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Tuesday, July 31, 2012
Thursday, July 26, 2012
Toronto's condo boom won't burst housing bubble: RBC Read more: http://toronto.ctvnews.ca/toronto-s-condo-boom-won-t-burst-housing-bubble-rbc-1.891554#ixzz21kqYaZw9
TORONTO -- A new report wants to burst the idea of a Toronto housing bubble.
Yes, condo sales and construction are booming, but the Royal Bank of Canada report says there is no housing bubble because the city's number of new housing units is in line with demographic needs.
The Greater Toronto Area sees an influx of close to 100,000 people each year.
That translated to approximately 38,000 new households per year from 2006 to 2011, according to RBC and Statistics Canada data in the report.
One constraint to urban development is the Ontario government's plan to handle growth and development in the Greater Golden Horseshoe, which is known as "Places to Grow" and seeks to curb urban sprawl.
Faced with the task of accommodating the 38,000 new households, new housing in Toronto has nowhere to grow but up.
May 2012 saw a record 44,100 condos and apartments under construction, as well as 6,200 multiple units, which are detached and row houses.
The report's findings also aim to quell fears that scores of empty condominiums are piling up.
"Concerns that large numbers of newly built condo units are sitting empty are simply not supported by the statistics," the report, released Tuesday, says.
The report says approximately 7.5 per cent of the condo units completed in the previous 12 months are unoccupied, and estimates that unoccupied units represent close to 0.2 per cent of the stock of multiple units. Both figures are less than numbers from the 1980s when Toronto saw a housing bubble burst.
While investors represent a large share of condo buyers, concerns about property "flipping" might be overblown, the report adds.
Canada Mortgage and Housing Corporation reported last fall that only 10 to 15 per cent of new condos are listed for sale within 12 months of registration.
Tuesday's report says the majority of condo investment properties are actually helping to fill a gap in the rental market.
"The biggest risk that we see for the coming years is a possible mismatch between the types of condo units bought by investors and the types ultimately demanded for occupancy," says the report.
A mismatch could occur with a greater emphasis on small, single-unit apartments when currently about three-quarters of rental demand is for high-rise multi-family units.
However, the report is quick to dismiss these concerns, pointing to the demand for rental units.
The report suggests that recent changes that tightened mortgage rules will push more people into the rental market.
As of last month, the maximum amortization period dropped from 30 to 25 years for government-insured mortgages, and the refinancing limit was capped at 80 per cent down from its previous 85 per cent.
The report notes that while the city saw an 18 per cent increase in condo rental units, the rental vacancy rate dropped to 1.1 per cent last year.
Read more: http://toronto.ctvnews.ca/toronto-s-condo-boom-won-t-burst-housing-bubble-rbc-1.891554#ixzz21kqf7CY1
Sunday, July 15, 2012
2208 - 335 Webb Drive condo for lease
Condo for lease in Sq1 Mississauga
2208 - 335 Webb Drive Mississauga
Large condo for lease
Two Bedrooms
Two Washrooms
Den
$1650 + hydro
Cable, Water, Gas, Central Air Condition, Parking and Locker are included
Saturday, June 30, 2012
For Sale
3076 Mission Hill Drive
Mississauga
$699,900
| Beautiful 'Remington Homes' Built 4 Bedroom Executive Detached House.Prime Location In Popular Mississauga's Churchill Meadows Neighbourhood.True Eye Catcher With Thousands Of Dollars In Upgrades.Situated On Premium Pie Shaped Lot.This House Has Professionally Finished Basement With Fourth Bathroom.Many Upgrades Include Kitchen Cupboards And Trim,Premium Hardwood Flooring,Oak Stairs,Pot Lighting,California Shutters,Upgraded Electrical Fixtures Through Out | |||
| Extras: The House,Aggregate Concrete Leading From The Front Yard All The Way To The House Backyard,Premium Appliances,Updated Front Door,9 Foot Ceilings.This House Is 'Smart Wired' For Internet,Cable,Phone.Schools And Shopping Centre Nearby. |
Additional photos at MyHomeSpace.ca and MyCondoSpace.ca
Tuesday, June 26, 2012
Wide suites two bedroom condominium for sale
$369,900
Beautiful condominium in unique Wide suites condominium in
SQ1. Over 900 sq.ft of living space with large balcony. Superb layout with
large eat-in kitchen with breakfast area. Many upgrades. Two large bedrooms.
