "You've got the missing middle - townhouses, triplexes, duplexes," said Paul Smetanin, president of the... [read more]

ROBERT DE NIRO'S NOBU PLANS LUXURY CONDO COMPLEX IN DOWNTOWN TORONTO Joseph Darius Jaafari, The Globe and Mail  Image courtesty of: City of Dreams Manila Facebook page If you want to be king for a night in Toronto, Robert De Niro could soon make you an offer you can't refuse.  Nobu Hospitality, the luxury restaurant and hotel chain De Niro founded with famed Japanese chef Nobu Matsuhisa and Hollywood producer Meir Teper, is planning Canada's first... [read more]

PROPERTY TAX BILL FOR ONE YORKVILLE LANDLORD...$0.00! Michael Smee, CBC News  Image courtesty of: Colonnade on Bloor As Toronto homeowners begin receiving their property tax bills in the mail, the owner of a trendy strip on the city's Mink Mile won't be paying anything at all, CBC Toronto has learned. The freebie is part of a 66-year-old special arrangement between the city and Victoria University - a college of the University of Toronto - which owns a... [read more]

SALE OF THE WEEK: THE $2.1M DUFFERIN GROVE HOME THAT SHOWS HOW BIDDING WARS ARE CREATED Kelly Reid, Toronto Life  Image courtesty of: The Print House Neighbourhood: Dufferin Grove Previously sold for: $396,000 in 2003 The Property -  A four bedroom home that went for more than $800,000 over asking. The History -  The sellers have lived in the home for 16 years. The latest renovations date from 2010, when they extended the main floor, remodelled the... [read more]

HISTORIC DOWNTOWN TORONTO BANK LISTED FOR $1 Josh Sherman, BuzzBuzzNews Canada  Image courtesty of: Staff, TorStar News Service A century-old vacant Toronto bank designed by the architect behind local landmarks Old City Hall and Casa Loma is on the market for a loonie.  For the past 15 years, the E.J. Lennox-designed structure at 205 Yonge Street has stood vacant. That could soon change if the seller's plan to offload the former Bank of Toronto branch pans... [read more]

TORONTO IS NOW NORTH AMERICA'S HOTTEST HOUSING MARKET Josh Sherman, BuzzBuzzNews Canada Image courtesty of: realtor.ca Toronto's luxury housing market has shot past Vancouver's in an international ranking of top locales for wealthy homebuyers. Ontario's capital placed seventh on the latest annual Prime International Property Index from Knight Frank, a London-based property consultancy, one spot ahead of Vancouver - last year's global leader - making it... [read more]

9 CHARTS TO HELP YOU MAKE SENSE OF CANADIAN REAL ESTATE CRAZINESS IN 2017 Josh Sherman, BuzzBuzzNews Canada Economic analysis isn't always the easiest to understand. There's even a word for economists' jargon: Economese. Thankfully, there are charts. Economists with the country's biggest financial institutions feed the real estate obsessed with innumerable charts presenting complex data in a straightforward way.  Here are 9 interesting examples BuzzBuzzNews... [read more]

TORONTO'S HOME PRICES IN LINE WITH OTHER WORLD CITIES Tess Kalinowski, Toronto Star  Image courtesty of: Toronto Star Bubble? What bubble? Toronto's soaring home prices are in line with the reality of other world cities such as New York, Hong Kong and London, says Mark Renzoni, president of global commercial real estate giant CBRE. "The market is fairly balanced. It's not being driven by foreign capital. It's being driven by Canadians, moving up, buying... [read more]

LATER LAST CALL COULD BRING IN BILLIONS FOR TORONTO, BAR OWNER TELLS COUNCILLORS Bar and club owners say that Toronto isn't taking advantage of its night economy where billions can be made a year and told city council's economic development committee Monday that a later last call would help rake in those billions.  "We don't know the exact value of the night economy in Toronto," said nightclub owner Spencer Sutherland, who also chairs the business... [read more]

TORONTO'S MUST-SEE HOLIDAY MARKETS Avoiding the mall this shopping season? Here are five festive alternatives. Yorkville's first-ever Holiday Market​ is opening to the public December 2nd through December 22nd, adding to the city's already healthy East German tradition of showcasing local food and wares.  Beyond the standard crafts and carols, the Yorkville affair will feature a pop-up spa with mini-facials, yoga classes and personalized laser-cut ornaments... [read more]

WHAT WAS SERVED AT BUCA YORKVILLE'S $300 MICHELIN-STARRED DINNER A Tuesday evening in late November at Buca Yorkville, marked the sixth edition of the restaurant's "Sotto una buona stella" ("under a lucky star") series that teams up Rob Gentile with Michelin-starred Italian chefs. It was supposed to be the last of the series, but the one-off meals were such a hit that another three dinners have been added for 2017. Chef Mauro Uliassi, who holds two Michelin... [read more]

"DEVELOPERS ALWAYS WIN BECAUSE THE SYSTEM IS BULLSHIT" ...ROSEDALE RESIDENTS ON THE AREA'S CONTROVERSIAL NEW CONDO Forget Trump and road tolls. At Rosedalian dinner parties, there's one controversial topic that looms heaviest of all: a luxury four-storey, 26-unit condominium that would wipe out three detached homes on Dale Avenue. The trouble? The project - by Dale Inc. and Dale II Inc., subsidiaries of Hunter Milborne Real Estate - is in the South Rosedale Heritage... [read more]

HOME PRICES UP OVER 50% IN GTA'S HOTTEST NEIGHBOURHOODS Earlier this month the Toronto Real Estate Board announced that the average price of a detached home in the 905 region was up 29.4% year over year. But as any good math student knows, if the average in the GTA is up 29.4% that means there must be quite a few neighbourhoods that are appreciating at a much faster rate than this. I thought it would be helpful to take a look at how fast the hottest neighbourhoods in the GTA are... [read more]

LANEWAY HOUSING COMING TO TORONTO? Our leaders are looking at laneways to ease the city's housing crunch. So if you are a rat or a raccoon, better call the movers.  The idea, pushed by Davenport Councillor Ana Bailao, our official housing advocate, is to allow cosy abodes to be built on garages, parking pads and behind regular homes. This would transform back alleys into bustling residential zones. "Laneway suites have the potential to increase our housing supply in a... [read more]

