It's already looking like 2019 is going to be another strong year for the real estate market in Toronto!
Continuing off of last year's trends, we are seeing the condo sector remain extremely strong as it is the first point of access for many first-time buyers & investors who are still feeling the effects of the mortgage stress-tests brought in.
The average price for a condo in the City of Toronto has now reached almost $595,000 with most “entry-level” condos now starting in the $450K range!
If you have visited the east end of Harbourfront in the past year, you have definitely seen the construction underway of Toronto’s newest luxurious downtown neighbourhood by Tridel & Hines!
The master-planned community (named Bayside Toronto) is comprised of 4 condo buildings.
The first of which (Aqualina) took occupancy earlier this year, to be followed by Aqua Vista, then Aquabella and finally Aqualuna which is slated to be finished construction by the end of 2020/early 2021.
It’s not just you, the weather lately in Toronto has been grey & depressing to say the least!
Unfortunately the forecast for this week has more of the same in order with the city only receiving 5 hours of sunlight today (Tuesday) while Wednesday to Friday will only get roughly 1 hour of sun per day! :(
Drug dealers, the Mafia, Cartels and shady banks/underworld finance typically come to mind when money laundering is brought up, however many would be surprised to here that experts in Canada are warning that the legitimate real estate market (specifically in Toronto) is now the main target for money-laundering as homes reach increasingly historic prices.
The notion of owning your own single-family detached home with a big yard & nice neighbours has historically been the path many would-be homeowner’s aspire to, however with increasing property prices in Toronto over the past 15 years, many people have had to change their ideal location to purchase that desired property!