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Happy New Year!
We hope you had a very happy holiday season and were able to enjoy some time with your loved ones.
What should we expect from the Toronto real estate market in 2019? We project that the real estate market will be similar to last year, that the market conditions experienced in 2018 will continue well into 2019. Like in 2018, Condominiums will continue to lead the GTA market, while the demand for freehold properties will be more balanced. Increasing interest rates will continue to affect buyers looking to qualify for a mortgage. Supply of new listings will continue to be low which will help fuel demand for new construction projects.
On November 15, 2018 the Ontario government introduced the elimination of rent controls specifically on newly built unoccupied rental units. This means the rent control rules will no longer apply to any newly built units rented for the first time and landlords may re-set the rental rate of their unit at the expiry of their one year lease. This will help GTA landlords of new condos increase the rents faster than the allowable 1.8% maximum increase set by the Ontario Landlord Tenant Board. The introduction of this new measure will help make new construction condos a very desirable real estate investment moving forward. Talk to us to about how this change might affect your real estate portfolio.
This month be sure to enter to win this month’s giveaway prize, review the monthly market statistics, and much more!
Alex, Elaine, and Otto
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Rent control reforms could mark return to sky-high increases for Toronto tenants, advocates warn |
| | "With the province scrapping rent control for new units across Ontario, affordable housing advocates are cautioning the changes could mark a return to sky-high rent increases for thousands of Toronto tenants." |
| | | 50 New Year’s Resolutions Actually Worth Making
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| | "This year, skip the lofty resolutions that you’ll never be able to keep and focus on smaller, more attainable goals instead. Here, 50 New Year’s resolutions that you totally can—and should—make." |
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| | | | | | | "Toronto Real Estate Board President Garry Bhaura announced the continuation of moderate price growth in November 2018 compared to November 2017. The MLS® Home Price Index (HPI) Composite Benchmark was up by 2.7 per cent year-over-year. The average selling price was up by 3.5 per cent year-over-year to $788,345.
Greater Toronto Area REALTORS® reported 6,251 residential transactions through TREB's MLS® System in November 2018. This result was down by 14.7 per cent compared to November 2017, when we saw a temporary upward shift in demand as the market was distorted by the looming OSFI-mandated stress test at the end of last year." |
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| | | | | | EXCLUSIVE Opportunity to purchase Assignment Condominium Unit for sale at the eCondos at 8 Eglinton Avenue East .
One bedroom with one bathroom on High Floor! 466 Square Feet of luxurious interior space top of the line appliances and finishes, plus 80 square foot balcony. This suite also includes upgrade package with glass stand-up shower and upgraded kitchen finishes valued over $7,500! Amenities Include: Infinity Pool, Party Lounge, State of the Art Fitness Center, Yoga/Boxing studio, Outdoor Lounge and more
Located at the North East corner of Yonge and Eglinton with direct underground access to the Subway/LRT. Steps to Yonge/Eglinton Center and shopping and restaurants along Yonge Street
Offer Price: $499,800 Tentative February 2019 Maintenance Fees $0.52 per Sq.Ft/month
Please contact us for questions and details. |
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EXCLUSIVE Opportunity to purchase Assignment Condominium Unit for sale at the Nobu Residences at 15-35 Mercer Street. Two Bedrooms with 2 Bathrooms on High Floor!
719 Square Feet of Luxurious Living Space with Top of the Line Appliances and Finishes. The Nobu Residences development is Sold Out and Unites were in the Highest Demand. Seller to receive $28K credit on closing. Ask L/A for details.
Located in Toronto’s Entertainment at King and John. Steps to King Street restaurants, Royal Alexandra Theatre, Roy Thompson Hall, Art Gallery of Ontario and the Bell TIFF Lightbox.
Offer Price:$899,800
Tentative Occupancy July 2022
Maintenance Fees $0.63 per Sq. Ft per month
Please contact us for questions and details.
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| Ultra Exclusive Fully Furnished Suite at the Coveted Tiff Tower!
Property Type: Condo Apartment Size: 1200-1399 Sq Ft # of Bedrooms: 2+1 # of Bathrooms: 2
Neighborhood: C01 Waterfront Communities FOR LEASE! |
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ThinkTorontoHomes, Royal LePage Terrequity Platinum Realty
293 Eglinton Ave. East, Toronto, Ontario M4P 1L3 Canada www.thinktorontohomes.com | info@thinktorontohomes.com |
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