WHAT YOU NEED TO KNOW ABOUT THE OVERSEAS INVESTORS WHO ARE SCOOPING UP TORONTO'S SKYLINE Forget low interest rates and the lack of single-family homes. Brokers and analysts are pinning Toronto's real estate insanity on a new scapegoat: a wave of wealthy foreign investors who swoop into showings over Skype, toss cash around like Canadian Tire money and leave their luxury penthouses empty. They'll do whatever it takes to call Toronto home - even if they never plan to set foot in... [read more]

2016 WAS A RECORD YEAR FOR TORONTO REAL ESTATE... BUT WHAT ABOUT 2017? Toronto 2016 MLS sales are set to smash all previous highs with an estimate of 113,000 total residential sales. At the year end of 2016, the average price is now at $784,000 up 26% from a year earlier. Days on the market is down to 17 days, a drop of 28%. Active listings are down 36%. The current average price of a detached house in the 416 is $1.35M up 32% over 2015. The average price for a condo in the 416 is now... [read more]

TORONTO'S MIDDLE CLASS IS ABOUT TO BE PRICED OUT OF THE CONDO MARKET The federal Liberal government's tighter new mortgage rules seemed to do little to slow Greater Toronto's housing market in November, with the city's average home resale price soaring 22.7% compared to a year earlier.  Single-detached home prices in the city of Toronto jumped by 32.3% in a year, and now average $1.35-million. In the surrounding 905 region, detached homes jumped 25.5% and are now... [read more]

LUXURY LIVING Toronto's Condo Builders Are Catering To Increasingly Sophisticated Buyers "Luxury is giving the homeowner something beyond their expectations," says developer Sam Mizrahi, president of Mizrahi Developments, who has spent the past nine years building grand spaces for well-heeled clients. "It's creating a 'wow fator' where we're exceeding their expectations in terms of their environment and in terms of their home." In Mizrahi's... [read more]

TORONTO'S REAL ESTATE MANIA HITS MUSKOKA COTTAGE COUNTRY It seems impossible to find a haven from Toronto's real estate bidding wars in 2016 - even for buyers looking as far afield as Muskoka's cottage country. Scrapping over properties on the "big three" Muskoka lakes has resulted in cottages selling above the $1-million or so asking price. Chestnut Park Real Estate Limited in Port Carling says they've seen more multiple offers this year than in any year... [read more]

ROGERS FAMILY & MISSISSAUGA TO HOST 10-TOWER CONDO PROJECT A parcel of land bought in the 1960s by Ted Rogers in farm country at the western edge of what is now downtown Mississauga is to be transformed into a 10-tower condo development hailed as a fitting tribute to the telecom pioneer who passed away in 2008. Rogers Real Estate Development Limited, a private holding company owned by the Rogers Family, along with Mississauga Mayor Bonnie Crombie on Tuesday unveiled a... [read more]

TORONTO'S MANULIFE CENTRE TO GET $100-MILLION FACELIFT & CANADA'S FIRST EATALY IN EARLY 2019 It's a good day for Italian-food lovers in Toronto. Eataly will be opening in the city's Manulife Centre in early 2019 as part of a $100-million overhaul of the Yorkville mixed-use tower, the popular Italian marketplace confirmed. The new location within the 51-storey building at 55 Bloor Street West will be spread out across three storeys and a total of 50,000 square... [read more]

INTEGRAL HOUSE, A TORONTO ARCHITECTURAL WONDER BUILT FOR $34-MILLION, FINALLY HAS A BUYER Integra House, one of the most storied accomplishments in Canadian architecture, has finally found a buyer after 18 months on the market.  It was the vision of the mathematician and musician James Stewart, built with reverence to both those passions. The 18,000-square-foot house is complex, with curved glass and oak overlooking a ravine in Toronto's Rosedale neighbourhood and a... [read more]

THE TRIUMPHS AND DEFEATS OF THE BRONFMAN WHO CARVED HIS OWN PATH It seems at first a cruel irony that one of the linchpins of Canada's motion picture industry is a man who can hardly move at all. Yet somehow Paul Bronfman, the irrepressible optimist, has not let multiple sclerosis slow him down.  Bronfman, 59, has battled MS for more than 20 years, and no longer has the use of his arms and legs. He relies on personal assistants to feed him, dress him, blow his nose, drive him... [read more]

TORONTO IS NOW CANADA'S HOTTEST REAL ESTATE MARKET Toronto and Vancouver are two of Canada's biggest cities, and also the countries two hottest real estate markets. But according to an economist at TD Bank, the Toronto market is now out-scorching the Vancouver market. As TD Bank's Diana Petramala says in the Globe and Mail the average price of a home in Toronto is up 18% since last year and we hit record sales in August. "Toronto's appreciation in average home... [read more]

BIDDING WARS ERUPT IN HOT TORONTO RENTAL MARKET Looking for that perfect rental property to move into? Get ready for war. What was once unthinkable is now a reality in the City of Toronto, with bidding wars for residential rentals happening in all corners of the city. As a landlord, David Batori has seen it first hand. "We did a recent renovation on a basement apartment and we were asking $1,200 (per month) and it rented for $1,480." Batori had four people bidding on... [read more]

MYSTERIOUS MASKED BRIDE ROAMS THE STREETS OF YORKVILLE She's elicited poetry from a "gangster". Landed in the backseat of a squad car. Raised eyebrows, prompted selfies, attracted creeps and, critically, sparked dialogue around sexual violence. Who is she? Toronto's masked bride, cloaked in mystery and a pearled gown, sat down with the Star to explain why she's spent much of the past four months walking the streets and penning missives on the trauma of... [read more]

HOUSEHOLD DEBT CLIMBS TO RECORD LEVELS, DRIVEN PARTLY BY HOT REAL ESTATE MARKETS The amount Canadians owe compared with how much they earn hit a new record in the second quarter, driven in part by the country's hot housing markets. TD Bank senior economist Leslie Preston said low interest rates have made borrowing more attractive, especially for homebuyers, and predicted the debt ratio could continue to trend a little higher in the next few quarters.  "We think... [read more]

TORONTO'S HOUSING PRICES ARE SO HOT, EVEN THE COST OF HOUSE BOATS HAS DOUBLED Soaring housing prices in Toronto have forced some home buyers to look for more affordable alternatives to the conventional detached home, but prices for one type of dwelling may be on the same boat. House boat prices in the Greater Toronto Area have doubled in the last six years, putting the average cost of a floating home in the range of the average condo.  According to the Toronto Real... [read more]

