Toronto downtown benefits in growing Hyper-concentration of knowledge jobs in a permanent shift Toronto downtown benefits in growing Hyper-concentration of knowledge jobs in a permanent shift

  Toronto downtown benefits in growing Hyper-concentration of knowledge jobs in a permanent shift   A fundamental economic shift is Toronto downtown is gaining from ‘Hyper-concentration’ of knowledge jobs in a permanent shift as traditional manufacturing employment evaporates across much of southern Ontario, a new report warns, and the trend has major ramifications for public transit and land-use planning.   The study, released days after General Motors announced the shutdown of its assembly plant in Oshawa, Ont., says the lopsided job growth is a permanent change, not a cyclical pattern. It warns Toronto’s transit system will be placed under further strain.

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New Rent control rules may bring back sky-high rent increases for Toronto condo tenants New Rent control rules may bring back sky-high rent increases for Toronto condo tenants

            New Rent control rules may bring back sky-high rent increases for Toronto condo tenants   With new Rent control rules and the province of Ontario scrapping rent control for new units across Ontario as of November 15, 2018, affordable housing advocates are warning that the changes could mark a return to sky-high rent increases for thousands of Toronto tenants.   The Progressive Conservative government revealed the details on November 15, 2018 through the fall economic statement, announcing legislation which ends rent control for all newly-built or newly-converted rental units going forward — while maintaining rent control

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TREB Announced January, 2019 Market Stats TREB Announced January, 2019 Market Stats

  cond TREB Announced January, 2019 Market Stats   TREB President Garry Bhaura announced that Greater Toronto Area REALTORS® reported 4,009 home sales through TREB’s MLS® in January 2019 – up by 0.6 per cent compared to January 2018. On a preliminary seasonally adjusted basis, sales were up by 3.4 per cent compared to December, 2018. “It is encouraging to see the slight increase in January transactions on a year-over-year basis, even with the inclement weather experienced in the GTA region during the last week of the month. The fact that the number of transactions edged upwards is in line

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Happy New Year 2019 Happy New Year 2019

                                                            Happy New Year 2019 Congratulations Wish you all the best throughout Year 2019 Max Seal Team iPro Realty, Brokerage, Toronto   Please follow and like us:http://www.maxtorontocondos.com/happy-new-year-2019/

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Toronto condo market price growth expected to slow down in 2019 Toronto condo market price growth expected to slow down in 2019

          In the real estate obsessed Toronto region, 2018 was the year of the condo — again. Condo prices have been rising for the past three (3) years. The conditions that made it tougher to buy a house this year — tighter mortgage qualification rules, higher interest rates — contributed to strong demand for condos, which have emerged as the default first home choice and the obvious housing for the workforce that has flocked into  and some of the 905-area municipalities.   New construction condo prices (the category also includes stacked town homes) were up 12

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Toronto condo buyer could buy old condo for higher return in 2019 Toronto condo buyer could buy old condo for higher return in 2019

            Toronto condo buyer could buy old condo for higher return in the condo market in 2019.   What’s the best Toronto-area condominium investment you could have made in the past five years? Maybe a sweet deal on a presale that could be worth a lot more when it’s finally finished or perhaps you’re betting a brand new penthouse on King West is going to go up and up in value.   According to data compiled by Urbanation Inc., the best increases in valuation across condo land since 2012 were all in complexes built before

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Toronto Condo buyer needs $100,000 in income to buy a Condo in 2019 Toronto Condo buyer needs $100,000 in income to buy a Condo in 2019

            Toronto Condo buyer needs $100,000 in income to buy a Condo in 2019 Condo rents up 10.7 per cent as fewer buy homes One-third of would-be buyers have exited the market Some relief ahead for homebuyers, Urbanation predicts   The income needed to qualify for a mortgage (mortgage qualifying) on an average Greater Toronto Area condo has soared by nearly a third over 2017, according to a new report, and it’s due to both rising prices and tougher new mortgage rules. Homebuyers needed an income of at least $100,000 to qualify for a mortgage

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Toronto condo rent hikes may slow in 2019 with more condo units available for rent in 2019 Toronto condo rent hikes may slow in 2019 with more condo units available for rent in 2019

              The average rent for a one-bedroom condo in the Toronto region has surpassed $2,000 for the first time, hitting $2,056 in the third quarter of 2018, according to market research firm Urbanation.   Mr. Hildebrand, President, said he expects rents to moderate going into 2019 as more apartments and condos become available. But in the short-term the demand from a growing population and consumers shut out of the home ownership market continue to outstrip the supply for rentals and push up the cost of leasing. “It isn’t a coincidence that rents and (home)

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Toronto Condo market set to level off in 2019 Toronto Condo market set to level off in 2019

            The Toronto condo market is set to level off in the first quarter of 2018, but not before the average downtown price per square foot crosses the $1,000 threshold for pre-construction units, says Shaun Hildebrand, senior vice-president of real estate market research firm Urbanation.   Unsold condo inventory has already reached an average of $991 per sq. ft. and the average selling price for all new projects that were launched in the City of Toronto in the third quarter was $951 per sq. ft., he said. “I don’t think it will be long before

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Toronto’s sizzling condo market slows down in 1st quarter, 2018 Toronto’s sizzling condo market slows down in 1st quarter, 2018

            Toronto’s heated condo market looses some steam due to the growing development costs and some of the condo project cancellations. They have produced some caution into Toronto’s hot condo market, and with more project terminations likely yet to come, comments Urbanation, the development research company. Urbanation found that new Toronto condo launch prices went up 23 per cent year over year at the end of the 1st quarter, 2018. Even with a really large number of condo development projects that were launched in 2017, about 53 condo developments projects with nearly 14,000 units that still had

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