Halifax rental construction reaches all-time high
Low vacancy rates and rising rents in Halifax have created a challenging environment for the city’s renters. Between the 2006 and 2016 censuses, the population of renters in the city increased by 24%. Renter households now account for 40% of all households in Halifax. This increase has led to a never-before-seen level of rental apartment construction. As of March 2019, 4,020 rental apartments were under construction; an all-time high. This growth in the supply of rental units has not, however,...
read moreHudson Yards developer plans massive $3.5B complex in Toronto
Oxford Properties Group is planning a $3.5 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 just north of the 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 (U.S.) project it’s co-developing with Related Cos. Plans call for two...
read moreFederal carbon tax is constitutional, Ontario’s top court rules
The federal government’s carbon pricing scheme is constitutionally sound and has the critical purpose of fighting climate change, Ontario’s top court ruled in a split decision on Friday. The Greenhouse Gas Pollution Pricing Act, enacted in April, is within Parliament’s jurisdiction to legislate in relation to matters of “national concern,” Chief Justice George Strathy wrote on behalf of the court. “Parliament has determined that atmospheric accumulation of...
read moreRHBTV – WATCH INDIVIDUAL SEGMENTS NOW.
RHB TV is Canada’s first digital news broadcast for the RENTAL HOUSING INDUSTRY! Each episode covers a variety of topics affecting the multi-residential market, such as market insights and trends, legal, finance, development and acquisitions, CMHC data and reports, energy efficiency, capital expenditures and more. Here is a segment-by-segment breakdown of the premiere episode. Visit the corresponding links to watch each segment NOW! NEWSDESK Bill 108 is making national headlines. Learn more...
read moreSeniors & Housing Trends in Canada’s 150 Biggest Cities
For the very first time in history, people born between 1946 and 1965 outnumber all other generations in Canada. Moreover, the number of people aged 55+ increased by a staggering 87% between 1996 and 2006, while those between 16 and 54 years of age grew by only 14%. Given these shifts in demographics, we wanted to find out how seniors have been reshaping Canadian housing. So, our team of researchers looked at population changes between 2006 and 2016 and correlated local home prices with the...
read moreDevelopment offers 8% returns on down payments
As Vancouver’s real estate market continues sputtering, developers are coming out with all kinds of incentives, one of which is an 8% annual return on a preconstruction down payment. A condo called Soleil White Rock Living, located in the retirement community of White Rock about three-quarters of an hour from downtown Vancouver, is enticing buyers with the prospect of making an extra $23,275 to $77,275 in interest on their 20% down payments. “White Rock is a funny market,” said Craig...
read moreWeek-long event a rare glimpse into the future
Beginning Monday, Torontonians will have a week to get acquainted with their future. In collaboration with the City of Toronto, Toronto of the Future will bring together the city’s real estate developers, architecture firms and government agencies at the Metro Hall between June 25 and July 1 where they’ll regale the public with 3D models, Illustrations, visual presentations, and more. According to Robert J. Vezina, president of Cities of the Future Management, the event is a gateway into the...
read moreRHB TV is now live!
RHB TV is the first and only news broadcast for the RENTAL HOUSING INDUSTRY. For the past 18-months, the RHB team has been hard at work developing and producing a show specific to our industry. RHB TV is a one-of-a-kind media platform, that covers industry news, market data and emerging trends. EPISODE 1 is now live! Watch it at www.rhbtv.ca
read moreSenate passes Bill C-69, C-48 in blow to Canada’s energy industry
OTTAWA — A pair of controversial environmental bills scaled their final hurdle in the Senate on Thursday, over the objections of critics who warn the two pieces of legislation will kneecap Canada’s oil industry and fuel separatist sentiment in Alberta. Senators passed Bill C-69, which overhauls the federal environmental assessment process for major construction projects, by a vote of 57-37. They also approved — just barely — Bill C-48, legislation barring oil tankers...
read moreOntario Government to allow landlords to increase rent by highest amount since 2013
The Ontario government’s new rent increase guideline for Toronto allows a larger jump than last year’s. Landlords in Toronto and the rest of the province will be able to increase rent by a maximum of 2.2 per cent in 2020. This means that if your rent is $1,000 a month, it can rise to $1,022 a month, from Jan. 1 to Dec. 31, until next year’s guidelines are released. Last year, the maximum rent increase was 1.8 per cent and has remained below 2 per cent since 2017. This year’s increase is...
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