ONE OF TORONTO'S BEST KEPT SECRETS The Residences of 112 St. Clair Avenue West Address: 112 St. Clair Avenue West Neighbourhood: St. Clair Corridor Most Recent Price per Square Foot: $858 PSF The Property: 112 St. Clair is a premier, boutique condominium in mid-town Toronto, located between Avenue Road and Yonge Street on the north side of St. Clair. Comprising of only 20 luxurious residences, 112 St. Clair is 100% owner occupied - a rare find in... [read more]

HOW MUCH IS DRAKE'S ENDORSEMENT WORTH TO TORONTO? "I got real ones livin' past Kennedy Road." Drake, "Energy" Only Drake can make Scarborough seem exotic, creating a mythology of Toronto's inner suburb through his lyrics and flow. The rapper may have started from the bottom (in Forest Hill), but as his music fortunes rose he took his beloved city with him. There is his three-day OVO Fest at the Molson Amphitheatre. His ambassadorship... [read more]

PRE-CONSTRUCTION CONDOS: SHOULD YOU USE A REALTOR? Should you use a realtor when buying a new pre-construction condo? The answer for this is a definite YES. Toronto Realtor Matt Smith, who specializes in helping buyers navigate through the complicated process of buying new condos, has shared with me the many pitfalls and disadvantages of buyers going at it alone when dealing with the builders' sales staff. Above all else, realize that the builder's sales team works for... [read more]

NEW 59-STOREY TOWER PROPOSED FOR SCOLLARD ST. IN YORKVILLE A residential tower has been proposed by the Cityzen Development Group for the southwest corner of Yonge and Scollard Streets in Toronto's tony Bloor-Yorkville area. Designed by the highly regarded Bruce Kuwabara of KPMB Architects, the 59-storey structure with a marble and white concrete-clad exoskeleton is meant as an architectual gateway to the Yorkville area from the north. 1 Scollard is proposed as a slender tower of... [read more]

GTA HOME PRICES CLIMB 16.8% IN JUNE The uphill journey facing would-be-buyers got even steeper in June with home prices climbing by double digits compared to a year ago as supply hit record lows. The average price of a GTA property last month rose by 16.8% to $746,546 according to the Toronto Real Estate Board. As has been the trend, low-rise houses that includes detached, semis and townhomes saw the most significant price gains. The average detached home in the suburban GTA will... [read more]

WHO'S TO BLAME FOR HIGH HOME PRICES? The Trudeau government is doin' alright, according to the Organization for Economic Co-operation and Development (OECD). Their decision and action to boost the economy through infrastructure spending is considered to be a wise call. But now the Liberals need to turn their attention to the elephant in the room: the residential housing market. At least, this is the nice, neat version of the most recent OECD report; a 160-page analysis of how... [read more]

ONTARIO TRIED A SPECULATION TAX ON PROPERTY AND THE MARKET COLLAPSED OVERNIGHT For decades, Barry Lebow has kept a scapbook of one of the most traumatic business days in his life. There are some dates you always remember, and for the Ontario real estate industry it's April 9, 1974. That is the day the province shocked the sector by announcing a 50% land speculation tax.  "We had no wind of this," said Lebow, now 69. "I was 27 years old and I owned 53 houses... [read more]

SAUDI PRINCE SEEKING SALE OF FOUR SEASONS TORONTO ​Four Seasons owner seeks up to CDN$250-million for landmark hotel. Sale would not include condo portion in Yorkville area. Saudi Prince Alwaleed bin Talal Al Saud is seeking to sell Toronto's landmark Four Seasons Hotel for almost CDN$1-million ($768,000 US) a room in what would be the highest price for a hotel in Canada, according to people familiar with the matter. Kingdom Holding Co., the investment firm owned by... [read more]

REDUCE, POSTPONE OR AVOID REAL ESTATE DEATH TAXES Those soaring values of GTA-area homes has made it an increasingly expensive proposition to die while owning real estate. Huge probate taxes, officially known as estate administration fees and a result of astronomical prices in the overheated market, must be paid by the deceased person's estate. The average $1-million Toronto home, with a mortgage of, say, $450,000, would attract a probate tax of $9,250. Without a mortgage, the... [read more]

THE CONDO FEUD THAT ERUPTED BETWEEN AN IRANIAN FUGITIVE AND A TORONTO MOGUL ​Court case shines light on private condo financing amid boom. Suits allege fraud, negligence, intimidation, conspiracy. Sam Mizrahi, one of Canada's best-known property developers, was building two luxury condominiums in midtown Toronto last year when he says he received a phone call from someone who demanded millions of dollars, threatened to burn his house down and ruin his reputation. The... [read more]

SHARK TANK INVESTOR ROBERT HERJAVEC'S BRIDLE PATH HOME FOR SALE Robert Herjavec may toil in Kevin O'Leary's shadow on Shark Tank, but he's still somewhat wealthy in his own right - wealthy enough that he's been able to hold on to a 33,650-square-foot mansion in the Bridle Path for 16 years. Now, his time as a landowner in Toronto's toniest neighbourhood may be drawing to a close: the house is listed for $18.8 million. The Herjavec home, at 16 High... [read more]

WHY HIGH CANADIAN HOUSEHOLD DEBT IS MANAGEABLE Canadian household debt has swollen to record highs during a period of low mortgage rates, but an economist with Canada's sixth-largest bank says the debt level is "manageable". "Analysts often raise alarm bells by pointing to measures such as debt-to-disposable income. But as we often caution, comparing a stock variable such as debt to a flow variable such as income has its limitations," writes Krishen... [read more]

WHAT'S ON THE MENU AT CAPLANSKY'S YORKVILLE, THE DELI'S NEW FAST-CASUAL LOCATION Name: Caplansky's Neighbourhood: Yorkville Contact: 156 Cumberland Avenue, 416-967-7676, caplanskys.com, @CaplanskysDeli Previously: Tony Bulloni Executive Chef: Zane Caplansky THE FOOD A slightly condensed version of the College Street menu - what Caplansky calls the deli's "greatest hits" - plus a few new items, like latke poutine... [read more]

