Canada's Condominium Magazine

Monthly Archives: June 2014

Enjoy downtown luxury living in Atmosphere Suites from Tridel

Enjoy downtown luxury living in Atmosphere Suites from Tridel

There are many reasons to buy a luxury home. Some buyers simply want an exceptionally nice place to live, and they have the money to afford the best. They may be young, still working, and looking for a place that’s move-in ready, already equipped with everything they need, from first-class building amenities and security to… Continue Reading

New home sales at “healthy levels” in GTA, say builders

New home sales at “healthy levels” in GTA, say builders

After finishing last year with the second-lowest sales in a decade, the Toronto-area new home industry has seen steady growth each month in 2014. Today the Building Industry and Land Development Association (BILD) reported that new home sales in the GTA have “rebounded” from that slow end to last year and “returned to healthy levels.”… Continue Reading

We all got a little richer, mostly thanks to real estate

We all got a little richer, mostly thanks to real estate

Forbes published its annual list of world billionaires this week, and Canadians make a respectable showing. Some of the thirty Canadians on the list are household names—Weston, Bronfman, Thomson, Irving—others less well known. Their fortunes were made in a variety of industries, including media, retail, oil, and even cheese. Coincidentally, Statistics Canada today released its… Continue Reading

Tips for buyers of resale condos

Tips for buyers of resale condos

Today in Toronto, about seventy-five people will buy a resale condo, based on Toronto Real Estate Board sales numbers for the first two weeks of June. Hopefully, all of them realize that buying a condo isn’t quite like buying other types of homes. When you buy a condo, you are really buying into a business,… Continue Reading

Financial, social benefits driving green building growth in Canada

Financial, social benefits driving green building growth in Canada

Many Canadian building owners and developers are seeing significant decreases in energy consumption, decreases in water consumption, and reductions in operating costs. They are also seeing the value of their building assets increase. They are enjoying these and other economic and social benefits because they have been building green. A clearer picture of what is… Continue Reading

Toronto most tax-competitive city in the world: report

Toronto most tax-competitive city in the world: report

There’s a common perception that Canadians pay more taxes than Americans. A new report from the international accounting and taxation firm KPMG could put that notion to rest, at least for businesses. Canada came in second of ten countries studied, in terms of taxation on business, while Toronto is ranked as the most tax-competitive of the… Continue Reading

More new listings, more buyers: Toronto housing market hums in June

More new listings, more buyers: Toronto housing market hums in June

More Toronto sellers listed their homes in the first half of June, but buyers still outnumbered the available homes for sale. Toronto Real Estate Board statistics for the month so far show that both sales and new listings were up “substantially” compared to the same period last year. TREB president Dianne Usher said that the… Continue Reading

Central bank still concerned about household debt, householders not so much

Central bank still concerned about household debt, householders not so much

Canada’s banking system is strong and healthy. The banks are well capitalized. The financial markets function well. The country’s financial system has the blessing of the International Monetary Fund (IMF), which finds that it is highly resilient, strongly regulated, and able to withstand even severe stress. Further, the global economy continues to strengthen and is… Continue Reading

Other Popular Stories

15 percent non-resident speculation tax becoming reality for Ontario; may help temper “frantic” real estate market “without unintended consequences”

15 percent non-resident speculation tax becoming reality for Ontario; may help temper “frantic” real estate market “without unintended consequences”

As expected, Kathleen Wynn moved to cool down the sizzling hot GTA real estate market with a bundle of measures, led by new 15 percent non resident speculation tax. Investors who are residents are exempt, although separate “policies” may also target locals. Expanded rent controls are also certain. “When I talk about the frenzy in…

Ask the Lawyer: Condo owner wants action on noisy Airbnb “tenants”

Ask the Lawyer: Condo owner wants action on noisy Airbnb “tenants”

Reader Question: “I believe my neighbour is renting out with Airbnb. I see people I don’t know coming and going, making lots of noise. I also don’t feel safe in this environment. What can I do about this? So far, complaining to management hasn’t helped.” Do you have a question for Richard? Please reach out…

Sousa again promises action in GTA real estate market and rent controls in “coming week”

Sousa again promises action in GTA real estate market and rent controls in “coming week”

In another of several announcements promising action on the Ontario housing market — this one promising “in the coming week” — Ontario’s Finance Minister Charles Sousa revealed more details of the pending plan to rein in speculative market pricing in the GTA area. A combination of low supply and excessive demand has thrust house pricing…

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