Pre Covid, the common theme when purchasing a home was to drive until you qualify, in other words, the further out you go from the Toronto core, the cheaper real estate was. Since covid this entire phenomenon has been turned upside down. With real estate assets at record highs and little in the way of cost savings by going further out of the Toronto core, the most common question I get from...
A trick question, it’s both, yet the elephant in the room doesn’t seem to get much attention. Interest rates being front and center when it comes to affordability, on the demand side – based on population growth, immigration is a massive driver for the ever-increasing real estate demand in the Greater Toronto Area. The GTA on average absorbs 35% of all newcomers to Canada yet new home...
One of the most common concerns by those considering condos as investments is that rent doesn’t cover taxes/maintenance fees/mortgage, leaving them to subsidize the purchase and making the investment ‘cashflow negative’. A valid concern and something that was not the case up until a few years ago when capitalization rates on residential real estate became more suppressed. This model walks through...
Will we ever see pre construction projects in the Toronto core for less than $1,500/per square foot (PSF)? It certainly doesn’t seem like it. Assuming the government maintains its aggressive immigration targets and city hall keeps the status quo on its inability to process development applications in a timely manner, there are 3 main catalysts outside of government involvement that will push prices...
"As Toronto’s rental market continues inching toward a recovery after bottoming out earlier this year, a big boost in tenant demand could be on the horizon during the fall months. The average rent price across all rental property types in the Toronto region rose on a monthly basis in May, according to the latest data and commentary from Rentals.ca. Prices for Toronto condo and apartment rentals were...
Currently, foreign nationals who hold a valid Confirmation of Permanent Residence approved on or before March 18, 2020 are allowed to enter Canada. As of June 21, 2021, any foreign national who holds a valid Confirmation of Permanent Residence will be allowed to travel to Canada. Immigration, Refugees and Citizenship Canada will work with applicants who have a Confirmation of Permanent Residence that is...
“Much of the inner-workings in our industry come under fire because outsiders lack information and/or understanding. Our market is extremely complex, fast-paced, and while some people like to think that the job is easy, or that “houses sell themselves,” they have absolutely no idea what they’re talking...
“In last month’s report, I discussed how, in the wake of the Covid-19 pandemic, we saw a significant increase in the share of investors who were selling their Toronto condos due to a decline in both prices and rents, as residents fled the city core amidst widespread office, workplace and school closures. This trend gradually began to decline as prices started to rise again due to a boom in downtown...
