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Monthly Archives: February 2014

More foreign visitors discovering Toronto says tourism group

What would entice a Berliner, Londoner, New Yorker or Shanghai resident to come to Toronto? That has been the challenge facing Tourism Toronto, and it seems they must be onto something. In 2011, 9.8 million people visited Toronto and stayed overnight—overnighters are the ones that matter, the “high-value” tourists, because they tend to stay in hotels. But in 2013, the number had grown to 13.69 million, the greatest number ever. Of these, 1.42 million came from outside Canada and the United States. That’s an increase of almost 40 per cent in two years. How did they do it? The statement from Tourism Toronto says that the increase in visitors is ... Read More »

Alexandra Park revitalization now underway; SQ condos coming soon

A major neighbourhood revitalization project that could take up to fifteen years to complete is now officially underway. Demolition has begun at Alexandra Park, a 1960s-era housing development between Queen and Dundas streets, west of Spadina. When work is complete, the neighbourhood will have been completely redesigned, with existing housing replaced by new townhouses, apartments and condominiums. The area will also contain a new park, new retail space on Dundas Street and an expanded community centre. Condominium developer and builder Tridel is the city’s private partner in the redevelopment of Alexandra Park. The most prominent Tridel building on the 18-acre site will undoubtedly be the condos known as SQ (Spadina/Queen), ... Read More »

Housing affordability improved slightly in Q4 2013: RBC

Housing affordability in Canada improved a little in the final months of 2013 according to RBC’s Housing Trends and Affordability February 2014. The RBC research report says that household incomes generally outpaced the rise in mortgage carrying costs, meaning that buyers needed to allocate “slightly” less of their income to the costs of buying and owning a home. RBC’s affordability measures “eased” for all housing types—detached bungalow, two storey home and condominium. The condominium, with an affordability measure of 28.0 per cent nationally, remains the most affordable housing option in Canada. The two-storey home affordability index stood at 48.7 per cent. Despite the easing, housing affordability appeared to be “somewhat stretched” ... Read More »

Online realtors in US spend big on marketing

Online real estate is a fact of life today. All kinds of statistics show that more and more people do a lot of their house hunting online; Better Homes and Gardens Real Estate (BHG) says that 90 per cent of home buyers today use the Internet, but just as many (89 per cent) then contact a real estate agent to proceed. More surprisingly, according to BHG, 36 per cent of home buyers found their home online. The online real estate market may still be in its infancy in terms of years, but it is becoming increasingly important. How important it is in the US can be seen by the amount ... Read More »

Toronto among best cities for quality of life, says report

Once again, the best cities in the world, if you have to leave your hometown and relocate, are in Europe. Vienna, Austria is the best of the best, followed by Zurich, Switzerland. Munich, Germany, comes in fourth, and Vancouver, the only non-European city in the top five, is fifth. Aukland in New Zealand was fourth of the top five. This is the conclusion of the annual survey by Mercer, a global HR and financial consultancy owned by New York-based Marsh and McLennan. The survey ranks world cities on their attractiveness for expatriate workers. Toronto was ranked third among North American cities for quality of life. The Mercer survey of world ... Read More »

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