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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: October 21-25, 2019

October 25, 2019 - Updated: October 25, 2019

Photo Credit: Martin Sanchez

 

In The News

 

 

October 21-25 2019

 

 

Toronto & GTA

 

Toronto region housing prices could rise 5 per cent in 2020, CMHC report says

 

The current geopolitical climate around globe will continue to keep interest rates low, which will impact local real estate prices over the next few years, according to the CMHC. CMHC also predicts an increase in national sales and housing starts through 2021. Condos are expected to remain top of mind for first-time homebuyers and investors alike.

 

For government eyes sales of unused buildings

 

In a bid to save money and generate revenue for the province of Ontario, Doug Ford’s government will stock of unused and underutilized real estate, in addition to reducing office space.

 

Canada

 

Hudson's Bay Will Go Private After All

 

After the initial bid to purchase outstanding shares in Hudson’s Bay in June of this year, Chairman Richard Baker increased the purchasing price offering per share to $10.30 to take the company private. That is a 62 per cent premium over the company’s stock price in June.

 

An unprecedented number of Montreal tenants are being evicted, QS says

 

An influx of young professions and an increase in demand for short-term tourist rentals, investors and landlords are repurposing apartments or turning them into condos.

 

USA

 

U.S. Existing-Home Sales Declined 2.2% in September

 

U.S. resale transactions decreased 2.2 per cent in September despite lower interest rates. This decrease may be correlated to the nearly six per cent increase in median price from the same period last year, which marked 91 straight months of year-over-year value appreciation.  At the end of September, there was 4.1 months of inventory across the U.S.

 

College dorms are so expensive that some parents are buying ‘kiddie condos’ for their teenagers to live in

 

In a bid to save money and even earn a return on out-of-state education, parents are purchasing condos for their kids. For students without scholarships, this decision saves parents room and board and may lead to experiencing appreciating property values

 

International

 

Majority of off-the-plan apartments worth less than purchase price, data shows

 

Buyers of new construction apartments in major Australian cities are taking possession as values are now lower than their original contract price. CoreLogic reported that has shown nearly one-third of apartments purchased pre-construction in Sydney are worth upwards of ten per cent less than what was first agreed upon between buyer and developer. Over in Melbourne, nearly 53 per cent of units are valued below their original purchase price. Part of the reason is an oversupply in the high-rise segment of the real estate market that is outstripping demand.
 

China's home prices remain stable in September

 

Both new and resale home prices have increase in first-tier through to fourth-tier cities in China. Real estate investment has increased double digits in the first nine months of 2019.

 

Hong Kong unrest sees interest in Thai condo market rise

 

Several investors from Hong Kong seek safer economies to invest and have turned to Thailand. Unlike Chinese buyers willing to purchase condos away from central business districts, investors from Hong Kong aim to purchase closer to city centres due to the ease of travel for foreigners.

 

A Single Car Parking Spot Just Sold in Hong Kong for Almost a Million Dollars

 

A parking spot in Hong Kong’s financial district sold for CAD$1.269 million, or $9,434 per square foot. That is approximately 37 per cent higher than the average price of all properties in the GTA as of last month.

 

Australia's house prices boom, lifting $20,000 in three months

 

The Australian median house price increased 2.7 pre cent in the past three months marking an increase of $20,000 in that period. As a local market, prices in Sydney spoked nearly $50,000 in the same timeframe. Despite property value appreciation, the national index remains 6.8 per cent below the October 2017 peak.


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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