HOW BREXIT COULD ADD MORE FUEL TO CANADA'S HOTTEST HOUSING MARKETS Canada's economy is facing yet another potential setback as the spillover effects of Brexit threaten to weigh on growth here at home. Direct trade with the UK is a relatively modest figure for Canada. BMO Capital Markets puts it at about 2.5% of our global trade. But the shockwaves go further than just the direct trade channel.  The crash in crude oil prices was the single-biggest weight on the... [read more]

GTA NEW HIGH-RISE CONDO SALES IN MAY FLY TO 2ND-HIGHEST MONTHLY TOTAL EVER There is only one month on record in which a greater number of new high-rise homes were sold across the GTA than this May.  High-rise home sales totalled 3,623 units last month, the second-highest monthly tally after November 2011's and up a blistering 76% from a year earlier, according to the latest data from Altus Group, a real estate data company.  In November 2011, new high-rise sales... [read more]

WHAT YORKVILLE WILL LOOK LIKE AFTER THE CONDO BOOM? The transformation of neighbourhoods by rapidly rising condominiums is happening all over Toronto, but some areas are set for dramatic overhauls that will leave them as entirely different places. Such is the case with Yorkville. There are more than 10 massive condominium and mixed-use projects planned for the small area near Bay and Bloor that will completely revamp it over the next decade. Yonge and Bloor, which serves as one of the... [read more]

IS TORONTO'S WEST QUEEN WEST NEIGHBOURHOOD TURNING INTO THE NEXT YORKVILLE? Mary Sue Rankin has seen it happen before: First come the artists, then the galleries, then the boutiques, then the shuttered storefronts as the neighbourhood becomes too expensive.  Rankin owns the Edward Day Gallery, one of a cluster of galleries including the Museum of Contemporary Canadian Art (MOCA) that closed last summer to make way for a condo project in the heart of West Queen West. Billed... [read more]

3 REAL ESTATE INVESTMENT IDEAS, IF YOU CAN'T AFFORD A HOUSE The housing markets in Toronto and Vancouver continue to sizzle, but you don't have to buy a house to make money in Canada's real estate sector. Many of Canada's REITs continue to offer good value to investors, says Andrew Moffs, Senior Vice President at Vision Capital. A detached house in Toronto now sells for about $1.2-million, putting the dream of home ownership out of reach for many millennials, says... [read more]

TORONTO'S HOUSE PRICES WILL LOOK LIKE THIS IN 10 YEARS, IF TRENDS KEEP UP HuffPost Canada has put together projections of house prices in Canada's largest cities, based on the trends seen over the past three years. The prognosis? Things are going to be really, really expensive, if this keeps up.  A single-family home in Toronto will run between $2.26-million and $3.58-million by 2026, by their projections. But the bad news doesn't just affect people who haven't... [read more]

HOUSE OF THE MONTH A Renovated Yorkville Victorian Address: 71 Hazelton Avenue Neighbourhood: Yorkville List Price: $2,790,000 The Property: A renovated Yorkville Victorian with high ceilings, original fireplaces and marble accents on one of Toronto's most presitigious streets, Hazelton Avenue. The History: The property, built in 1895, was gutted by a previous owner in 2006. The owners had been renting out the house while they travelled abroad.... [read more]

BRACE FOR IT! TORONTO RENTS RISING FASTER THAN CONDO PRICES Would-be homebuyers who have already been priced out of the Greater Toronto Area's white-hot real estate market may be feeling the pinch when apartment hunting, too, a new report suggests.  Increasing home prices are feeding demand for condo rentals as some put their ownership aspirations on hold, and this is driving rents up, according to Urbanation's first quarter 2016 rental market report. "The rental... [read more]

WHY DO RICH PEOPLE INVEST IN REAL ESTATE? And Are Regular Investors Missing Out? Question for you: Why do rich people invest in real estate? Housing prices are at an all-time high in Canada. It just seems so counter-intuitive! Over half a decade ago, financial planners and trusted portfolio advisors started to look for stable, steady returns that could actually beat inflation. The reason? Bond yields were weak and the equity market was volatile. Their clients wanted stable returns... [read more]

CHINESE INVESTMENT IN CANADIAN REAL ESTATE SET TO INCREASE IN 2016 Chinese investors are getting hungrier for real estate in Canada, where foreign demand has fuelled record price gains and made million-dollar homes the norm in cities such as Toronto and Vancouver. Inquiries for Canadian homes on Juwai.com, a property search engine that lists real estate around the world for Chinese buyers, jumped 134% in the first quarter from a year earlier, according to the Shanghai-based company.... [read more]

REAL ESTATE 'CHAOS' SENDS MILLENNIALS SCRAMBLING BEFORE THEY'RE PRICED OUT The modest house in west Toronto wasn't their ideal starter home, but with a little compromise, it was close enough. Besides, it has a newly renovated kitchen and there was a daycare centre right around the corner.  The semi-detached was listed for an enticing $649,000 in a neighbourhood where 30-year-old Elia Briganti grew up, where much of her family still lives and where she'd like... [read more]

TRUMP VS. TRUMP: INSIDE TORONTO'S 5-STAR TOWER STRUGGLE At Trump International Hotel and Tower, the developer is fighting Donald Trump and what it sees as a tainted brand. Trump's management company is not going quietly.  In a 29th-floor superior room at Toronto's Trump International Hotel and Tower, you can eat Trump-branded chocolate wrapped like a bar of gold. Lounging on your king-sized bed in your Trump robe and Trump slippers, you can browse a moody... [read more]

HOMEBUYERS ASK QUESTIONS AS TORONTO-BASED URBANCORP'S TROUBLES KEEP PILING UP Warped, gray plywood lines Curzon Street in the east end of Toronto. The fence ends at a gate, which is padlocked. Behind the gate rises a neighbourhood of prime three-storey townhomes in black brick, which appear largely complete, with wood railings separating one unit's rooftop terrace from the next. Paper taped in the windows indicates the number of each dwelling: "515", "508",... [read more]

YORKVILLE REAL ESTATE UPDATE ...By The Numbers Yorkville's resale condo market roared in 2015 with higher prices and more suites sold as compared to a year ago. The average sale price for a Yorkville condo rose to $1,371,728 up 13.4% from last year. The average sold price per square foot also edged higher to $827 from $798 in 2014.  266 Yorkville condo units sold in 2015, an increase of 18% more than in the previous year. It took an average of 56 days on market to sell... [read more]

