CANADA THE “NEW SWITZERLAND”

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I read with interest the recent article by Kata Dmitrieva and Jeremy Van Loon in Bloomberg Business, in which Canada is referred to as the “new Switzerland.” In it, the authors mention our country’s reputation for safe living and banking as a driving force in Toronto’s vibrant housing market. I couldn’t agree more.

I also appreciate City of Toronto planner Jennifer Keesmaat downplaying the doom-and-gloomers who predict a housing bust with the fact that our buildings are in demand, and the completed ones are mostly occupied. In fact, according to Royal Bank of Canada Chief Executive Officer David McKay, our supply of high-rise homes may not even meet demand.

Toronto welcomes about a quarter of the 250,000 immigrants who come to Canada every year, many of whom buy or rent condominium suites. With Geneva-based World Economic Forum ranking Canada’s banks the world’s soundest for seven years in a row, foreign investors also feel confident spending their money here.

The new Switzerland when it comes to housing? I like it. Now, let’s work on our chocolate!

TORONTO THE GREAT!

Treat yourself to a visit to the website Toronto.ca, and zero in on the World Rankings page for 2015. Our great city has already garnered three impressive international accolades this year. First, Toronto was named The Economist’s Best Place to Live in the world in a comparison of 50 cities. Criteria included business environment, democracy and global food security. Toronto also ranked 8th out of 50 cities in the Safe Cities Index, out of 50 cities compared for digital security, health security, infrastructure safety and personal safety. And third, Toronto ranked 12th in the Sustainable Cities Index (the highest North American City in that ranking). Again, this was out of 50 cities ranked on social, environmental and economic sustainability. And of course, this year, Toronto will be home to the Pam Am Games in July and the Parapan Am Games in August.

Last year, our City gleaned 15 impressive titles including being named the world’s most tax-competitive major city by KPMG, the world’s most resilient city by the Grosvenor Group, and the world’s top intelligent community by the Intelligent Community Forum.

The simple fact is that we live in a city that continually gains international attention because of the wonderful quality of life we enjoy. Within this grand context, newcomers can choose from a multitude of housing styles including condominiums – the longtime choice of urban dwellers around the world. No wonder so many immigrants settle in Toronto, the most amazing city on the planet!

ACCOLADES FOR TORONTO KEEP ROLLING IN!

The 2015 ranking of the most liveable cities in the world by the Intelligence Unit of The Economist is in, and Toronto comes in fourth! In fact, Canada has three of the top five, with Vancouver third and Calgary sharing fifth place with Adelaide, Australia. The ranking surveyed 140 cities in five categories: stability, health care, culture/environment, education and infrastructure. Pretty impressive!

This new accolade comes hot on the heels of Toronto being named the world’s most liveable city by Metropolis Magazine, and earlier this year, The Economist Intelligence Unit rating Toronto the best place to live in the world based on six of its indexes. Relatively Speaking, our new home prices may be the highest on record here, but purchasing real estate in Toronto and the GTA is still a bargain by world standards – especially as we are continually ranked among the top places to live. We truly enjoy an enviable quality of life by world standards!

TORONTO NAMED TOPS IN THE WORLD AGAIN!

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Architecture and design trade publication Metropolis Magazine has named Toronto the most liveable city in the world! This accolade comes hot on the heels of The Economist ranking Toronto the world’s best city to live in earlier this year, along with several other distinctions from a variety of sources.

Metropolis Magazine arrived at the decision to name Toronto first, Tokyo second and Helsinki, Finland third by examining quality of life in numerous categories such as urban planning, architecture, amenities, walkability, housing and preservation. Of particular interest was Toronto’s Tower Renewal initiative, which promotes the rejuvenation of our high-rise buildings constructed in the post-war boom where possible, rather than destroying them. In this respect, the magazine’s editorial director, Paul Makovsky, praised Toronto as a role model among cities around the world.

Once again, congratulations, Toronto. We really do live in the best place in the world!

YORK CONDOS COMING THIS FALL

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Live steps to York University’s new Markham campus!

Hot on the heels of The Signature Condominium Collection, Remington Homes’ sold-out success in Downtown Markham, this renowned builder is preparing for a fall launch of York Condos – the next generation of residential opportunities in this evolving neighbourhood.

NOW is the time to register for this new residence, which will be situated steps to the newly approved York University campus. York University Markham Centre will be a satellite campus designed to accommodate over 4,000 students initially, with the possibility of future growth. It will be the first university campus in York Region, which is one of the fastest-growing Regions in Canada.

Within this vibrant context, the entire Markham Centre area is undergoing an exciting metamorphosis, with Cineplex Cinemas now open, and the Atos Markham Centre on Main Street Unionville having drawn international attention during the Pan Am/Parapan Am Games this summer. Imagine having that facility and a York U campus practically in your backyard!

And there is so much more! Within Markham Centre, Downtown Markham is the largest planned mixed-use community in Canada, with outstanding retail and commercial venues, as well as incredible residential opportunities. Downtown Markham spans the area west of Warden Avenue, east of the GO rail line, south of the Rouge Valley and north of Highway 407. Shops, parks, eclectic restaurants, offices, an art program, fitness facilities, access to public transportation, green space, trails and amazing walkability set this address apart as a special place to live.

Watch for details on York Condos coming soon. For the optimum chance to live, work and play in this outstanding community, register TODAY at DowntownMarkham.ca.

Downtown Markham

Downtown Markham

TAKE THAT, NAYSAYERS!

