Toronto real estate. TORONTO GOES GREEN

Toronto real estate.  Toronto city committee wants to make green roofs mandatory on most new buildings.
 Roofs on new buildings with an area of 5,000 square metres or greater to be 30% to 60% covered by vegetation. The bigger the building, the more planted space it would have to have – otherwise fines of up to $100,000 [...]

Toronto real estate. FEBRUARY REAL ESTATE UPDATE

Canadian housing starts fell to the lowest since 2001 as work on urban single-family dwellings plunged to the lowest level since 1996.
New home starts fell 11 percent in January to 153,500 units on an annualized basis, the fifth straight decline, Canada Mortgage and Housing Corp. said today, February 9th, from Ottawa. Economists anticipated the pace would [...]

Toronto real estate. GTA SALES IN DECEMBER

Toronto Real Estate Board Members reported 2,577 sales in December 2008, compared to the 4,646 recorded during the same month in 2007, and the 4,447 recorded in December 2006, TREB President Maureen O’Neill announced today. “Sales for the whole of 2008 were 74,552, compared to the 93,193 recorded in 2007, and the 83,084 recorded during [...]

Toronto real estate. WHY CANADIAN BANKING SYSTEM IS STRONG

Canadian politicians, bank executives and monetary authorities have stressed in recent months that Canada’s banking system is strong.
Its banks are better capitalized than global peers and avoided many of the problems infecting other financial institutions, they say.
Here are some key differentiating factors:
Canada’s federal regulator, the Office of the Superintendent of Financial Institutions, requires chartered banks [...]

Toronto real estate. PROPERTY TAXES SET TO RISE

Ontario property owners will see a double-digit increase on their assessments because of the hot housing market and because the province’s property assessment freeze has lifted, a real estate industry expert warns. Maureen O’Neill, president of the Toronto Real Estate Board, says the median price of a detached home in the GTA has increased about [...]

Toronto real estate. TORONTO IS A CONDO CITY!

Toronto has solidified its spot as North America’s largest condominium market, according to a report that says 259 projects are in the works in the city’s census area.
Urbanation, one of the country’s major condominium market research firms, says condo sales skyrocketed over the first nine months of 2007. There were 16,790, sales – more than [...]

Toronto real estate. THE STORY BEHIND TRUMP TOWER IN TORONTO

In the battle for one-upmanship in Toronto’s luxury real estate market, Alex Shnaider has revealed a convincing hand.
The enigmatic Toronto billionaire says in an exclusive interview he has decided to keep what has been billed as Canada’s most expensive condominium, valued at up to $20 million, at the Trump International Hotel & Tower for himself.
A [...]

TORONTO REAL ESTATE. NEW HOMES MARKET IN FALL

Sales of new homes in the Toronto area remain healthy, but that isn’t being reflected in current housing starts, according to Canada Mortgage and Housing Corp.
Starts edged down in August to a seasonally adjusted and annualized 32,000 from 35,100 in July, the federal housing agency reported yesterday.
One problem has been that developers are having trouble [...]

Toronto real estate. YONGE STREET ROCKS!

Average detached home prices in north central Toronto, particularly along the Yonge Street corridor, nudged above the million-dollar mark in the first half of 2007, according to Toronto Real Estate Board.The area – which encompasses such tony neighbourhoods as Forest Hill, Chaplin Estates, Deer Park and Cedarvale – saw average home prices increase by nearly [...]

Toronto real estate. NEW CONDO DEVELOPMENT IN ETOBICOKE

Condominium sales are at a record high in Toronto with 40 per cent of new home sales coming from condo purchases.
According to the Toronto Real Estate Board, 2,173 units sold in the city last month representing a 23 per cent increase in sales compared to June of last year. Ontario’s housing market continues to perform [...]