Feeds:
Posts
Comments

The RealNet Canada Inc. GTA statistics are out for March and the first quarter of 2015, and condominium sales continue at a steady rate. The average price of a high-rise home has grown to $450,133, which is up 3 per cent from March 2014, but is still incredibly lower than the new average price of low-rise homes, which has reached an astounding record high of $738,731. That’s a $288,598 difference!

In the news release from BILD, president and CEO Bryan Tuckey cites the supply-and-demand phenomenon as the reason for soaring low-rise prices. There simply are not enough ground-related homes available to satisfy the market, which means new condominium development is critical across Toronto and the surrounding 905 areas to keep the supply of new homes healthy.

And no wonder so many new home buyers across the GTA choose condominiums for their residential and real estate investment needs. Price is only one factor. By virtue of their make-up, with maintenance, repair and upkeep of common elements being handled for residents, condominiums free up valuable time to enjoy family, friends and the beautiful amenities in their building.

Prices will continue to rise, so anyone thinking of entering the new home marketplace will want to explore condominium choices sooner rather than later. It is likely the best investment you’ll ever make in your personal and financial futures.

VIVA VIDA!

Vida Condos Rendering

Vida Condos

Baker Real Estate Incorporated is delighted to handle the launch of sales at Vida Condominiums at Bayview Village, Castle Group Developments’ brand new residence situated next to the subway and across from fabulous Bayview Village shopping centre! Interest in this condominium is overwhelming, with urban sophisticates thrilled at the prospect of living out Castle Group’s motto “Live Life Connected.”

Imagine being able to stroll to Bayview Village for a jolt of caffeine at an espresso bar, fine dining at Il Fornello or Origin North Restaurant & Bar, or to shop for fashion choices for the entire family. This is definitely the “haute” lifestyle.

And can you believe that prices at Vida will begin from $199,990? It is incredible for such a coveted address created by a prestigious, award-winning developer. In the past, Castle Group has been recognized by BILD with Best Building Design, Best Suite Design under 750 sq. ft. and Best Suite Design over 1,500 sq. ft. The company’s highly creative development team is proud to meet and exceed today’s savvy condominium buyers’ expectations.

For more information and to register for this phenomenal opportunity, visit VidaCondos.com.

Vida Rendering

Vida

When the subway is next door and Bayview Village is only steps away, the address is Vida. We’re thrilled to introduce Vida by Castle Group Developments, a luxury condominium located at Bayview and Sheppard Avenues.

The Vida address is as convenient as it is prestigious. Residents will be able to step out their front door and into one of the city’s most upscale shopping destinations at Bayview Village, which offers more than 100 luxury retailers, gourmet grocers, restaurants and cafes. Yonge Street is only a five minute walk away and offers a variety of culture and entertainment options with the Art Gallery of North York, Toronto Centre for the Arts and movie theatres. Nearby hospitals include Sunnybrook and North York General.

For those seeking an invigorating respite from shopping, there’s a plethora of nearby parks and scenic walking trails, including Rean Park, Hawksbury Park and Bayview Village Park.

Vida Entrance

Vida Entrance

The close proximity to transit makes commuting a breeze with the Sheppard subway line steps away along with access to the 401 and the Don Valley/404.

Vida’s stunning and urban architecture by HCA Architecture features a whimsical façade, lush landscaping and a dramatic arched entranceway.  Amenities take urban living to the next level with a Wi-Fi lobby lounge, party room, outdoor dining and BBQ area, fitness centre, sports bar and retail shops and services on the main floor.

Suites at Vida feature expansive windows and layouts, gourmet chef kitchens with fine-crafted cabinetry, lavish bathrooms with imported ceramic tiles and opulent suites with spacious closets. In a 3, 6 and 8-storey steeped design, Vida offers suites in studio, one bedroom, one plus den, two bedroom, two plus den, two bedroom plus flex and 3 bedroom layouts. Sizes range from 322 to 1,600 sq. feet. Prices start at $199,990 to $1 million.