CONDO OF THE MONTH A Yorkville Pied-a-Terre in Yorkville's 21 Scollard Street Address: 21 Scollard Street, Suite 104 Neighbourhood: Yorkville List Price: $499,000 The Place: A professionally designed pied-a-terre on the first floor of a low-rise building next to the Four Seasons Hotel & Private Residences. The History: A landscape architect and his designer partner bought this one-bedroom a couple years ago, not to live in, but as a place to... [read more]

PRE-EMPTIVE OFFER HEADS OFF BIDDING WAR ON CONRAD BLACK ESTATE The highly-anticipated auction of Conrad Black's Toronto mansion was called off when a pre-emptive offer landed just as the bidding was set to begin.  Participants who had gathered at the Four Seasons Hotel Toronto were left to sip wine and snack on hors d'oeuvres as the clock ticked past the 6pm start time. Less than 10 minutes later, they were informed by a representative of the auction house that... [read more]

BUYER BEWARE! How Some Builders Are Overcharging For Taxes Thousands of purchasers of new condominiums are being overcharged for property taxes. Here's how it works: when a new condominium is ready for occupancy, the buyer gets the keys and can move in - but title will not be transferred for some months. The period between occupancy and the final closing, when title is transferred, is called the "interim occupancy period." During this time, buyers pay the builder a... [read more]

OASIS ECO-RESORT COULD BE THE GREENEST GETAWAY ON EARTH Located in the heart of the UAE Desert Going on vacation usually isn't the most environmentally conscious thing you can do.  Just think: A Boeing 727 airliner burns 5,000 pounds of fuel in an hour, while cruise ships spew a billion gallons of sewage into the world's oceans. The former only gets you where you're going, and the latter turns the ocean into a toilet.  Feeling the pang of traveller's... [read more]

IS TORONTO GETTING A NEW APPLE STORE? A RUMOUR RUNDOWN The Eaton Centre Apple Store is a harrowing place to visit. It's continually packed with a 50-50 mix of blue-shirted Apple employees and flustered customers - and, what's more, it's the only place in the city centre where it's possible to get in-person customer service for an Apple device. The place's unpleasantness has touched the life of any downtown-dweller who has ever shattered an iPhone screen. (which... [read more]

5 REASONS WHY THE TORONTO LUXURY CONDO MARKET IS ABOUT TO EXPLODE "The Ritz Carlton continues to be one of the best bargains in Toronto. I think, in time, we will look back in future years in disbelief at the prices that people are getting these units for..." I wrote those words in the fall of 2012. At the time, units at the Rtiz Carlton (183 Wellington) were going for around $700 per square foot. I urged my clients to invest in the building, arguably one of the most... [read more]

GTA HOME SALES BREAK FEBRUARY RECORD As New Mortgage Regulations Take Effect Purchasing a home in Canada just got more expensive for certain buyers as new mortgage down payment rules came into effect halfway through February. However, a record number of homes still changed hands that month across the Greater Toronto Area. A total of 7,621 home sales were registered through the Toronto Real Estate Board's MLS System in February, a 21.1% increase over the same month in 2015,... [read more]

TORONTO HOMES NEAR THE SUBWAY ARE WORTH 14% MORE THAN THE CITY AVERAGE Location. Location. Location. "Steps to the subway" is a phrase so commonly uttered by Toronto home hunters and branded on real estate ads that it begs the question - what really warrants the term walking distance? Anything 5 minutes or less is a no brainer, but after posing the question to a handful of condo seekers, some doubts arose about anything over the 10-minute mark. "When it feels like -20... [read more]

TORONTONIANS TURN TO CONDOS AS DETACHED HOME COSTS STAY HIGH The Toronto market is experiencing a growing disconnect between the price of a single-family home and a condominium. While pursuing MLS listings of Toronto single-family houses, one would get the impression that one- and two-million dollar homes are not out of the ordinary these days. Once again, the condominium market seems to be the more affordable option for first-time buyers who want to continue to live in the... [read more]

CONDO OF THE MONTH $1.3-Million For a Condo in 8 Sultan - across from the Windsor Arms Address: 8 Sultan Street, Suite 601 Neighbourhood: Yorkville List Price: $1,269,000 The Place: A two-bedroom condo across from the Windsor Arms. The History: The building was built in 1999, but every room was upgraded shortly before the current owner purchased it last November. The big overhaul included opening up the living-dining space, raising the ceilings to... [read more]

9 THINGS TO DO FOR THE HOLIDAYS IN TORONTO Stroll: Toronto Christmas Market Starting November 20, the Distillery District's annual holiday street market embraces just about every festive theme on this list. Indeed, because there's so much to take in - local vendors and craftspeople, food stalls galore, family-friendly entertainment, a Ferris Wheel, beer gardens and, of course, Santa and his reindeer. The European-inspired extravaganza is a festive browser's delight. Holiday... [read more]

IF YOU HAD $1-MILLION... You Could Buy a One-Bedroom Condo in Toronto It's not llamas, emus or even a whole house. Unlike the classic Barenaked Ladies song, If I Had A Million Dollars, that kind of money will net you a mere one-bedroom condo in Toronto. However, at the very top of the pricy condo market, just six of the city's 10 most expensive units cost more than $1-million. Practically a bargain! We have compiled a list of the 10 most expensive one-bedroom condos in... [read more]

YONGE & BUSY! Big Deals Are On Tap That Will Reshape Canada's Hottest Retail It has been called the busiest intersection in the country. The traffic alone is relentless - in a 24-hour span 401,250 subway riders; 51,392 pedestrians; and 31,600 vehicles pass through where Toronto's Yonge and Bloor streets connect. Now developers have plans to add even more to the mix at the intersection, the cross-section of the city's two subway lines and a growing destination point... [read more]

TORONTO CONDO PRICES COULD SKYROCKET 40% Predicts Major Developer A major real estate developer is brushing off fears of a bubble in Toronto's red-hot condo market. "My prediction, and I've been pretty accurate to date, is we are going to have a 30% to 40% increase in values of the condo market in downtown Toronto over the next three to four years," Barry Fenton, CEO of Lanterra Developments, told BNN in an interview on December 3rd. He later clarified he... [read more]

