Trending This Week: Prince’s Former Toronto Home, Canada’s Best Real Estate, Affordable Housing

toronto real estate
Trending This Week: Prince's Former Toronto Home, Canada's Best Real Estate, Affordable Housing

toronto real estate

Toronto

Toronto condo market heats up as rent for bachelor hits $1,657 (Business News Network)

Condo rents in the Greater Toronto Area have gotten pricier as it becomes harder to find vacant units amid strong demand, according to new data from the Toronto Real Estate Board. The price surge was even greater for one-bedroom condo units as rents increased 11.4 per cent year-over-year in the first quarter to $1,995 per month, while the average two-bedroom condo rent rose 9.1 per cent over the same period to $2,653.

Prince’s Former Toronto Home Is For Sale And Is More Spectacular Than You Imagined (Toronto Storeys)

In a rare feature, Toronto Storeys received special permission to take you inside the music legend’s iconic former Bridle Path mansion.

Top neighbourhoods in GTA’s core 2018 (Money Sense)

Why real estate agents keep touting Mimico for value. With its large lots, attractive prices and easy access to four major highways, this Etobicoke neighbourhood was the top choice in the City of Toronto among realtors we surveyed.

Canada

The Canadian Government Used “Fake News” To Drive Real Estate Borrowing… Seriously (Better Dwelling)

Canadians have been addicted to debt for quite some time, especially when it comes to real estate. So why is the Government of Canada paying hundreds of thousands to discreetly distribute ghost-written articles on how to take out more debt?

How Chinese gangs are laundering drug money through Vancouver real estate (Global News)

Criminal syndicates that control chemical factories in China’s booming Guangdong province are shipping narcotics, including fentanyl, to Vancouver. They are also washing the drug sales in British Columbia’s casinos and high-priced real estate, and transferring laundered funds back to Chinese factories to repeat this deadly trade cycle, as reported by a Global News investigation.

The Best City To Buy Real Estate In Canada Is … Brantford? Here’s Why … (Toronto Storeys)

Brantford, Ontario is now the best city to buy real estate in Canada. How did this Southern Ontario city, more than 100 kilometres away from Toronto’s downtown core get awarded this distinction? (Added of course to its distinction of Telephone City, as it was here in 1874 where Alexander Graham Bell first conceived the idea for the telephone.)

US

Homes in U.S. Sold Faster than Ever in 2017 (World Property Journal)

Shrinking inventory limits options, leading to more competition. According to data from Zillow, home shoppers should be prepared to move quickly when they find a home they want, as homes sold at their fastest pace on record in 2017.

Clooneys stay at townhouse with history of building violations (Page Six)

The glamorous human-rights jurist Amal Clooney and hubby George Clooney are living in a Sullivan Street townhouse that has recently been hit with multiple violations for operating an illegal transient hotel.

No relief in sight: Housing affordability is weakening at the fastest pace in a quarter century (CNBC)

Rising home prices, rising mortgage rates and rising demand are colliding with a critical shortage of homes for sale. And all of that is slamming housing affordability.

International

China cracks the whip on Chinese developers of overseas real estate (Global Property Guide)

It’s now mandatory for offshore entities controlled by mainland Chinese companies to get government approval for overseas real estate investments. The new rules aim at checking “irrational” overseas investment by mainland Chinese companies.

Mega Cities of the Future Key Challenge: Cyber Risk (World Property Journal)

Smart cities initiatives are being implemented worldwide, with many high profile examples. India has announced its intention to transform 100 municipalities with its Smart Cities Mission and more than 500 cities in Mainland China have started their smart transformation, while Japan and South Korea have also boasted their smart city projects.

Arup unveils Europe’s first 3D-printed house (New Civil Engineer)

Europe’s first 3D-printed house has been unveiled in Italy.

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