For more information on Vida, register at vidacondos.com

Urban renewal is alive and thriving in downtown Toronto’s east end, where developers are playing a major role in revamping previously neglected areas with beautiful mixed-use condominium communities. There is a huge spotlight on the sector of the city east of Yonge through to the Waterfront Toronto revitalization of the West Donlands. This massive revamp includes glorious public realm spaces as well as condominiums and commercial/office/retail venues. In addition, last year Mayor Tory proposed plans to transform the East Donlands into a business hub with 70,000 new jobs.

These sections of Toronto offer convenient access to the Gardiner Expressway and Don Valley Parkway for easy-in, easy-out trips to and from the city. They are also home to a wealth of amazing amenities, with more coming on stream. It simply makes sense that people will want to live downtown east of Yonge Street, as well as work there. Fortunately, our condominium developers foresaw this demand and are coming on stream with gorgeous new options.

One example of the new residential opportunities in Downtown East is SigNature Communities’ East United Toronto Condos at Berkeley and King, which is coming onto the market soon. Like so many condo neighbourhoods in Toronto, East United Condos will be situated within walking distance to an enviable number of amenities. In fact, it ranks in with a Walk Score of 97 out of 100, a Transit score of 100 and Bike Score of 90. Within blocks, residents will be able to stroll to the Distillery, Financial and Entertainment Districts, St. Lawrence Market, shopping, restaurants, nightclubs, parks, the lake and so much more! Anyone interested should register now at www.signaturecommunities.ca.

Emerald City

Emerald City

The first quarter of 2015 is off to an exciting start, with exciting new condominium communities and additions coming onto the market from our clients at Baker Real Estate Incorporated. Let’s begin with The Colours of Emerald City, the newest three-condominium phase at ELAD’s highly successful, master-planned North York community. Situated at Don Mills and Sheppard Avenue, Emerald City offers one of the best locations in the city, steps from subway access and close to fabulous Fairview Mall. Visit http://www.emeraldcitylife.ca.

Last year, Solmar Development Corp. launched sales at Park Avenue Place at the southeast corner of Jane Street and Rutherford Road – adjacent to the incredible Vaughan Mills shopping centre. One of Canada’s largest, this centre is like a city unto itself, with everything from leading fashion and lifestyle brands to restaurants, services and even LEGOLAND Discovery Centre. Solmar is releasing Phase 2 of Park Avenue Place, which is also close to schools, the new subway extension and major highways. The second residence in the community will be every bit as enticing as the first, with gorgeous suite designs, high-quality finishes and access to wonderful amenities. Visit http://www.parkavenueplace.ca.

Watch for the Grand Opening of The Link Condos + Towns Phase 2 in Burlington this spring. ADI Development Group’s first phase has been phenomenally successful. The community’s one-of-a-kind location is the inspiration for its name. Situated at Dundas Street and Sutton Drive, The Link is “linked” to Bronte Creek Provincial Park. With the condominium market in Burlington being fairly new, response to this luxurious residence has been outstanding. Visit http://www.adidevelopments.com.

If Toronto’s Downtown East is your residential destination, consider SigNature Communities’ East United Condos at Berkeley and King, coming soon. With a Walk Score of 97, a Transit Score of 100 and a Bike Score of 90, this condo community is ideal for people of all ages and lifestyles – anyone who appreciates convenience. In fact, on the Walk Score website, this location is considered a Walker’s and Biker’s Paradise! Live minutes to the Financial District, major hospitals and the Entertainment District. You will find a variety of suite sizes and configurations from SigNature Communities. Register now at http://www.signaturecommunities.ca.

With tickets now available for the 2015 Pan/Parapan American Games, sales are really heating up at Canary Park Condominiums, the newest phase in Canary District, which will become the CIBC Athlete’s Village during the games. Dundee Realty Corporation and Kilmer Van Nostrand Co. Limited’s award-winning, 35-acre Downtown East urban village is next to 18-acre Corktown Common Park in Toronto’s Downtown East. Located at Front Street and Bayview Avenue, Canary Park is a mid-rise residence close to a wealth of wellness-themed amenities. Visit http://www.CanaryDistrict.com.