I am always amazed at how negativity can abound about real estate when the facts bear out a positive outlook. Take new condominiums in the GTA, for example. We have been reading concerns about the unsold inventory of condo suites, yet Urbanation reported that during the second quarter of 2015, the figure dropped 13 per cent over last year’s same time period. Often considered a major indicator of how well condos are doing in the marketplace, unsold inventory seems to be telling us things are just great, thank you very much.

Demand also continues to be strong in the resale condo market, with TREB statistics noting that July 2015 sales were up 14.4 per cent over last July. And for all of the sensational media about skyrocketing housing prices in general, the overall sales figure accounting for both low-rise and high-rise resale homes and condos was still up 8 per cent over July 2014. According to TREB, demand continues to outpace supply.

All of this comes at a time of the year when home sales typically dip, with people vacationing and making use of their cottages during the summer weather. The surge of condo interest definitely has to do with the average price of low-rise homes being out of the financial reach of both young buyers and baby boomers. The appeal of buying now, while mortgage interest rates are still historically low and before prices go up again, is irresistible for many – especially for completed suites they can move into quickly. Add continued strong immigration to the equation, and it looks as though the GTA’s condo market is on track for another great year. The big picture is rosy!

HURRY FOR PRE-CONSTRUCTION PRICING AT THE LINK IN BURLINGTON

The Link

The Link – Phase 2

Phase 2 at The Link Condos + Towns in Burlington is selling so well, that ADI Development Group is gearing up for the onset of construction. NOW is the time to get in on pre-construction pricing, while you still can. There is a huge pent-up demand for condominiums in Burlington, where The Link is located at Dundas Street and Sutton Drive. ADI Development Group’s condominium community is well named, as it is “linked” to Bronte Creek Provincial Park and scenic Bronte creek.

Stylishly contemporary, the condos and towns are the brainchild of the renowned architectural firm RAW Design. Luxury reigns throughout these well-appointed residences and the two-storey amenity centre that will encompass fitness facilities, a party room with a kitchen, lounge and dining room, plus pools, sauna and terrace. Purchasers hail from diverse backgrounds and ages, thrilled to be able to enjoy carefree living in the city they know and love.

Don’t miss the fabulous Summer incentives! If you would like to be part of this incredible condominium community, act now. The Presentation Centre is located at 5210 Dundas Street West. For more information, visit www.adidevelopments.com.

BANK OF CANADA CUTS RATE AGAIN

On July 15, 2015, the Bank of Canada reduced its overnight lending rate to 0.5 per cent from 0.75 per cent. As money lenders typically follow the Bank of Canada, we are likely to see a lowering of mortgage interest rates again. In fact, Toronto-Dominion Bank was first out of the gate, cutting its prime rate by 10 basis points to 2.75 per cent.

Opinions among experts differ, but I see this as yet another boon to the new home real estate industry. With mortgage money even cheaper, the demand for homes may exceed supply, and prices will increase. With the average new home prices in the GTA already at an all-time high, the lower rates will make it possible for more first-time buyers to live their dream of home ownership. In addition, the opportunities for investing are phenomenal.

Through it all, condominiums are sure to remain the popular choice for the spectrum of the buying public looking for a great return-on-demand. The recent Bank of Canada move fuels that trend, and we have continued stability to look forward to.

EAST UNITED TORONTO CONDOS HOT ON THE MARKET

East United

East United

After almost two months on the market, East United Toronto Condos, located at Berkeley and King in Downtown East, is on fire. NOW is the time to register for this incredible condominium that is literally a walker’s and biker’s dream. Sales are soaring at this condo, where residents can consider owning a vehicle an option rather than a necessity. This address earns a Walk Score of 97, a Transit Score of 100 and a Bike Score of 90! The Financial District, major hospitals, Entertainment District, St. Lawrence Market, Corktown, Distillery District, subway and lake are all just a stroll away from this Old Toronto neighbourhood.

Developed by SigNature Communities, Berkshire Axis Development and Andiel Homes, stylish East United Condos will inject new architectural life into the area on an L-shaped property that is currently home to century homes, a historic former stable and the original Christie’s Cookies Bakery. Ideal for people of all ages and lifestyles, the condominium will offer a variety of suite sizes and configurations, as well as luxurious and innovative building amenities.

Award-winning SigNature Communities has been building throughout Canada, the U.S. and Caribbean for more than 30 years. This forward-thinking company is dedicated to environmentally responsible design and construction, as well as bold and distinctive architecture. Both of these commitments are served well at East United Toronto Condos. Register TODAY at www.signaturecommunities.ca.

KING BLUE BY GREENLAND NOW UNDER CONSTRUCTION

The landmark corner of King Street West and Blue Jays Way in downtown Toronto is taking on a whole new character, as KING BLUE BY GREENLAND is now under construction. This condominium has been a tremendous success, with buyers appreciating the benefits of living at this phenomenal location. Greenland Holding Group Co.’s residence will occupy a full acre at this significant intersection, where the surroundings buzz with world-class amenities. Live close to the Financial and Entertainment Districts in an area that pulses with exciting life.

And how about a 100% Walk Score? You can literally walk to just about everything from this location, including bus and subway stops, theatres, nightlife, restaurants, shopping, galleries, and even sports games between major teams.

The two towers that make up KING BLUE BY GREENLAND will rise to 44 and 48 storeys, with a striking exterior by Page + Steele/IBI Group Architect that incorporates the historic Westinghouse factory building. Interiors are by Munge Leung. From the chic lobby to the landscaped rooftop terrace and pool, the amenities are incredible. Among the elements that distinguish KING BLUE BY GREENLAND is the fact that it will house Theatre Museum Canada, which will feature exhibits and educational programs.

Prices for the beautifully appointed suites start from the low $300’s. For more information and to register for updates, visit kingbluecondos.com.

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