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ONE OF CANADA’S BIGGEST REAL ESTATE BULLS ISN’T SO BULLISH ON CONDOS

Posted in Broker Listings, Broker Sales, Industry Trends, Newsworthy

ONE OF CANADA’S BIGGEST REAL ESTATE BULLS ISN’T SO BULLISH ON CONDOS

One of Canada’s largest real estate brokerages is bullish on real estate this year, just not condos. Royal LePage released its annual price forecast showing slower, but still big, price growth in 2021. There was one notable exception – condo apartments. They expect prices to rise, but they also expect them to lag the market. Toronto condos aren’t even expected to beat inflation. Canadian Condo Prices Forecast To Grow At Half The Rate Canadian condo apartment prices are forecast to gain next...

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CANADA 2021 HOUSING FORECASTS CALL FOR A BOOM… OR THE WORST CRASH IN 40 YEARS

Posted in Broker Listings, Broker Sales, Housing, Industry Trends, Newsworthy

CANADA 2021 HOUSING FORECASTS CALL FOR A BOOM… OR THE WORST CRASH IN 40 YEARS

This could be the toughest year in living memory to make predictions about the economy ― especially the housing market. Amid the worst economic slowdown in decades, home sales and prices soared in many Canadian cities in 2020, along with housing markets in many other countries. The average house price in Canada has shot up by 13.8 per cent over the past year, and by 14.6 per cent in the U.S. No wonder this year’s batch of year-end forecasts for Canada’s housing market are all over the...

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COVID-19 HAS MADE READING NEXT YEAR’S REAL ESTATE MARKET HARDER THAN EVER

Posted in Broker Sales, Coronavirus, Industry Trends, Newsworthy, Rental Rates

COVID-19 HAS MADE READING NEXT YEAR’S REAL ESTATE MARKET HARDER THAN EVER

Canadians are about to get an update on the state of the housing market and the latest resurgence of COVID-19 has only added another layer of confusion to a year of uncertainty over where real estate prices will go in 2021. On Tuesday, the Canadian Real Estate Association is expected to roll out its latest sales figures and prices for resale homes, and while most property watchers see a continuing short-term trend of weakening high-rise condo prices and increasing low-rise prices, the longer...

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NEW CONDO SALES FALL TO LOWEST LEVEL SINCE ‘09 RECESSION BUT PRICES & CONSTRUCTION MOVE HIGHER

Posted in Broker Listings, Broker Sales, Coronavirus, Industry Trends, Newsworthy

NEW CONDO SALES FALL TO LOWEST LEVEL SINCE ‘09 RECESSION BUT PRICES & CONSTRUCTION MOVE HIGHER

Urbanation Inc., the leading source of information and analysis on the condominium market since 1981, released its Q2-2020 Condominium Market Survey results today, providing the first insights on how the GTA new condominium market has performed during COVID-19. During the second quarter of 2020, new condominium apartment sales totaled 1,385 units in the GTA, the industry’s lowest volume of sales activity since the Great Recession in Q1-2009 (885 units). New condo sales dropped 85%...

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GLOBE CAPITAL MANAGEMENT ACQUIRES NEW MONTREAL PROPERTY

Posted in Broker Sales, Broker Sales Quebec, Media Releases

GLOBE CAPITAL MANAGEMENT ACQUIRES NEW MONTREAL PROPERTY

Mr. Richard Morantz, President and CEO of Globe Capital Management, is pleased to announce the acquisition by the company for $60 million of the Les Berges du Canal apartment complex in Montréal, Québec. The property is located in the gentrifying neighbourhood of St. Henri on the island of Montréal, where much investment is being directed to the rehabilitation of properties so that services can be provided to local residents in the former industrial area. The Globe team looks forward to...

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STARLIGHT INVESTMENTS AND KINGSETT CAPITAL TO ACQUIRE NORTHVIEW APARTMENT REIT

Posted in Broker Sales, Media Releases, Newsworthy

STARLIGHT INVESTMENTS AND KINGSETT CAPITAL TO ACQUIRE NORTHVIEW APARTMENT REIT

Northview Board Unanimously Recommends Unitholders Vote IN FAVOUR of Transaction Starlight Investments (together with its affiliates, “Starlight”) and KingSett Capital on behalf of KingSett Real Estate Growth LP No 7, KingSett Canadian Real Estate Income Fund LP (“KSCREIF”) and other investors (together with its affiliates, “KingSett”, and together with Starlight, the “Purchasers”), announced today that they have entered into an arrangement...

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Q4-2019 GTA LAND INSIGHTS REPORT

Posted in Broker Sales, Finance

Q4-2019 GTA LAND INSIGHTS REPORT

Key Findings from Q4-2019 Apartment Land Market 1. 36 transactions in the Greater Toronto Area were reviewed for this report. The properties sold for $111 per-buildable-sf on average, a decrease both quarterly and annually. 2. In Q4-2019, high-density lands sold on a buildable-sf basis for approximately 10% of projected overall average revenue, down from 13% in the third quarter. 3. The average property with high-density redevelopment potential in Toronto (former City boundaries) sold for $187...

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Vancouver Real Estate Board releases 2016 home sales figures

Posted in Appraisal, Association News, Broker Sales, Broker Sales West, CMHC, Finance, Housing, Industry Trends, Media Releases, Newsworthy

Vancouver Real Estate Board releases 2016 home sales figures

By The Canadian Press, Wed., Jan. 4, 2017   Release wraps up  tumultuous year for cooling housing market.   VANCOUVER—Home sales in Metro Vancouver dropped by 5.6 per cent in 2016, the city’s real estate board said Wednesday, wrapping up a tumultuous year in one of the country’s most watched housing markets.   The composite benchmark price for all residential properties in Metro Vancouver, as measured by the Multiple Listing Service home price index, hit $897,600 in December. That’s a 17.8 per...

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Four reasons home prices keep soaring in Vancouver and Toronto

Posted in Appraisal, Association News, Broker Sales, Bylaws / Regulations, CMHC, Housing, Industry Trends, Legal, Legislation, Media Releases, Newsworthy, Tax Law

Four reasons home prices keep soaring in Vancouver and Toronto

There are four key reasons housing prices have soared in Vancouver and Toronto over the last two decades, according to a report released by RBC on Friday. And foreign investment is not one of them.   The report estimated that since 1999, home prices in Toronto have increased 162 per cent in Vancouver and 140 per cent in Toronto. There have been many theories as to why this has happened, but according to RBC, there isn’t one singular factor to blame. Here’s a breakdown quantifying the main...

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A look at key Canadian housing measures unveiled in 2016

Posted in Association News, Broker Listings, Broker Listings Atlantic, Broker Listings GTA, Broker Listings Ontario, Broker Listings Quebec, Broker Listings West, Broker Sales, Broker Sales Atlantic, Broker Sales GTA, Broker Sales Ontario, Broker Sales Quebec, Broker Sales West, CMHC, Development, Housing, Industry Trends, Legal, Legislation, Media Releases, Newsworthy, Real Estate Law, Tax Law

A look at key Canadian housing measures unveiled in 2016

It has been a busy year for government intervention into the Canadian real estate market, and not just the hottest Toronto and Vancouver regions as many of the policy changes impact homebuyers across Canada. Below, BNN looks back at the highlights of 2016 Canadian housing policy.   Feb. 15 – Down payment hike – Announced in December of 2015, Ottawa raised the minimum down payment requirement for homebuyers to 5 per cent of the purchase price up to $500,000 and 10 per cent of any amount...

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