Canadian home sales ended 2019 with a 22.7 per cent jump in December compared with a year ago. Our forecast for 2020: sales supposed to be rise, rates expected to be same or lower, economy to gather some steam and population grown. As to the prices, we expect modest growth for large and expensive properties and high demand for smaller, not expensive properties. Spring is coming and we expect exciting year to trade in real estate.
Pay attention to the housing market in 2020. Housing is important to the economy. It puts people to work, and it increases the supply of housing. Homebuilders are anticipating a busy year in 2020. If you already own a home, it may make sense to take advantage of the current low interest rates to refinance your mortgage to save money. And if you’re looking to buy, there are plenty of offers to choose the best mortgage.
Over the next 20 years almost 2.5 million new residents, or approximately 115,000 a year, will arrive in the GTA. Just to house them requires 55,000 new homes to be built every year plus roads and public transit to transport them, schools, stores and places to work. Now it takes 10 years to complete highrise project, and 11 years to complete lowrise project. As a consequence, the building industry nowadays not able to construct enough new homes, falling behind demand.
Toronto condo prices have surged 50 per cent in the
past three years. GTA attracts majority of new immigrants. Spacious renovated condo apartments in great demand nowadays. Older well-kept buildings became more popular than newly built budget
properties. The average price for a new launch is $1,200+ a square foot. Location, quality of the building, size and interior design of the unit – 3 pillars to consider in purchasing
There are seven buildings that are taller than the current tallest building in Toronto (excluding the CN Tower) currently at some point in the planning or development process. The high-rise construction boom in Canada's largest city is set to continue, and promises to reshape the city's appearance in the coming years
Trend nowadays is not to build bigger, but to build better. More houses come equipped with solar-ready features and electric car plug-ins... However, what will be in demand forever are great interiors. Personally, we love the world of Charles:
This one of a kind hand crafted “Liberty” was created in Art Deco style by a smith who is well-known in Canada and in US not only among rich and famous. Oleg is our client and friend
and we highly recommend his wrought iron art for our valued clients: click here
and view this famous smith’s wrought iron masterpieces, as featured on CNN.
Scott Dickson imagined Toronto skyline in near future. It is stunning. Using statistics digests, researching where the buildings belong their elevation and Photoshop, he created this amazing image of TO in a decade. His skyline hobby is about celebrating the best of Toronto. Click on image to view fine details.