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]

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]

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]

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]

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]