The Rosedale on Bloor Condos by Easton’s Group of Hotels is coming soon to 387 Bloor Street East in Toronto, offering two towers with handy retail venues at their bases. Location will be a huge draw here, as the condominium is only a three-minute walk to the Bloor Danforth Subway, five minutes to Yonge and Bloor, six minutes to Yorkville – and residents will be able to stroll to both the University of Toronto St. George campus and Ryerson University in under 20 minutes. Discover an array of amenities and a variety of floorplans in Easton’s Group’s design.

This spring, construction will begin on Tower Hill Developments’ highly successful 2221 Yonge, which will now feature 12 new floors, taking the building to 58 storeys. The all-star design team for this outstanding condominium includes Manhattan-based Pei Partnership Architects and Toronto’s Quadrangle Architects for the striking exterior, and Munge Leung for the chic interiors. Buyers appreciate luxury in a midtown location. Visit 2221 Yonge in person; check out the website at Visit http://www.2221yonge.com.

King Blue Condominiums

King Blue Condominiums

If you have ever thought about getting into the real estate market in Toronto or the GTA as an investment, especially in a new condominium, NOW is the time to do it, for two main reasons. One, the vacancy rate in Toronto is 1.3, so finding tenants for your rental suites will be a breeze. Two, today’s renters, especially the Millennial generation, are happy to pay more to live in a brand new condominium. They appreciate the comfort and convenience of condo living, without the maintenance of a low-rise home, and with an array of amenities under their roof.

Nearly all of the new rental supply in the GTA is comprised of condominium suites. Renters come from all walks of life and backgrounds. Each year, thousands of newcomers flock to our area, and they either buy homes and condos or rent. Our population is growing by leaps and bounds, and it is estimated that we will be home to over 9 million residents by 2036. We need an ever-increasing supply of affordable homes. In the GTA, that means condos. Looking at 2014, the average price of a low-rise home reached $705,813, and high-rise $454,476 – a difference of $251,337. This is the highest recorded level ever!

We are currently experiencing historically low mortgage interest rates, which may continue for quite some time, but could rise as well. We know that condo prices will rise, so why not take advantage of this incredible situation NOW?

Remember, real estate is a “real” investment that you can see, touch and visit to check on it. The condo rental market is always expanding as well, with baby boomers coming into inheritances, empty-nesters looking to right-size their lives, and even more families choosing to raise their children in condos. For your real estate investment, consider a condo – it’s a wise move!

BRING ON 2015!

I attended a recent industry event, and I came away with renewed vigour about the new condominium market across the GTA in 2015. Speakers included some of the most respected experts in their fields, and combined with the recent RealNet Canada Inc. statistics released by BILD, we have a lot to look forward to as the year progresses. Despite the naysayers in the media, the fundamentals are strongly in place for a great 2015.

According to Benjamin Tal, Deputy Chief Economist at CIBC World Markets Inc., interest rates here in Canada will likely not increase this year – and may even go lower! He said that the current oil price scenario is actually helping a lot of Canadians, and they are already seeing some taking their savings and paying down the principal on their mortgage debt. In fact, many are making other mature decisions to pay down their debt loads in other ways. He also mentioned that the U.S. economy is moving in the right direction, and although their interest rates may increase in June, ours will likely not be affected by the rise down south.

A representative from CMHC spoke about Millennials, consumers between the ages of 20 and 34, choosing condominium living, and not just for affordability. They like the carefree lifestyle that condos bring. CMHC expects the rental market in the GTA to grow from strength to strength, and let’s face it: the rental market IS the condo market. Vacancy rates have dropped to 1.3 per cent in condos, and Millennials will pay to live in new buildings. In fact, according to CMHC, we do not have enough supply in the condominium market. From 2012 to 2036, it is expected that 2.4 million more people will move into the GTA, and they all need roofs over their heads.

Remember, 2014 was our third-strongest year ever for condo sales in the GTA, up 38 per cent over 2013. High-rise is now consistently taking more than 50 per cent of the market. Prices will go up, but are not expected to spike. If you have ever thought about buying a condominium, NOW is the time to do it.

Canary Park

Canary Park

Follow

Get every new post delivered to your Inbox.

Join 7,312 other followers