New Toronto Condominiums Sales Increase

New Toronto Condominiums sold in January, 2010 continued a positive trend, up 302.5 per cent from the same period last year.

Toronto registered 201 Condominiums sold in January 2009 and 809 Condominiums sold in January, 2010.

Despite the constant government regulation and taxation, the Toronto Real Estate industry continues to offer value in all markets both Low rise and High rise.

Comparing other years, January sales are up 11 per cent over January 2008 and 17 per cent over January 2007.

The comparison to the bottom of the market in 2009 is somewhat misleading as this represented the bottom of the market in regards to the Global Economic Crisis.

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Toronto Downtown Condos

Canadian Real Estate Sold By Non-Residents

When a non-resident sells Real Estate in Canada, they are required to file for a Tax Certificate with the Canada Revenue Agency within 10 days of the sale.

This certificate can take two to three months to obtain and in the absence of this certificate the buyer becomes liable for any tax owed by the non-resident seller.

To protect the buyer a provision says that if the seller is a non-resident the buyer has the right to withhold 25 per cent of the selling price in trust until a certificate acceptable by the CRA is produced.

For further details on selling Canadian Real Estate by a non-resident check with the Canada Revenue Agency near you.

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Toronto Downtown Condos

Yorkville Condos

Toronto Real Estate To See Tighter Mortgages

Canada's Finance Minister is about to announce changes in the Real Estate Mortgage industry in an effort to tighten the rules.

It is understood from government officials familiar with the new plan that a debt-affordability test may accompany any purchaser of a government-insured mortgage.

The amortization period might be limited to 30 years under the same plan that will be announced in Ottawa February 16Th.

The Bank of Canada Governor continues to pledge to keep the main interest rate at a record low of 0.25 per cent through June.

Toronto Real Estate continues to show gains in sales and average prices and as a result there is now talk of a housing bubble.

Just perhaps a rate increase and change in affordability might just slow down the Real Estate market.

Whether you are looking to buy or sell Toronto downtown Condos you will need an experienced and knowledgeable Toronto Remax Realtor to guide you through the downtown Condominium market.

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Toronto's Condo Boom In Perspective

Toronto MLS Sales Strong Start in 2010

Real Estate Association's Rules Challenged

Canada's Competition Bureau has filed an application with the Competition Tribunal seeking to strike down The Canadian Real Estate Associations specific rules on the use of its Multiple Listing Service.

This will be an interesting application in so far as the general public will now learn what is involved in the listing and selling of homes throughout Canada.

A lot of legal implications are in place as well as checks and balances with the various Real Estate Boards, their member brokers and licensed Brokers and Salespersons.

There has always been competition within the Real Estate industry and most important fair and responsible rules and regulations.