Master bedroom has en-suite bathroom and walking closet. This
condominium is on high floor with view of Mississauga SQ1.
The Widesuites lifestyle has got something for everybody,
with an entire floor of indoor amenities and 2 rooftop terraces. You can work
out in the WSpa, sharpen your skills in the billiards room, catch the big game
on the big screen in the theatre, or snuggle up with a good book in the library
lounge. There’s also a party room and a conference room for get-togethers. The
best place for any social gathering at Widesuites is on the 6th floor roof
deck. This oasis is a true haven above the city. It will feature a glittering
indoor pool, lush landscaping, and barbecues for the ultimate pool party. For a
more intimate setting, just travel up to the WSkylounge for an awe-inspiring
look at the city and beyond.For more info please contact me directly at 416-399-7555 or visit myhomespace.ca or mycondospace.ca
Friday, June 15, 2012
An artist's rendering of the Absolute Towers, a residential condo project in Mississauga. The towers have been named the Best Tall Buildings in the Americas by a Chicago-based group.
SUPPLIED PHOTO
A pair of voluptuous Mississauga condo towers is now in league with Hollywood’s most famous blonde — as well as the world’s best new skyscrapers.
The Absolute Towers, the first nicknamed the “Marilyn Monroe,” were awarded the prize of Best Tall Buildings in the Americas on Wednesday.
The Chicago-based Council on Tall Buildings and Urban Habitat, a non-profit group of architects and engineers, awarded the title.
Other winners included a Sydney skyscraper with a sunlit, roof-top atrium, a 40-storey “piazza” in Italy, and a tower in Abu Dhabi with a façade that rotates with the movement of the sun.
The two Mississauga buildings, 50 storeys and 56 storeys each, are part of a five-building development off Hurontario St. and Burnhamthorpe Rd.
Their undulating shape is the design of young Beijing-based architect, Ma Yansong, and his firm, MAD Architects. Ma entered an international design competition hosted by the tower’s developers Fernbrook Homes and Cityzen, and was awarded the project in 2006.
In Toronto, Burka Architects designed the interiors alongside engineering firm Sigmund Soudak & Associates.
The building represented constant challenges. In most towers, all but two of the floors are exactly the same, said engineer Yury Gelman. In this building, none of them were.
For Gelman, this created the most challenging project of his almost 40-year career – and one of the most exciting.
“I remember when it started, I couldn’t sleep, because I was afraid we wouldn’t get it,” he said. “And then we got it, I couldn’t sleep, because I was wondering how we would solve these structural problems.”
But he knew from the beginning that they would be “extraordinary.”
The buildings are expected to be fully built by August. Only the penthouses and executive suites still need to be finished, said Stacey Stewart, a high-rise sales representative with Fernbrook. Most of the residents have already moved in.
The shape has translated to attention, and buyers, from home and abroad.
“We get people commenting all the time,” said Stewart.
Buyers have come from around the world, particularly Dubai. They have a taste for eye-catching high-rises, she says, and they “appreciate” the building’s style.
Such a high profile may seem surprising for a suburban condo project, but Kevin Brass, public affairs manager for the Council, says the towers are in step with global trends.
“There’s been a more fundamental shift,” he said. “In the past, towers were almost universally office towers, and they were icons for companies.”
In 2000, 85 of the 100 tallest buildings were offices, he said. In 2012, the number expected to drop to 41.
In place of cubicles, high-rises host homes and hotels. They’re expected to be functional, not just fancy, he said, and there’s an emphasis on efficiency and quality of life.
Brass said the tower’s address is also part of a regional shift. While skyscrapers are surging in numbers in Asia and the Middle East, in North America, the building boom has slowed.
Instead of big urban centres, new towers tend to be in younger, smaller cities like Mississauga, he said. These building can gives a city a sense of identity while packing a visual punch.
As a result, the jury tries to be “location agnostic”, considering the best work, no matter where it’s from.
“Nobody was making Mississauga jokes,” he said with a laugh.
But the movie-star comparisons certainly don’t hurt. And Yury Gelman, the structural engineer who worked on the buildings, says they’re well deserved.
“It is Marilyn Monroe,” he said, his voice inflected with pride. “It looks like her.”
source:http://www.thestar.com
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