Attention First Time Home Buyers/Investors! Rarely Offered Junior One Bedroom W/Parking & Locker At The Pantages Tower. Unit Comes With Ample Storage/Closet Space. Bright Unit W/Floor To Ceiling Windows! Quiet Street In The Heart Of Downtown. Steps To Eaton’s Center, Subway, St. Mike’s Hospital, Ed Mirvish Theatre & Dundas Square. Walk Score Of 100!
Rarely Offered Junior One Bedroom With Parking & Locker At The Pantages Tower. Unit Comes With Ample Storage And Closet Space. Bright Unit With Floor To Ceiling Windows! Quiet Street In The Heart Of Downtown. Steps To Eaton’s Center, Subway, St. Mike’s Hospital, Ed Mirvish Theatre & Dundas Square. Walk Score Of 100!
Address: 210 Victoria Street #1813
List Price: $379,000
Maintenance Fee: $428.37
Extras: Fridge, Stove, Dishwasher, Microwave, Rangehood. Washer & Dryer. All Electrical Light Fixtures & Window Coverings.
Premier Kathleen Wynne announced 16 measures today to help increase supply in the Golden Horseshoe region. Hopefully, these measures will slow down the 30%+ increases, to the 10-15% range for the rest of the year. This won’t cause a decrease in prices, just a more gradual increase.
So for the Buyers out there, you may see some relief in the pre-construction sector. For the Sellers, not to worry, you’ll still be seeing the bidding wars and gains.
Here are a couple of the major measures announced and why they won’t curb housing prices:
15% Foreign Speculation Tax
This tax won’t affect the market much as it will only apply on home purchases by non-resident foreigners in the Greater Golden Horseshoe. It will not apply to new immigrants or those planning to live here. The Toronto Real Estate Board estimates that only 4.9% of residential real estate transactions are by foreign buyers and more than half of those are either buying for themselves or a family member. I concur with this estimate as virtually all of my ‘foreign’ buyer clients are either from other parts of the country or are buying for themselves or a family member living in the city.
Ban on Pre-Construction Speculators
This is something that the government has been trying to crack down on for years. This will be good buyers looking to get into the market and for the resale market, where investors will now go to invest in real estate.
Power for Municipalities to Impose a Vacant Home Tax
The Municipalities will wait and see how the real estate market will react to these new provincial measures before implementing a Vacant Home Tax. However, I am sure they will end up imposing such a tax in the near future because the measures announced today will not curb prices by much.
Other Measures Include:
– Expanding existing rent control systems to cover all tenants, including those buildings built after 1991
– Rebate of development cost charges to encourage building of more rental housing
– A move to identify provincially owned surplus lands that could be used for affordable and rental housing development
– $125-million, five-year program to encourage construction of new purpose-built rental apartment buildings by rebating a portion of development charges.
Overall, this will be good for the GTA because the 30-40% increases we are seeing this year are unsustainable. It will put us into bubble territory if it continues this way year-over-year and nobody wants that. For those who have been following me on social media, I have been a huge proponent of transforming single-family homes to multiple units as an investment vehicle. I continue to believe that it is a smart investment decision and now the government will make it easier to do so.
London On The Esplanade – Unmatched Location And Chic Boutique Living In The Historic St. Lawrence Neighbourhood
Extremely Rare *Sub-Penthouse* Sun Filled Corner Suite At Highly Coveted Boutique ‘London On The Esplanade’ In The Historic St Lawrence Market Neighbourhood! Approx 1000 Sqft, Open Concept Split Bedroom Layout, Floor To Ceiling Windows, Unobstructed Lake & Southwest City Views. 9 Ft Ceilings, Large Kitchen With Full Breakfast Bar, Large Master With Ensuite & Upgraded Walk-In Closet, Second Bedroom Walks Out To Balcony. Quiet Suite With No Shared Walls. Well Managed Building With Low Maintenance Fees. Minutes To Union Station, Financial, & Distillery Districts. Walk Score Of 99!
