Steps to the subway. Minutes to the beach. This beautiful semi-detached house has a long private drive and an oversized landscaped yard! Perfect for first time home buyers with an opportunity to expand in the future. Quartz countertops with breakfast bar. Unexpected large walk-in closet in master bedroom. Bright and open finished basement wth 3-piece washroom suitable for extra an bedroom or recreation area.
Address: 27 Balfour Ave
List Price: $800,000
Parking: Private drive, 4 spaces
Extras: Stainless Steel Fridge, Gas Stove, Microwave Hood Vent, Dishwasher, Washer & Gas Dryer, All Electrical Light Fixtures, All Window Coverings
Click here to view the virtual tour
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.
Rarely Offered Oversized One Bedroom For Sale!
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
Click Here To View The Floorplan
New development coming to Yonge & Eglinton by Lifetime Developments.
Yonge & Eglinton has been ranked the #1 neighbourhood to live in by Toronto Life.
The new Eglinton Crosstown will make Yonge & Eglinton the liveliest intersections in Toronto.
Currently pre-selling, with special pricing and incentives. Contact me for additional details.
An image of what a new-and-improved TTC might look like has just been released. A report on the agenda for the next TTC board meeting provides an image of a new subway map featuring the Eglinton Crosstown LRT (set to open in 2021). The image also includes the Toronto-York Spadina Subway Extension. The map will be reviewed by the board this Monday, November 23; final names of new stations on Line 5 Eglinton will ultimately be decided by Metrolinx.