SIMEONE NAPOLI  Yorkvillers have a new place to go for Italian suits made from fine silk, cashmere and merino wool blends. After hosting a swanky pre-launch trunk show at the Shangri-La last spring, Milanese label Simeone Napoli has set up its first permanent home in Toronto. Shoppers will find racks full of slick head-to-toe ensembles - but much of the menswear on offer is slightly more playful, and meant for mixing and matching. It's all about layered looks: the brand's... [read more]

TORONTO RESTAURATEUR LOOKS TO LA & MIAMI TO GROW WITH GUSTO Janet Zuccarini opened Trattoria Nervosa in Toronto's Yorkville district 20 years ago. It took another 15 years for her to invest in more restaurant concepts in the Toronto area, including Gusto 101, Pai Northern Thai Kitchen, Chubby's Jamaican Kitchen and Gusto 501, opening soon. And she launched a catering division this year. Now she's poised to transform her local success into a global restaurant group under... [read more]

WHY ANALYSTS SEE NO QUICK END TO THE HOUSING BOOMS In Toronto and Vancouver "Job creation has actually been quite strong in Toronto and Vancouver in recent quarters when compared to the national average," chief economist Stefane Marion said. "Large inflows of permanent immigrants (about 240,000 in the past year) coupled with the misfortune of commodity-producing regions have redirected inter and intra-provincial population migration flows towards Toronto and... [read more]

CONDO OF THE MONTH $2.9-Million For a Condo in 1 St. Thomas - an Art Deco Building Near U of T Address: 1 St. Thomas St., Suite 7C Neighbourhood: Yorkville List Price: $2,899,000 The Place: A seventh-floor apartment in an eight-year-old Art Deco-style building located just north of Queen's Park, the University of Toronto campus, just south of Yorkville's Mink Mile, and across the street from the elegance of the boutique hotel, Windsor... [read more]

HOW HEALTHY IS OUR REAL ESTATE MARKET? In September 2015 Canadian Housing Starts Jump as Toronto Condo Building Booms Canadian housing starts unexpectedly jumped in August from July as condo building surged to meet demand for lower-cost options in the nation's hottest market, extending a housing boom that is one of the few bright spots in Canada's otherwise tepid economy. Last week's report from the Canada Mortgage and Housing Corp. showed the seasonally adjusted... [read more]

TOP TAX FRIENDLY TOWNS Gravenhurst The majority of the communities in Northern Ontario's Muskoka Region are revered as recreational hotspots, but more investors are realizing that there is more to towns like Gravenhurst than just cottages and a leisurely lifestyle. Gravenhurst is a smaller market, but its real estate market has many big things going for it. The property inventory is both varied and affordable, and the low property taxes make the area more appealing to investors.... [read more]

TORONTO CONDO DEVELOPERS Head Directly to China to Court Buyers As they settle in, Toronto real estate agents walk to the front of the room, speaking rapid-fire Mandarin in their Henan accent. "Toronto's people are pretty nice to outsiders, so there's no discrimination against different people who come from other places," they say, before launching into a detailed explanation of buying in Canada. They cover immigration, bank loan procedures, the differences in how... [read more]

GET $1,000 OF MONTHLY RENTAL INCOME From RioCan Real Estate Investment Trust Some investors buy properties and rent them out to receive rental income. Those properties require a huge amount of capital up front. By investing in real estate investment trusts (REITs) instead, investors can invest a small amount and still receive a juicy monthly income. Additionally, a professional management team takes care of the properties and the tenants, so you don't have to. Furthermore, by... [read more]

LIVE IN STYLE at The Rosedale on Bloor Rosedale has for more than 150 years been Toronto's oldest and most prestigious neighbourhood, home to the original city founders and today's most storied families and homes. The Gupta Group is presenting the rare opportunity to live at the new edge of Rosedale with the launch of The Rosedale on Bloor, a sleek and stylish 52-storey condo tower at Sherbourne and Bloor, bringing a new and modern edge to Canada's most venerable... [read more]

HOT REAL ESTATE MARKETS  Driving Canadian Household Wealth Canadians grew wealthier in 2014 as they saved more money while slowing their pace of borrowing, leaving many households better prepared to weather falling oil prices and recent economic downturns. Household debts climbed 2.9% on average last year while assets grew 5.5%, pushing average household net wealth to $589,511 in Canada, according to the latest WealthScapes analysis by Environics Analytics. The latest report... [read more]

THE BENEFITS OF OWNING MULTIPLE PROPERTIES Investing in Real Estate Investing in cash-flowing real estate is obviously a benefit for an investor, especially if that investor holds onto the property for a long period of time. Every cash-flowing property has three income streams: cash flow, mortgage pay down, and the appreciation of the property.  CASH FLOW: The rent collected, minus the expenses. A modest cash flow on a single-family home in any of the large Canadian markets... [read more]

METROPOLIS Ranks The Best Cities To Live, Work & Play In  #1 Most Livable City: Toronto After four chaotic years under car-loving, crack-smoking former mayor Rob Ford, life in Toronto has returned to normal. Fortunately, the city's "weak mayor" system gives the chief magistrate, like council's other 44 members, just one vote. In other words, even the worst administration can only inflict limited damage. The city is no longer tearing itself apart and has... [read more]

HOUSE OF THE MONTH $5.2-Million For a Freshly Renovated, Window-Lined Row House in Yorkville Address: 114 Hazelton Avenue Neighbourhood: Yorkville List Price: $5,200,000 The Place: A four-bedroom, four bathroom newly renovated Yorkville row house with some serious architectural cred. The History: Built in 1984, the home was designed by Barton Myers, a prolific architect whose work includes the revamped Royal Conservatory of Music, Wolf House and... [read more]

MALL WAR  How Redevelopment of the Former Hazelton Lanes Sparked a Poisonous Feud in Wealthy Yorkville The Great Battle of Yorkville broke out into active combat in the fall of 2014, when June Mitchell, an 86-year-old grandmother, staged a sit-in at a mall developer's office. It was nearing Yom Kippur, the Jewish high holiday, and Mitchell had a dinner planned. She had the food set and the timing down. Everything was ready to go. Until, all of a sudden, it wasn't. Eight... [read more]

TATTOO SHOP  Symbolizes Yorkville's Ongoing Transformation From the stoop of Teatro Verde - a retail aerie of gentility and florals, housed in a facade that is one of the oldest in Toronto - the proprietors of the Yorkville stronghold look directly out to a zippy, new neighbour. It's one that accompanies a motto that blares, "If you think it, we ink it." The opening a few months back, of the Village Ink, right smack in the heart of the block, was enough to... [read more]

