The Latest L Tower Update from Yonge Street and Wellington. The L Tower is a landmark development being built by a conglomerate of companies headed by Cityzen Developments, Fernbrook Homes and Castlepoint Realty. The project will be 57 floors tall and 205 meters. It's signature design is it's sweeping and curving northside facade. Which, from the looks of it, will become one of the most iconic structures in Toronto.
Toronto Skyscraper Blog Predicts: Much Bigger Towers in Southcore
I was doing some walking in Southcore Financial Centre yesterday, and I noticed that there are a lot of people walking around. Walking their dogs, walking to work, walking to entertainment, walking to get something to eat, walking to do everything and anything. As more people move into the central core, and the towers get taller, and sellout faster, I was looking for a reason for the popularity of this particular neighbourhood.
Toronto Condo Sales Plunge - November 1st, 2012
- Developers put projects on hold as sales plunge 30% in the third quarter according to Urbanation. The total number of unit transactions was 3317 units. The steepest yet fall in the Toronto condo market, and a sign used by developers to put some projects on hold, as excess inventory is absorbed by the market
“With slowing sales and a record level of unsold inventory in the market in the second quarter, condominium developers reacted quickly by delaying their project launches, especially in the ‘416’ area,” says Ben Myers, executive vice-president of Urbanation, in a release. “Just five projects launched in Toronto in Q3-2012, as developers choose to review their pricing assumptions and unit mix.”
Prices are also being impacted. The average unsold unit in the Toronto census area was being offered at $573 per-square-foot at the end third quarter, up just 2% year over year. Unsold inventory in what was the former city of Toronto was being offered at $670 per square foot, up from $668 a square foot from a year ago.
Read More Here
Financial Post Article
Getting a Mortgage and Mortgage Insurance through Empire Life for financing a loan to purchase at FIVE Condos is actually a relatively easy process, and new rules from the federal government has required that company include new regulations, which have made the home loan and mortgage process a bit more difficult. Those changes at Empire Life include shortening the amortization period for which the loan can be held by the consumer, and the degree to which the property is financed by the mortgage. They have also increased deposit requirements to lift the loan insurance amount. Mortgage insurance from Empire Life is actually one of the major financing costs on home loans. Investment Trusts have no taken to looking to purchase rental properties and acquiring mortgages through financing auctions by the banks looking to shore up their balances sheets in light of stricter government regulation. These regulations have actually made holding residential mortgages by the large financial institutions harder to hold. Currently investors are looking to increase their position in rental properties in Toronto, at the same time the federal government in co-operation with the financial institutions are making getting and qualifying for loans and mortgages more difficult Empire Life : What is Condo Insurance? Condo Insurance is required to protect your personal contents from theft or fire damage in your condo if these unforeseen events should happen you should make sure that you have adequate protection. Some items in your condo are will also be protected by your condo association insurance policy which covers the general building. The events that are covered by condo insurance include Fire, as well as Lighting. Other weather related causes such as Windstorms, and Hail are also covered. The major one that most people worry about is theft which is covered by condo contents insurance policies. Toronto Condo Market Report – February 26, 2014 Toronto Condo Prices continue to trend upwards, as sales also move up with general improvement not only in the Toronto economy, but the nation as a whole. Condo sale prices have not increased to the same degree as detached family housing, due to new supply coming onstream. However fears of a condo bubble, have not proved accurate, as trends move to the upside. Average Home prices are still up in Toronto, and look like they will continue to rise for the remainder of 2014. Year over year, detached housing prices increased by over 14%. Just amazing. What to Expect for Home and Condo Prices in 2015 in Toronto and the Greater Toronto Area The latest reports on the Toronto Real Estate market predict that the condo prices if left unsupported will fall, due to oversupply. However, this prediction has been the case for over 10 years now, and nothing has come to pass with regard to any major price drop even with predictions of a correction coming from the world’s largest and most respected financial institutions.
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