Address: 1 Scott Street #3401
List Price: $899,000
Maintenance Fee: $581.23
Extras: Stainless Steel: Fridge, Stove, Dishwasher, Microwave Rangehood. Washer & Dryer. All Electrical Light Fixtures & Window Coverings Including Automatic Blinds.
One Bedroom With Private Elevator Access Available At The Residences At The Ritz-Carlton
Welcome To The Prestigious Ritz-Carlton Residences Offering A New Standard Of 5 Star Downtown Living. 24Hr Concierge, Valet Parking, Spa, Pool, Exercise And Access To All Hotel Amenities. Stunning 1657Sq. Ft. One Bedroom With Private Elevator Access. Clean North West City And Lake Views. Stunning Luxury Finishes, Chef’s Kitchen, Gas Fireplace In The Living Room, Herringbone & Marble Floors, Spa-Like Ensuite And Walk-In Closet, Lots Of Storage.
Address: 183 Wellington Street West, Suite 3801
List Price: $2,000,000
Maintenance Fee: $2,080.50
Extras: Sub-Zero Fridge & Wine Fridge, Wolf 5 Burner Gas Stovetop, Wolf Built-In Oven And Built-In Microwave, Miele Dishwasher, Side By Side Washer & Dryer, All Window Treatments
2 Bedroom Condominium In A Highly Sought After Luxury Building
Tridel’s Luxurious “Palace Gate” Condo – Rarely Offered In A Highly Coveted & Sought After Building With Million Dollar Units. Lowest Priced In The Building. Renovated Units Sold For Over $1.1 Million! Approx. 1,500 SF, Condo Fees Include Utilities And Cable TV. Ideally Located, Steps To Shopping, Ttc, 401/407, Groceries, Restaurants. Large Balcony Overlooking Greenery W/ Unobstructed Views. Excellent Facilities Incl. Swimming Pool, Guest Suites, Recreation Centre, And 24Hr Concierge.
Address: 3181 Bayview Ave, Toronto
List Price: $859,000
Maintenance Fee: $932.34
Extras: Stainless Steel Refrigerator, Stove, Washer/Dryer, All Light Fixtures
Stunning Upscale Monarch Freehold Townhome. 9Ft Ceilings Main Flr, $$$ In Upgrades, Modern Kitchen W/ Full Height Dark Maple Cabinets & High Quality Caesarstone Counters, Butlers’ Pantry, Professional Range Hood, Beautiful Pot Lights, Large W/I Closet & Double Sick In Master Ensuite. Fenced Interlocking, Park Up To 4 Cars! Minutes To 404, Top Schools, Plaza, Restaurant, Bank, & More!
Address: 10314 Woodbine Avenue, Markham
List Price: $989,000
Type: Freehold Townhome
Parking: 4 Spaces
Extras: Stainless Steel French Door Refrigerator, Stove, B/I Dishwasher, Washer/Dryer, California Shutters, Window Coverings. Central Air, Garage Opener, Keyless Pad.
Very Large One-Bedroom Suite With Ample Space To Live And Entertain. Includes An Eat-In Kitchen, Huge Dining Room And Separate Living Room. Bedroom Includes Walk-In Closet. Terrific Easterly Vistas That Include Lake Views. Ready To Move-In And Add Your Personal Touches. Feel Right At Home With 24/Hr Concierge, Gym, Pool, Sauna, Squash Courts, Business Centre & Rooftop Garden With BBQs & Hot Tub. Steps To PATH, TTC, Eaton Centre, Hospitals, Financial District, Ryerson University & More!
List Price: $489,000
Parking & Locker: Included
Intersection: Bay / Dundas
Square Footage: 956 Sq Ft
Maintenance: $671 / Month Including Water, Hydro, Heat, Central Air Conditioning
Building Amenities: Concierge, Exercise Room, Indoor Pool, Party / Meeting Room, Rooftop Deck / Garden, Squash / Racquet Court