Dragon Condos - Comes to Chinatown

Dragon Condos - Comes to Chinatown

I found this on my journey through Chinatown today. A sales office for Dragon Condos. I think I might have seen it before, but wow! this condo market is bringing everyone along for the ride, even Chinatown is getting in on the action:

The project will rise just a meager 10 floors, at the corner of Spadina and Dundas, right adjacent to and abutting the Dragon City Centre Mall. The developer is "Ideal Developments" and they are offering buyers, a free bike, along with a free bike parking spot with each unit purchased.

There will be a total of 100 units.

New Trends in Condo Buying Emerging in the Toronto Area

 A few new trends to watch out for in the Toronto area when it comes to buying homes as well as buying condos. When it comes to buying homes, the latest tactic is to put a property which had previously been listed on the MLS system, on a bidding site, or list through an auction house to get buyers, sending the price of single detached homes soaring.

 As for condos the latest buying technique is the new trend with regards to micro housing, or micro condo living. And we’re seeing now, specifically designed condos to meet that purpose. Another new trend to look out for is the lack of supply in the purpose built rental housing market in Toronto. Even as new condos come online there remains a shortage of apartments built specific to that purpose, so condo rentals have increased even as vacancy climbs, rentals rates do as well.

 Busy Condo Market Boosts Toronto Home Sales 

With fewer homes in the detached category available in Toronto, new home buyers seem to be opting for new condos, with sales heading forward at a rocket pace last month. Sales of Existing Homes in the Toronto area moved up by a whopping 2.1% in February 2014, and that is compared to the same time period last year. That was mainly due to a 12.5% increase in the sales of condos within the city so stated by the Toronto Real Estate Board. That will contrasts with the sales declines that occurred in townhomes, detached and semi-detached housing during the month, which was mainly due to a constrained supply of those housing types.

The Canadian Home Mortage Corporation (CMHC) set to alter Mortgage Insurance Rates

The federal agency which regulates mortgage insurance in Canada is set to alter the rates which is charges new home buyers to insure their mortgages against the risk of default.  These premiums which new homeowners must pay to get CMHC insurance may also impact the ability of homebuyers to purchase their homes. The federal government has been trying for quite some time to reign in the Toronto and Vancouver Housing markets where the average cost of a single family detached home has now reached over $1 million dollars. 

10 Tallest Buildings Under Construction in Toronto


Number 1 - A-u-ra Condo 273 Meters (Construction Updates)

Number 2 - One B-lo-or East 260 Meters (Construction Updates)

Number 3 - I-C-E Condo - Tower 2 Construction - 234 meters - 202 meters

Number 4 - L T-ow-er Construction Updates - 205 meters

Number 5 - I-C-E C-on-do - Tower 1 - Construction Update - 202 meters

Number 7 - Hu-llmark Co-rpo-rate Centre Construction Updates - 168 meters

Number 8 - Kar-ma Cond-os - (Shoring and Site Prep) - 165 meters

Number 9 - Wes-tlake Village Condos ( Under Construction) - 163

Number 10 - FI-VE C-ondos ( Construction Updates) - 161 meters