Posted by: torontocondo | September 11, 2014

Toronto Condos Overbuilding Risk To Housing Market

If investors suddenly sold this Toronto Condos investments now estimated to be 10 per cent overvalued, a potential impact of oversupply and lower prices could affect all Toronto Real Estate, homes included.

A lack of  Condo data showing the number of foreign investors in the Toronto Condo Market is also having analysts worry about the downsize risk of lower prices if these Condo investors  suddenly decide to sell at a loss.

The Toronto-Dominion Bank is worried about the Toronto Condo Markets oversupply and how this could affect the rest of the Toronto Real Estate Market when home prices are forced down.

Iris Li, RE/Max Condos Toronto Realtor, specializes in Toronto Harbourfront Condos For Sale/Rent, both new and resale.

Let us help you find that new luxury Toronto Condominium, or Toronto dream Home.

Posted by: torontocondo | August 9, 2014

Investors Own 17% of Toronto,Vancouver Condos-CMHC

A recent CMHC survey reveals 17% of Condos in Toronto and Vancouver are investor owned.

This survey stated 58% on these investors plan on keeping their Condos more than 5 years with 18% planning on holding these units 2-5 years and 7.6% plan on keeping their Condos less than two years.

CMHC also found that 12% of Condo investors planned on reselling their unit for profit within 1 year of purchase.

Over 42% of Condo investors had no mortgage on their last purchased Condominium.

The survey also found that 82.9% of Toronto and Vancouver Condo buyers were homeowners.

Iris Li, RE/Max Condos Toronto Realtor, specializes in Toronto Harbourfront Condos For Sale/Rent, both new and resale.

Let us help you find that new luxury Toronto Condominium, or Toronto dream Home.

Call Iris Today!

Posted by: torontocondo | July 26, 2014

Toronto Condominium Sales Jump In Second Quarter On Rentals

New Toronto Condo Sales took a huge jump partly due to rental demand.

A huge demand for rentals absorbed a huge supply of new projects satisfying both Toronto renters and  Condo investors.

Condo sales rose 10 per cent to 6,553 in the three months ending in June from the same time last year.

The average Toronto Condo price was $367,010, up 5.5 per cent in the first quarter.

According to the Toronto Real Estate Board about a quarter of new Condos are purchased by investors who rent out their units to residents in Toronto where the supply of rental apartments are limited.

Last year there were 58,659 Condos under construction with about 19,000 scheduled for completion in 2014.

The Toronto Condo market consists of young professionals, baby boomers and families who find Condominiums a more affordable option to housing in Toronto.

Iris Li, RE/Max Condos Toronto Realtor, specializes in Toronto Harbourfront Condos For Sale/Rent, both new and resale.

Let us help you find that new luxury Toronto Condominium,or Toronto dream Home.

Call Iris Today!

Posted by: torontocondo | July 15, 2014

Canadian’s Predicting Higher Home Prices Next Six Months

A recent survey shows Canadians are very optimistic about Real Estate in the next six months.

Over 47 per cent of Canadians are brushing off forecasts (they are everywhere) of a slowdown or bubble in a Real Estate Market that has been deemed “unsustainable”.

This has been the highest level of optimism since the survey began in 2008.

Toronto Real Estate sales were up 15.4 per cent year-over-year in June showing Toronto Home Buyers are still very interested in Homes and Condos.

Low rise Toronto Homes are still very popular and in the month of June all Home types(even Toronto Condos) increased in average price.

Iris Li, RE/Max Condos Toronto Realtor, specializes in Toronto Harbourfront Condos For Sale/Rent, both new and resale.

Let us help you find that new luxury Toronto Condominium,or Toronto dream Home.

Call Iris Today!

E Condos Toronto

E Condos Yonge Eglinton

Toronto Homes are becoming more expensive in the first half of 2014 due to lack of supply and more buyers than Home listings.

According to a recent report from the Royal Bank the cost of owning a two-storey Toronto House amounts to 65 per cent of household pretax income for the average Toronto family.

Toronto Condos on the other hand require just 34.2 per cent of pre-tax income, a much more affordable option.

The average price of a new Toronto Condominium is now $437,663 according to a leading Condo marketing firm.

In May the average price of a resale Toronto Condo in the C08 area was $425,322, very close to the average price of a new Condo.

The average Toronto Condominium price for all GTA Condos in May increased by 6.4% to $373,509.

Again,Toronto Bay Bloor Condos and Toronto Bay College Condo listings continue to be very popular with our downtown Toronto Condominium buyers.

Iris Li, RE/Max Condos Toronto Realtor, specializes in Toronto Harbourfront Condos For Sale/Rent, both new and resale.

Let us help you find that new luxury Toronto Condominium,or Toronto dream Home.

Call Iris Today!

 

 

 

Posted by: torontocondo | June 17, 2014

Toronto Condo Market Threatens Canada’s Housing Market

According to a recent TD Bank report Canada’s housing market is 10 per cent overvalued with the biggest risk in Toronto Condo overbuilding.

The Toronto high-rise Condominium market has everyone watching closely including the Canadian Banks, Mortgage Brokers an all levels of Government including the Federal Government that has intervened in the last few years.

The question arises on how many of the many new Toronto Condos are being purchased by investors or by end-users.