PROTECTIVE EYES AWAIT PUBLIC ART  At Yorkville Development Everyone who works, lives or strolls around downtown Toronto has seen the public artworks that private developers (with encouragement from City Hall) have been putting on our streetscapes for years. As it happens, we will soon have new installations at three more residential sites, one in Yorkville and two on St. Clair Avenue West, courtesy of Camrost Felcorp and the development firm's CEO, David Feldman. I can't... [read more]

TRUMP EXECUTIVE TO CANADIAN REAL ESTATE BEARS "You're Fired!" George Ross, Executive Vice President and Senior Counsel to the Trump Organization, tells BNN Canada's real estate market still has plenty of room to grow. "Canada is a vibrant economy and some people ought to step in and take advantage of it," says Ross. "I think it's under-utilized, not over-utilized." Ross has been the business and legal advisor to U.S. real estate magnate... [read more]

CANADA SEEN AS 'NEW SWITZERLAND' Driving Toronto's Condo Market The city of 2.8-million attracts about a quarter of the 250,000 immigrants who arrive in the nation each year. That's helping drive demand for new housing, including condos and rental property, developer Sam Mizrahi said at the Bloomberg Economic Series Canada Summit in Toronto. "Immigration keeps the market buoyant," said Mizrahi, "Canada's seen as the new Switzerland." Developers... [read more]

YORKVILLE REAL ESTATE UPDATE April 2015 Transaction volumes remained unchanged from last month, volume is down considerably from the annual average. One noticeable element of the Spring 2015 market is the lack of inventory. Inventory is uncommonly low meaning we are currently in a seller's market. The buyers remain strong and active, but their pool of options are somewhat limited compared to previous years. The average price of a Yorkville condo fell last... [read more]

FORMER COUPLE BATTLE IN COURT OVER $30-MILLION YORKVILLE CONDO High Stakes Battle Between Separated Couple Comes Down To This: Who Gets The Penthouse at The Four Seasons In Sarah Pursglove's own words, she lived a "luxurious and privileged lifestyle" during her marriage to Robert Oesterlund. That would not be an exaggeration.  The European couple, who made their fortune primarily through Internet ventures, and their two children travelled often - usually aboard... [read more]

THE 10 TALLEST BUILDINGS IN TORONTO BY 2025 There was a time when the Royal York Hotel was the tallest building in Toronto. At 134 metres from the sidewalk to the tip of its Chateau-style roof, the grand railway hotel ruled downtown, "a mountain over city and lake," for two years before completion of Commerce Court at Bay and King. Eighty years later, it's hard to spot the venerable old Royal York among the downtown office buildings. For buildings, being tall doesn't... [read more]

WHAT THE TORONTO ISLANDS FERRY TERMINAL MIGHT LOOK LIKE IN A FEW YEARS ...If Waterfront Toronto Gets Its Way What it is: An undulating wooden structure designed by KPMB Architects, West 8 and Greenberg Associates as a replacement for the aging, cruddy Toronto Islands ferry terminal, now known as the Jack Layton Ferry Terminal. This concept was announced April 10th, 2015 as the winner of a design competition led by Waterfront Toronto. Price tag: Unknown at this point.... [read more]

TORONTO'S YORKVILLE NEIGHBOURHOOD IS DROWNING IN DOG POOP "It's everywhere," the co-president of ABC Residents Association in Yorkville says. "It's all over the parks, it's on the sidewalk outside Holt Renfrew." The "it" Caliendo is referring to is dog poop. Yorkville is ground zero for the city's condo boom, and with the new development has come dogs. Lots of them.  And with the dogs has come poop. Lots of... [read more]

YORKVILLE SEES HIGH-END RENTAL APARTMENT DEAL The Ever Growing Price Gap Hollyburn Properties Limited has further expanded into Ontario with the acquisition of a high-end rental apartment building in Toronto's Yorkville neighbourhood. The $42.5-million deal garners a 10-storey, 125-unit residential building on Avenue Road and two smaller lots on nearby Hazelton Avenue, a popular shopping a residential street at the heart of the district.  "The potential is very... [read more]

HOW TALL CAN WE GROW? Yonge & Bloor Condos Break Barriers There's no denying that Toronto is a vertical city. Toronto has the second highest number of high-rises of any North American city and is building new towers faster than any other city in the western hemisphere. With dramatically increasing urban populations, and the commercial and infrastructure requirements that come with that, we need to build up in order to accommodate density. In response, Toronto real estate... [read more]

IT'S NOT JUST YOU Almost Every Housing Prediction Was Wrong For the last six years, Canadians have been plagued by constant predictions of a housing crash coupled with dire warnings that homes are overvalued by 20% to 35% - and yet, year after year housing prices keep going up, as is shown below. Take last year, when prices increased by 6%, despite the Bank of Canada forecasting a possible 30% market correction. Or go back to 2010 when prices increased by 6.8%, despite the... [read more]

TORONTO CONDO MARKET IS BOOMING ONCE AGAIN It Has Come Roaring Back to Life Builders were putting the finishing touches on nearly 10,400 new condo units in January, eight times more than the monthly average over the past decade, Bank of Montreal senior economist Sal Guatieri said in a report last week. The vast majority of the new condo units have already been sold. Still the influx of new units has helped push the number of unabsorbed condos - those that have been built but not sold... [read more]

WHY CONDO LIVING WILL BECOME THE NEW NORM IN ONTARIO The Ever Growing Price Gap The already expansive price gap between condos and detached housing in the Greater Toronto Area (GTA) will continue to expand towards the end of the decade as new detached development is squeezed against the walls of the protected Greenbelt and overwhelmed by mature millennials looking for backyards. That's according to a new study from the Bank of Montreal examining how changing supply and demand... [read more]

TORONTO RANKS NEAR TOP IN THE WORLD FOR NUMBER OF ULTRA-RICH RESIDENTS This might not be news to millionaires, but Toronto is one of the most important cities in the world for the incredibly rich.  The 2015 Wealth Report, prepared by real estate consultancy Knight Frank, lists Toronto as the 12th most important city on the planet for ultra-high-net-worth individuals - or UHNWIs, as the report refers to them. According to the London-based group, that means people with a net worth... [read more]

