There were a total of 6,677 new condominium apartments sold across the GTA during the third quarter of this year. That amounts to a 73% increase year-over-year, allowing sales to reach the highest level of third quarter activity on record. Sales were 58% higher than the 10-year average for Q3 periods, as well as 12% higher than the previous record for the period, which was set in 2007. Total unsold inventory in development dropped 33% year-over-year to 11,485 units, the lowest level it has been since Q1-2007. The average selling price for a new condominium apartment continued to climb, rising 2% year-over-year to $590 per square ...
New Condo Sales in Toronto Soar 73% in Q3
November 23, 2016Market Reports New Construction Projects New Toronto Condos New Toronto Lofts Toronto Condo Buyers Toronto Condo Information Toronto Condo Market News Toronto Condo News Toronto Real Estate News
Pre-Construction Condos: Should You Use a Realtor?
August 1, 2016First-Time Buyers Investing in Real Estate New Construction Projects New Toronto Condos New Toronto Lofts Real Estate Tips Toronto Condo Buyers Toronto Condo Information
Should you use a realtor when buying a new pre-construction condo? The answer for this is a definite YES. I specialize in helping buyers navigate through the complicated process of buying new condos. There are many pitfalls and disadvantages of buyers going it alone when dealing with the builders’ sales staff. Above all else, realize that the builder’s sales team works for the builder and only the builder. That is where their loyalties lie. They simply have zero interest in protecting you or your rights, or in getting you the best deal or best location within the building. By using a pre-construction condo ...
Car-Free Condos on the Rise in Toronto
March 29, 2016
No parking? No problem. A boutique loft building in Toronto’s downtown core is set to become the city’s second car-free condominium. The 15-storey development at 24 Mercer St., which was recently given the go-ahead from the city after years of back and forth, will include 14 residential units – just one per floor – and absolutely no parking spots. Nearly 30 bicycle parking spots will be provided, however. If residents really need a place to park, they’ll be able to rent one from nearby developments with spots to spare. Years ago, developers would have been expected to build two ...
How to Get the Most Out of Your Pre-Construction Condo Purchase
October 23, 2015First-Time Buyers Investing in Real Estate New Construction Projects New Toronto Condos New Toronto Lofts Toronto Condo Buyers Toronto Condo Information
Whether you’re an investor or an end-user, buying a condominium during the pre-construction stage can have several advantages. For one thing, if you’re prepared to wait the average two or three years for the building to be finished, you will own the newest building on the block. That brings the peace of mind knowing that you’ll have the lowest maintenance fees and highest reliability. Buying pre-construction can also save you 5% or more on the purchase price, by the time the project is complete. One of the biggest advantages of a pre-construction purchase is that you’re splitting up the down payment. It ...
More Condominiums Coming, As Toronto’s Residential Land Prices Reach New Highs
August 2, 2015Investing in Real Estate New Toronto Condos New Toronto Lofts Toronto Condo Buyers Toronto Condo Market News Toronto Condo News Toronto Real Estate News
"Residential land prices reached new highs in Toronto in the second the quarter of 2015 as developers bet the housing boom will continue in Canada’s largest city, according to a new survey. Residential land purchases accounted for 27 per cent of the $3.6 billion in property spending in the second quarter, beating out other classes like industrial, retail and office space. There were a record 143 residential deals done in the quarter and more condominium development appears to be in Toronto’s future with $420 million of the $856 million spent on high-rise development. Prices of condo lots hit record highs, although the ...
Gap Between Toronto Condos and Low-Rise Homes Jumps a Record $100,000 from Last Year
June 25, 2015New Construction Projects New Toronto Condos New Toronto Lofts Toronto Condo Buyers Toronto Condo Information Toronto Condo Market News Toronto Condo News Toronto News Toronto Real Estate News
"There is no end in sight to the rising price of new low-rise homes relative to high-rise condominiums in Canada’s largest city, say Toronto builders. A new report from the Building Industry and Land Development Association says the average price of a new low-rise home, which includes detached, semi-detached and townhomes, was $783,995 at the end of May. That’s a 16 per cent jump from a year ago. Meanwhile, the average price of a new high-rise condominium was $440,463, relatively unchanged from a year ago. The gap between the average new high-rise and low-rise home jumped $100,000 from a year ago and now sits ...
Toronto Condo Construction Heating Up Again
June 23, 2015New Construction Projects New Toronto Condos New Toronto Lofts Toronto Condo Information Toronto Condo Market News Toronto Condo News Toronto News Toronto Real Estate News
"Condo construction jumped to a two and-a-half-year high in May, the country’s housing agency said Monday. The number of home starts nationally accelerated last month to a seasonally adjusted rate of 201,705 units from 183,329 in April. Multi-unit starts, the term used by experts for condos and apartments, in urban areas accounted for most of the total number of annualized starts in May, or 122,367, an increase of 16.9 per cent from April. Construction of single-detached houses in urban areas was steady at a seasonally adjusted rate of 58,868 units. In part reflecting the building boom in Toronto’s condo segment, the average ...
Thinking About Investing in a Pre-Construction Condo?
June 7, 2015Downtown Toronto Condos Investing in Real Estate New Construction Projects New Toronto Condos New Toronto Lofts Toronto Condo Buyers Toronto Condo Information Toronto Condo Market News Toronto Condo News Toronto Real Estate News
"People that work outside the condo industry are heavily influenced by what they see and what they read. If you drive down the Gardiner Expressway into downtown Toronto, condominium apartment buildings are popping up like dandelions. Seemingly every week, Torontonians are warned about the impending doom that all these condos will bring to buyers in the GTA and the overall Canadian economy. I typically start by stating the facts — the new and resale condo markets are up in the GTA, and condo rents are also up. All of this has occurred despite the massive influx of new supply, nearly ...
Who Inspects New Condo Construction?
March 24, 2015New Toronto Condos Toronto Condo News Toronto Condo Buyers New Construction Projects Toronto Condo Information New Toronto Lofts First-Time Buyers
Howard Bogach is president and CEO of Tarion Warranty Corp., a private corporation established in 1976 to protect the rights of new home buyers and to regulate new home builders. His following article was published in the Toronto Sun. "For the past few years, I've watched a condo tower being built from the ground up right outside my office window.I witnessed trades people working with concrete, steel, wood and glass through cold, heat, snow and rain. I’ve watched this 42-storey condo building go all the way up — floor by floor — and now people have begun to call it home. Even though the one ...
Art Shoppe Condos + Lofts - VIP Broker Sales
March 4, 2015Midtown Toronto Condos New Toronto Condos Toronto Condo Listings Toronto Lofts VIP Broker Events Investing in Real Estate Toronto Condo Buyers New Construction Projects New Toronto Lofts First-Time Buyers
Freed Developments will be holding a VIP Broker Sales Event coming very soon, for one of Toronto's most highly anticipated projects in midtown Toronto, the Art Shoppe Condos + Lofts. This project will be Yonge & Eglinton's flagship development of the future. With the Crosstown LRT expected to arrive in 2020, this area is expected to become a major transportation hub in Toronto. The Art Shoppe Condos + Lofts will sit on Toronto's historical Art Shoppe Furniture store which has been Canada's largest home furnishing store since 1936. In order to preserve this iconic site, Freed Developments is taking all the ...