If foreign investors withdraw from the huge Toronto Condo market more unsalable listings could result in falling prices similar to the recent U.S. Real Estate drop.

The overvaluation number is thought to be 10 per cent across Canada.

View the latest Toronto Downtown Condo listings:

View the latest Toronto Homes For Sale listings:

Iris Li, RE/Max Toronto Realtor specializes in Toronto Downtown Condos both new and resale.

Let us help you find that new luxury Toronto Condominium, or Toronto Detached dream Home.

Iris Li
Sales Representative,
Re/Max Toronto

http://www.TorontoHomeAndCondo.com

Posted by: torontocondo | May 23, 2014

Toronto Home And Condo Average Prices/Sales Mid-May

Toronto Home and Condo average prices increased once again as Toronto Home buyers find our Real Estate here in Toronto still affordable.

Mid-Month resale Housing Market figures are not news for most but if you are ready to buy a Toronto Detached Home, a Semi-Detached Home or even a Toronto Townhouse or Toronto Condo you want to know where the Market is and what direction its moving.

Compared to the first two weeks in May 2013, the Toronto Real Estate Board reported 5,185 sales of all types of Toronto Housing, up 19.6 per cent.

The average selling price for all these Home types was $590,132, up 8.9 per cent from the same time last year.

Low borrowing costs however are balancing out the higher average price growth in favour of Toronto Home buyers.

Toronto MLS Sales/Average Prices May 1-14, 2014 (City of Toronto)

Toronto Detached-$966,867 up 13%

Toronto Semi-Detached-$706,903 up 11.5%

Toronto Townhouse-$498,254 up 9.4%

Toronto Condos-$398,823 up 5.4%

View the latest Toronto Downtown Condo listings:

View the latest Toronto Homes For Sale listings:

Iris Li, RE/Max Toronto Realtor specializes in Toronto Downtown Condos both new and resale.

Let us help you find that new luxury Toronto Condominium, or Toronto Detached dream Home.

Iris Li
Sales Representative,
Re/Max Toronto

http://www.TorontoHomeAndCondo.com

Posted by: torontocondo | May 8, 2014

Toronto Condominium Market Remains Strong Q1-2014

A total of 5,140 new Toronto Condos were sold during the first quarter of 2014, up 5 per cent from the five-year year average for first quarter results according to Urbanation.

Unsold new Toronto Condominium inventory declined 5 Per cent during the quarter to 18,293 units.

The average Toronto Condo selling price was $549 per square foot with the average asking price of unsold Condos $574 per square foot.

Resale Toronto Condos in Q1 totaled 3,482 units up 9 per cent from 2013. The average resale Toronto Condo price was $414 per square foot, up 5.1 per cent.

Iris Li, RE/Max Toronto Realtor specializes in Toronto Downtown Condos both new and resale.

Let us help you find that new luxury Toronto Condominium, or Toronto Detached dream Home.

Related:

Toronto Luxury Condo Prices

Iris Li
Sales Representative,
Re/Max Toronto

http://www.TorontoHomeAndCondo.com

 

Posted by: torontocondo | April 29, 2014

New Toronto Condo Sales Jump 68% in First Quarter 2014

New Toronto Condominium sales more than doubled from a year ago making it the best March on record.

The average price for new Toronto Condos was $548 and the average size was an average 797 square feet.

Now there are more Condos under construction in Toronto than any other North American city according to various industry websites.

New City of Toronto development charges will add to the Condo units size and prices as developers will pass on extra costs to Toronto Condo buyers.

Iris Li, RE/Max Toronto Realtor specializes in Toronto Downtown Condos both new and resale.

Let us help you find that new luxury Toronto Condominium, or Toronto Detached dream Home.

Related:

Toronto Luxury Condo Prices

Iris Li
Sales Representative,
Re/Max Toronto

http://www.TorontoHomeAndCondo.com

Posted by: torontocondo | April 18, 2014

Toronto Home And Condo Average Price,Sales Mid-April

Toronto Home And Condo average prices increased once again as Toronto Home buyers continue their search for all Home types.

A short supply of Toronto Home listings in several of the downtown areas is resulting in higher average sale prices with more buyers chasing fewer listings.

The Toronto Real Estate Spring market started off strong with a 10.8 per cent year-over-year increase sales in the first two weeks of April with MLS sales totaling 4,541 units.

The average selling price for all Toronto Home types mid-April was $583,697 an increase of 11 per cent from a year ago.

Toronto Downtown Condos in the 416 Area increased 8.2 per cent in sales and 0.2 per cent in average price, the lowest increase for all Toronto Home types.

Now, Toronto Detached Homes jumped 19.2 per cent to an average resale price of $1,012,172 with an average sales growth of 19.4 per cent. It appears this is a first, breaking through the Million Dollar average price level.

View the latest Toronto Downtown Condo listings:

View the latest Toronto Homes For Sale listings:

Iris Li, RE/Max Toronto Realtor specializes in Toronto Downtown Condos both new and resale.

Let us help you find that new luxury Toronto Condominium, or Toronto Detached dream Home.

Iris Li
Sales Representative,
Re/Max Toronto

http://www.TorontoHomeAndCondo.com

 

 

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