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]

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]

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]

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]

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]