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]

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]

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]

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]