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Real Estate
Q2 condo sales down 50 per cent from last year, but prices are up: TRREB
TORONTO — The Toronto Regional Real Estate Board says condominium apartment sales in the region have fallen by half since last year, but the average selling price is up.The board says there were 3,459 condominium apartment sales in…
Average monthly rents in GTA down for seventh straight month in June
Average monthly rent in the Greater Toronto Area declined for the seventh straight month in June to $2,129, according to the TorontoRentals.com and Bullpen Research & Consulting Toronto and GTA rent report. The average rent is down 1.7…
GTA new home market sees increased activity in June: BILD Report
The GTA new home market began to see more activity in June, following two months of historically slow sales due to the pandemic, according to the Building Industry and Land Development Association (BILD).Sales of new single-family…
It’s an optimal time for converting hotel assets to multi-family
As COVID-19 reconfigures global markets, owners and operators of hotels in Canada are anxiously anticipating what the travel and tourism sector will look like in the months and years ahead.With only a small minority of this…
Former Airbnb units in Toronto moving to long term rental market
TORONTO — A new report says there's a rare window of opportunity to snag a rental condo in downtown Toronto as units that were listed on Airbnb prior to the COVID-19 outbreak are moving to the long-term rental market.``If you are a…
Tory says masking bylaw could be brought in if apartment buildings don’t comply
Toronto Mayor John Tory said he's prepared to extend the city's mandatory masking order to shared spaces inside apartment and condominium buildings if management companies refuse to do it voluntarily.Current mandatory masking bylaws in…
Niagara region housing prices climb as buyers leave Toronto in search of space
Prices of newly built homes climbed higher in June as Toronto-area home-buyers fled the city in favour of wine country.Retirees, as well as remote workers, have boosted demand for new houses, driving prices up one per cent, the Niagara…
Mortgage defaults after COVID 19 could look different than 2008, says economist
TORONTO – A Bank of Canada economist says the current economic recovery could be different than the recovery from the financial crisis of 2008.Bank of Canada Director of Financial Stability Mikael Khan said that while the employment…
Walmart Canada investing $3.5 billion over five years in ‘smarter stores’
MISSISSAUGA, Ont. – Walmart Canada plans to invest $3.5 billion over the next five years with a focus on technology to make so-called ''smarter stores.''''The investment will impact every aspect of the business,'' the company said in a…
Open houses resume, but the home buying pastime has drastically changed
TORONTO — Leave the doors open and all the lights on. That's one of the many new guidelines for people opening their homes — perhaps for the first time in months — so real estate agents can host open houses.Some provinces are now…