Luxury Toronto Condos Heightened Interest

High-end luxury Toronto Condos like the Residences At Ritz Carlton are selling out their suites despite the earlier recession.

Most of the following luxury Toronto projects are all well under construction:

• Four Seasons Hotel and Private Residences Toronto
• Museum House
• The Residences at Ritz Carlton (Pictured above)
• Shangri-La Toronto
• Trump International Hotel and Tower Toronto

Despite economic uncertainty buyers purchased from a variety of well known International brands showing even the high end exclusive products could survive the world wide recession.

Some of these projects have over a third of the purchases being overseas buyers.

It seems that Toronto's unprecedented flurry of luxury condominium projects now appear to have survived the recession.

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Toronto,Vancouver Real Estate Recovery Underway

By Derek Abma, Canwest News Service July 13, 2009

Another real estate organization is declaring an end to Canada's housing market downturn.

Re/Max said on Monday a recent surge in housing sales, particularly in Canada's biggest cities, is "a clear signal that the housing sector has shifted into recovery mode."

It supported its argument by citing resales in the Toronto and Vancouver regions last month, which were among the most robust levels ever seen. Toronto's sales of almost 11,000 units, up 27% from a year earlier, set a new record for June. Vancouver's sales of almost 4,260 units were up more than 75% from last year and just short of a new June record.

"While sales are the leading indicator, there are other clear signals that recovery is indeed underway," Elton Ash, regional executive vice-president of Re/Max for Western Canada, said in a statement. "Renewed consumer confidence, albeit cautious, has been key, supported by improved economic news."

Ash also said there is a shrinking gap between sales prices and asking prices, and in a number of cases, the former is exceeding the latter.

Michael Polzler, Re/Max's executive vice-president for Ontario and the Atlantic region, said: "Canadians believe in home ownership, a fact best illustrated by the purchasers who ventured forward in recent months and snapped up some of the best real estate deals this market has seen in years."

Re/Max said market conditions have become more balanced following a period in which buyers held the clear upper hand over sellers for a half-year or more. It said the current sales pace might be unsustainable, but nevertheless indicates more stability for the market in the longer term.

The Re/Max report follows one issued last week by one of its competitors, Royal LePage, that indicated Canada's housing real estate took a sharp turn to the positive in the second quarter of this year after a sluggish winter.

Also last week, RBC Economics said greater affordability -- the result of lower house prices and falling mortgage rates -- was luring homebuyers back into the market. It said the overall cost to own a standard bungalow, including mortgage payment and utilities, had dropped by more than 10% on average between last year's fourth quarter and this year's first quarter.

Douglas Porter, deputy chief economist for BMO Capital Markets, said it's clear the Canadian housing market has taken strides forward since it was essentially "frozen over" late last year and in the early part of this year.

© Copyright (c) Canwest News Service

High Flying Canadian Olympics

Air Canada recently showed off their contribution to the upcoming Winter Olympics in Vancouver.

I remember that day, it was raining (as usual?) in Vancouver but the weather was great in Toronto.

If the ceremony was held here in Toronto a lot more groups and organizations could contribute to that big moment.

The Boeing-777 looks great in the colours chosen and Air Canada will schedule this aircraft to many European and Asian capitals of the world.

Destinations like Frankfurt, Paris, London, Hong Kong, and Sydney Australia will see the Air Canada painted Aircraft.

Thousands upon thousands of airline passengers departing and arriving from these cities will also see this important piece of "Real Estate".

I am sure interest in Vancouver and also Toronto will increase and who knows, all those Vancouver Condos and Toronto Condominiums might just have a buyer that saw this Air Canada Olympic painted Boeing-777.

When international visitors start arriving in Toronto and Vancouver for the Olympics we are sure they will notice North America's largest Condo Market in Toronto as well as the scenic world class Condos in Vancouver.

Both Toronto and Vancouver have world class luxury Condos and our Canadian Real Estate is showing strength for the future.

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HST To Drive Up Toronto Condos Fees

HST is on the minds of homeowners and renters in the St. Paul's byelection in Toronto.

The Liberal candidate Eric Hoskins that rent and the cost of utilities will not go up but was unable to give any numbers or fact on how that would be possible.

Liberals close the door on PC candidate

( Source:Sun Media)

Taxpayers are "horrified" by the government's new Harmonized Sales Tax, insists the Progressive Conservative candidate running in Thursday's St. Paul's byelection.

"I have been to about 6,000 homes in the last four weeks ... People are really confused about the tax and are confused about their pocket book," Tory hopeful Sue-Ann Levy said outside Liberal opponent Eric Hoskins' St. Clair Ave. W. campaign office yesterday.

Levy, who has taken a leave of absence from her job as a Toronto Sun columnist, branded the HST "the largest tax grab in Ontario history" which will drive up the cost of rent and utilities among many other things.

"During this entire campaign, Eric Hoskins has been making claims that rent and condo fees will not go up under Dalton McGinty's proposed Harmonized Sales Tax. Yet, he has not given us any numbers, any substantial facts on how this could be," Levy said. "St. Paul's voters deserve answers."

According to the Federation of Rental Housing Providers, the HST will drive up rents by $300. The Association of Condominium Managers of Ontario says condo fees will rise by 6%.

"I want to know where Mr. Hoskins really stands on this. Does he agree or disagree with these numbers?

"If he does not agree, I want to see his numbers. I want to see hard facts that prove these fees will not increase," Levy said.

She also called on Hoskins to explain comments he has made about how the HST and other plans the Liberals are implementing will cost the government $2 billion in revenue.

Staff at Hoskins' campaign office closed the building's open doors just before Levy started her press conference.

One staff member said Hoskins was unavailable for comment.

The NDP candidate running in the by-election is Julian Heller.

Read Kevin Connor's full article Liberals close the door on PC candidate in the Toronto Sun (September 14th, 2009).

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Toronto Real Estate August Market Shows Strength

Toronto Real Estate Sales strengthened in August, to a reported 8,035 sales, up 27 per cent from August 2008.

The average Greater Toronto price increased to $387,921, up six per cent from the same month last year.

Year to date sales climbed to 58,421, an increase of two per cent for the first eight months of 2008.

Several Central Toronto Real Estate Districts had Condos show positive gains in year over year prices.

Downtown Condos in the ( C01 ) area saw their average price increase from $341,668 to $357,532 for August 2009, up 4.6 per cent.

Condos in ( C08 ) saw their average prices increase 7.2 per cent to $314,792.

Our Toronto Real Estate web site has new Condos and Loft listings in all Real Estate districts of Toronto,

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