The Canadian federal government introduced new mortgage rules in the fall of 2016 to combat rapidly increasing home prices – but have they driven up condo prices instead? In October 2016, Canada’s Department of Finance introduced a significant change to the mortgage qualifying requirements for buyers with less than a 20% down payment (known as…
A recent poll found that half of Torontonians are hoping for house prices to fall, but a new report from Royal Bank of Canada basically says “don’t hold your breath.” The modest price gains seen in Toronto and Vancouver in August are a “sign of things to come,” RBC senior economist Robert Hogue wrote in…
Rental rates for condos in Mississauga continued their ever-upward trend in the third quarter of 2018. According to the Toronto Real Estate Board’s latest quarterly tracking report, the average monthly cost to lease a one-bedroom condo in Canada’s sixth largest city rose to $1,962 between July and September. The Toronto Real Estate Board doesn’t expect…
What happens when an owner receives an incorrect status certificate issued by a condominium corporation? That was the issue in a case before the Ontario Court of Appeal earlier this year. Back in 2013, Dante Reino purchased a condo unit from his mother in a downtown highrise on Bay St. known as Metropolitan Toronto Condominium…
1. You can’t drive impaired. Though the legalization of marijuana is new, impaired driving laws are not. It has always been illegal to drive a motor vehicle while your ability to do so is impaired — whether that’s by alcohol, pot or any other drug, prescription or otherwise. Peel police officers will perform a Standardized…
It would be easy to mistake the lobby of the One o One condos in midtown Toronto for a nightclub or graffiti-splashed alley. Instead of the muted colours and cookie-cutter designs that fill many condo buildings, developer Camrost Felcorp hired Toronto artist Anthony Ricciardi to create seven murals splattered with bright paint and a rainbow…
With the legalization of marijuana next month, landlords, tenants and condominium owners may still be uncertain about their rights to either smoke — or prohibit smoking — in apartments and condominiums. The starting point of a discussion about the rights of smokers and non-smokers begins with the principle that there is no right enshrined in…
The City of Mississauga’s Economic Development Office has been named one of 10 local and regional groups representing Canada’s Best Locations by Site Selection magazine. The rankings are based on project data, regional partnership, proactive and innovative programming, quality data and web tools and resources. “This recognition is proof that Mississauga’s economy is thriving and…
Earlier today, Mississauga Mayor Bonnie Crombie joined GlaxoSmithKline (GSK) Canada to make a $36 million announcement to further strengthen the company’s manufacturing facility in Mississauga. The funds will enable facility improvements, equipment purchases and enhanced manufacturing capabilities. GSK’s Mississauga facility will also soon begin producing Voltaren®, a consumer health brand in Canada for pain relief.…
August appears to have cemented the Toronto region’s real estate recovery, with average resale home prices up 4.7 per cent year over year to $765,270, including single-family homes and highrise apartments. That is about $34,000 higher than the average a year ago. There were also about 500 more transactions — an 8.5 per cent increase…