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Max Ortoli & Nikki Lobello
Sales Representatives
mortoli@trebnet.com

Homelife Romano Realty Ltd.
Brokerage
Independently owned and operated.

Max Ortoli & Nikki Lobello Sales Representatives

Homelife Romano Realty Ltd. Brokerage

Independently owned and operated

3500 Dufferin St., Suite 101, Toronto Ontario, M3K 1N2

Direct: 416-970-0352

Phone: 416-635-1232

Fax: 416-636-0246

Inbox: November 18-22, 2019

November 22, 2019 - Updated: November 22, 2019

 

 

In The News

 

 

 

November 18-22, 2019

 

 

 

Toronto & GTA

 

Landlords lose appeal over Toronto’s new rules to limit Airbnb, other short-term rentals

 

The Local Planning and Appeal Tribunal (LPAT) has sided with the hotel lobby and tenants in the matter of short-term rentals in the city of Toronto. They forecast this could bring forth five thousand units back to the market. The effective date of enforcement of the regulations remains unknown along with exactly what the rules will stipulate; however, the city of Toronto originally proposed a four per cent tax on homeowners that seek to rent out their primary residence for no more than 180 days per calendar year.

 

Ontario government introduces bill to update rules for realtors

 

New rules have been introduced at the provincial level to revitalize enforcement tools, rules on business structures, and disclosures for competing bids on properties. The bill also gives licensed brokers and salespersons to incorporate.

 

Canada

 

New Brunswick introduces amendments to allow real estate sales on Sundays

 

New Brunswick is catching up to other provinces in Canada by introducing a bill that precludes real estate sales on Sundays in order to “energize the private sector.”

 

 

USA

 

Commercial rent ‘stabilization’ bill terrifies real estate industry

 

Akin to the residential rent stabilization bill, a new proposal prescribes a nine-member rent guideline board that sets rent increases for retail and office tenants under 10,000 square feet and for manufacturing tenants under 25,000 square feet.

 

U.S. Home Prices Spiked 5.4% in October

 

Compared to the same time period last year, median home prices increased 5.4 per cent to $313,200 in October. This marks the largest increase in since July 2018. On the one hand, it is a buyer’s market for expensive homes and, on the other hand, it is a seller’s market for the lower end.

 

 

International

 

Why Indians are buying properties abroad

 

Indians are looking abroad to purchase real estate. A decrease in property values and a devaluation of the UK currency has attracted investor from India. The effective discount of approximately twenty per cent in concert with transparent real estate regulations in contrast with India has drawn an interest from foreign buyers in global cities like London.

 

In Kafka’s Birthplace, Bureaucracy Keeps Property Boom Going

 

Prague’s diminishing supply of properties available for sale is forcing prices upward. Moreover, a favourable tourism industry, rapidly growing population, and bureaucratic red tape have limited the real estate industry’s capacity to keep pace with new construction. Prices of new apartments increased 16.8 per cent over the previous year to CAD$3,704 per square foot in cities like Warsaw and Budapest. Would-be homeowners now require eleven times their gross annual salaries.

 

No end yet in sight for Dubai home price rut - Reuters poll

 

A glut of inventory continues to plague Dubai’s real estate market and the outlook for 2021 does not look any better. The median view of economists and property analysts show a decrease of 2.5 per cent in 2021.


Tagged with: real estate real estate news canadian real estate toronto toronto real estate global real estate international real estate gta us real estate
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