Despite of some people’s opinion resale home sales and prices in Toronto and Area held firm in spring 2019. Although some of prospective buyers are on the sidelines as they believe the best time to buy is when the market crashes. That’s not likely this year. The MLS® home price index was up by 2.6 per cent year-over-year. The average price of a Toronto home is $788,335 and the average GTA condo is $560,000. Market prediction: housing prices in Toronto and GTA will keep rising after the elections in fall 2019.
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
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
New era in real estate business development: Amazon said it is funding homebuilding start up Plant Prefab. Mission - building prefabricated custom homes, designed with sustainable materials and quality features, including Alexa-powered smart home devices. Homes arrive 90% complete and are installed in days. This is future of affordable custom homebuilding and it is here.
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 was able to construct only 44,000 new homes in 2017, falling behind demand.
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.