Canadian Commercial Real Estate Falling

The Canadian Commercial Real Estate Market remains under pressure as rental rates in Toronto and Calgary are falling and both begin to show the effects of the recession.

In the second quarter of 2009, companies covered by Desjardins Securities showed a 4% decline in weighted year-over-year per unit/share growth, in large part due to the excessive losses at some large Real Estate investment trusts.

The effects of the current recession is beginning to hit the bottom line of REITs more significantly, with cash flow declines underway.

Toronto's Commercial Real Estate fundamentals in the office sector, are a concern with net effective rents as low as $20 a square foot, because of scarce tenants and new buildings now completed. Similar problems exist for the Calgary Commercial Real Estate market as well, as job losses and property overbuilding are combining to drop rent levels there as well.


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Toronto Commercial Real Estate Listings

Toronto's Luxury Condos A Bargain

Toronto New Home Low-Rise Sales Surge

Total New Home Sales in the Greater Toronto Area for July were 3,119 down just 0.3% from 2008.

Again the general improvement was:

• Pent-up demand
• Improved Consumer confidence
• Super low mortgage rates
• Builders offering great deals

There is a shift away from the Condo sales to low-rise housing like single-detached, semi-detached and town-homes.

High-rise sales of Toronto area Condos fell 44 per cent but low-rise homes surged 120 per cent in July, 2009.

Of the total 3,119 new Toronto home sales in July, 41 per cent were Condos and 59 per cent low-rise homes.

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HST To Increase Toronto Condo Fees

Toronto Condos will see a seven per cent increase in costs when Ontario like British Columbia levy the regressive HST July 1, 2010.

The Harmonized Tax does not apply directly to Condo fees but it does apply to all the expenses like Hydro, landscaping, repairs and maintenance.

Maintenance fees are to increase about 7 per cent so a Toronto Condo maintenance fee of $400.00 should rise about $28.00 per month.

It appears that the Toronto Land Transfer Tax and the Ontario HST are both making home ownership less affordable for purchasers.

Ontario will cushion this blow to consumers with cheques up to $1,000.00 from the $4.3 billion given to the province by the Federal Government to go along with this tax.

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New HST Tax To Impact Toronto Condos

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Calgary Downtown

Calgary Downtown has this great Olympic Plaza, we saw it first in the evening and it was very classy with trees lit up with different coloured lights.

The design is still very modern and most attractive with art works and a metal fence around the perimeter. Fountains in the summer and an ice rink for winter skating.

The Olympic Plaza is accessible by Calgary's Light Rail System, the C-Train one of North Americas most travelled LRT. Even the downtown LRT station stops are well lite at night with the lights changing different colours.

Just to the left of the Plaza is the pedestrian only, Stephen Avenue Walk:

• 60,000 people during the lunch hour in the summer
  
• Live performances, buskers, music, festivals, artists and more
  
• Nine major shopping centres/department stores
  
• Downtown's retro cinemas
  
• Some of Calgary's finest restaurants, pubs, cafés and bars
  
• Unique boutiques and galleries
  

The Calgary downtown planning seems to work, and is a great example for Downtown Toronto to follow. We especially liked the older buildings preserved on Stephen Ave.Walk, yet carrying on as modern boutiques and galleries.

Many of the luxury Calgary Hotels are close by and give visitors a chance to see Calgary's finest.

Calgary Condos like the Princeton Grand, pictured above her,are located on a Riverfront park with easy access to Downtown Calgary.

As Calgarians begin to move downtown, more choices of location and prices are sure to come, just like affordable Toronto Condos.

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Malibu At Harbourfront Condos

Now is the time to enjoy the Toronto Condo lifestyle. Forget the commute, park the car and walk to all the downtown attractions and live close to the Toronto Waterfront here at Malibu At Harbourfront Condos

The TTC stops at your doorstep, Lakeshore Blvd and the Gardiner Expressway are just minutes away, talk about convenience.

Very close by:

• Air Canada Centre
• Rogers Centre
• CNE
• Ontario Place
• Old Fort York
• Toronto Islands
• CN Tower
• Several Waterfront Parks
• Exciting King West close by

The Malibu Condos at Harbourfront include some of these features:

• Beautiful City and Lake Views
• Underground parking
• Pool
• Gym
• Outdoor rooftop terrace with outdoor kitchen and barbecue
• Outdoor theatre
• Billards and more...
• Click here for more information on Malibu Condos at Harbourfront for sale or rent!

When you are ready to buy or sell Toronto Harbourfront Condos, or you are looking for a Toronto Realtor contact Iris Li, 416-505-8023 or by email.

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