Five Condos Construction Update

Five Condos Construction Update

Development Name:	Five Condos
Development Address :	Yonge and Wellesley
Development Type :	Highrise - Tower - Skyscraper
Number of Floors:	50 Floors
Developer:	MOD Developments
Architect :	Harini Pontarini
Rendering : If Available
Location:	Toronto
Amenties

Sotheby’s Agent Tells Tales of the Toronto Real Estate Market

One agent, points out a 1500 square foot condo near the High Park area, it is already asking for a price well over $1.5 million dollars. This is the time we live in the agent states, as the supply of single family detached homes slows, and the supply of condos increases, so too do the prices which these properties command on the open market. Toronto is no different than New York City in a sense, the agent bemuses. He tells tales of homes listed for 735,000 dollars going over 1 million dollars and above.  These homes appeal to a certain demographic, one that wants the convenience of downtown living, as well as having a detached or semi detached home close to the core. 

Calgary's Real Estate Market is Creating Bidding Wars For Properties

And Calgary’s Market for Real Estate is becoming an  example of  the fact demand for housing in increasing as nearly 20 per cent of MLS residential sales in the city in February were for above list price. A Bank of Montreal Housing and Home Buying Report said 34% per cent of Canadians are willing to enter a bidding war when it’s time to buy a home, an increase of six points, or 21 per cent, from a year ago. The report, conducted by Pollara, said that in major city centres, the appetite for competitive bids is the highest in Toronto and Vancouver (44 per cent and 41 per cent respectively). In Calgary, it is 38 per cent and in Alberta, it is 30 per cent.

Hamilton ON Housing Market Continues to Show Signs of Improvement

Statistics from the Canada Mortgage and Housing Corporation and Realtors Association of Hamilton-Burlington support Alexander's prediction of a slower increase in the local housing industry next year. The realtors' association forecast average prices in the area will rise 3.5 per cent this year after rising an average 6.7 per cent for all of 2013. The average price of a home in the region hit $395,445 last year, up 9.3 per cent from 2012. The association is also calling for 14,000 sales next year and 19,500 listings.

Prices in the Montreal Market Stabilize for February and January 2014

According to the real estate brokers' Centris® provincial database, 2,054 residential sales transactions were concluded in January 2014, a 2 per cent decrease compared to January of last year. Sales of single-family homes increased by 1 per cent in January 2014, while sales of condominiums and plexes fell by 4 per cent and 8 per cent, respectively.

Is Toronto a Global city?

 I think that once a first world city gets to 4 million plus population, it can offer the services cultural, financial and economic of a city twice or even three times as large. As for Toronto, I think it is currently on the same level as Singapore or Sydney, although yes, Toronto is growing faster. In a few years time, it is likely that Toronto will pass those cities. In the end the game is about name recognition and in that sense, Tokyo, New York City, and London rule the roost. Toronto is the financial capital of a country that is ranked top 15 economically, and therefore I would rank Toronto at about the same place. I wouldn't even go top 10 because there is so much competition, particularly coming from the Middle East and Asia. For instance Dubai?