YORKVILLE REAL ESTATE UPDATE March 2015 Cliche yes, but still an important and critical factor - our weather. The February that just passed was a historically cold and harsh month and unfortunately these temperatures of -30 and -40 tend to postpone the decision making process of many potential buyers throughout the city. Although transaction volumes were down a mere 1.3% from last month, volume is down considerably from the annual average. As we progress into the spring... [read more]

A VISUAL HISTORY OF BLOOR STREET It's time Bloor got it's recognition, other than the Yonge & Bloor intersection. Although much attention has been given to the intersection of Yonge and Bloor, the rest of the street hasn't received its well-deserved time in the spotlight. That's a bit of an oversight when you consider just how important an artery it is for this city.  Bloor gets somewhat overlooked when talking about Toronto's grand streets because... [read more]

FASHION ICON KARL LAGERFELD TO STYLE LOBBIES AT ART SHOPPE LOFTS AND CONDOS ON YONGE Designers elevate a new development's profile, aesthetic and overall appeal. World famous fashion design icon Karl Lagerfeld is coming to a lobby near you.  Actually, it will be two lobbies - both serving the same project: Art Shoppe Lofts and Condos on Yonge Street, just south of Eglinton Avenue. It's the first Canadian building initiative to be guided by the celebrity creative director... [read more]

SOTTO SOTTO REOPENS Steps Away From Original Yorkville Location Popular Yorkville restaurant Sotto Sotto has reopened its doors at a new location - just steps from its original Avenue Road storefront that burned down on Christmas Day. It will be located at 120 Avenue Road, two doors north of the original location. The new restaurant is serving only on weekends while renovations continue. Once renovations are complete, full service will resume. "We would ask that our loyal... [read more]

TORONTO CONDO MAINTENANCE FEES: STATS, FACTS AND MYTHS Maintenance Fees Revealed Toronto condo maintenance fees have long been a mystery. For the first time, it has been revealed the true costs include breakouts for individual amenities like parking and lockers.  Fees are not an apples-to-apples comparison as amenities and services vary widely. But knowing the city-wide statistics give buyers and condo owners a benchmark to assess the suitability of fees in their... [read more]

FATE OF PEDESTRIAN SCRAMBLE RAISES QUESTIONS ABOUT TORONTO'S PRIORITIES The Bloor-Yorkville Business Improvement Area and Transportation Staff Recommend the City Revert to a Traditional Intersection Using a scramble crossing can prompt a strangely liberated feeling. With all vehicle traffic stopped, pedestrians take over the intersection, walking freely in every direction. For a few seconds, pedestrians own the whole road. It's evidence that - at least in that moment and place -... [read more]

JOHN LENNON PRINTS ON DISPLAY IN YORKVILLE February 14, 2015 to March 13, 2015 Peace. And love.  Few other words best encapsulate the music, works and legend of late Beatle John Lennon, and that theme of peace and love will be the backdrop of an art exhibit inside a small gallery in Toronto's Yorkville neighbourhood over the next four weeks. Around 70 limited edition posthumous prints of Lennon's artwork will be on display and for sale at the Liss Gallery, near Bloor... [read more]

Cumberland Terrace Tells The Story of Yorkville at a Glance. While most time capsules are buried in the foundations of buildings, their contents to be revealed at some future date, Cumberland Terrace is a living (if barely breathing) piece of Me Decade retail architecture frozen in time. Promoted as "the nicest way from Yonge to Bay" when it opened in October 1974, the mall's resistance to modernization - orange and brown tiles, large banks of phones, signage for... [read more]

  SOTTO SOTTO HOW A SMALL RESTAURANT BECAME A 'SECOND HOME' FOR A-LISTERS On Christmas night, a still-unexplained fire destroyed the building at 116 Avenue Rd., home to Spuntini restaurant on the top floor an the aptly named Sotto Sotto (Italian for underneath) in the basement.  Many Yorkville residents were tipped off to the three-alarm disaster via the throngs of smoke and screaming sirens. Ninety firefighters worked to put out the blaze, which officials... [read more]

T O R O N T O IT DOESN'T GET ANY BETTER THAN THIS Toronto has been recently ranked the best city to live in the world by international magazine The Economist. The ranking aggregates Toronto's performance across a range of indexes, which include safety, livability and cost of living. National level rankings like the Economist's Democracy and Global Food Security Index were also factored into the overall rank. So, we're the best...Torontonians, give yourself a pat on... [read more]

TO BUY OR RENT IN FLORIDA, PART II Why you should think twice about buying in Florida I came across two surprising statistics recently. The first was a report from the Florida Department of Tourism that 3.8 million Canadians visited the state in 2014. That's more than 10% of our entire population! The second is related to the combeack in Florida's real estate industry since the credit crunch of 2008-09 caused prices of residential homes to plunge, in some cases by more than... [read more]

TO BUY OR RENT IN FLORIDA, PART I ...that is the question. When they got tired of trying to find the right rental property, Miriam and Bryan Gardner decided it was time to buy. It sounds like the typical explanation you might hear from a Canadian buyer in today's red hot real estate market but in this case it's Florida where tight rental markets have made financing accommodation more difficult than ever, especially for those Canadians looking for short-term rentals for their... [read more]

Change Remains The Constant in Yorkville.   Impeccably dressed in a crisp black blazer and plaid Moschino pocket square, with a vodka martini in hand, designer William MacDonald surveys the early evening streetscape at Bay & Yorkville. His perch is the plush dbar in the Four Seasons Hotel. It's a scene MacDonald has watched for decades since first venturing into Yorkville from his home in the Beach at an impressionable age of 16. "We'd go to the Ralph Lauren store at... [read more]

Danger in Paradise. Some Frightening Moments at a Yorkville Hotel. Police arrested a 29-year old man inside a luxury hotel in Yorkville on the Saturday morning of September 11th, 2014 after they allegedly found him in possession of a pellet gun. Around 6 a.m., Toronto police received a call to the Hazelton Hotel, located at 118 Yorkville Avenue, about a man who was seen with a weapon.    Officers evacuated rooms in the vicinity of the suspect's location.... [read more]

Stay tuned for my latest ideas, news and tips on real estate! I will also be posting my monthly publication called The Yorkville Report. This newsletter has a subscriber base of thousands of homeowners, investors, and people interested in everything Yorkville. It is read internationally and seen as one of the premier, accurate and informative newsletters available with respect to Yorkville Real Estate. [read more]