Renting
Renting
Canadian Rents Decline To 15-Month Low In November
Though rents remain well above historic levels, they are on the decline, with November posting a 1.6% drop in prices compared to last year.
Dec 10, 2024
Development Projects
Fitzrovia Proposes Luxurious 631-Unit Rental Development For St. Clair West
A 49-storey, 631-unit mixed-use development from Fitzrovia was recently proposed for St Clair Avenue and Avenue Road and it's chock-full of interesting features and amenities.
Construction
Purpose-Built Rental Starts “Nearly Quadrupled” In A Decade (And More Are On The Way)
Rental construction is having a “renaissance” in Canada, and we’re seeing that realized in starts, completions, and the uptake of multi-unit insurance products from CMHC.
Development Projects
Historic Industrial Building Redevelopment Proposed Near Bloor GO
The 27-, 24-, and 21-storey residential development from First Capital and Firm Capital would deliver 919 new dwelling units within steps of Bloor GO.
Tudor-Style North Saanich Estate In BC Hits Market For $2.4M
The beautiful home sits at 1345 Readings Drive in North Saanich, located on Vancouver Island in British Columbia.
Industry
“A Paradigm Shift”: In A Unique Real Estate Market, This Firm Is Ahead Of The Curve
Elysium Investments deviates from the hyper-competitive, “dog-eat-dog” nature of new development in favour of a strategy called “collective serendipity,” where sellers are treated like joint-venture partners.
Renting
‘Won’t Move The Needle Enough’: Toronto Approves Incentive Stream For Purpose-Built Rental
The program is called the Purpose-built Rental Homes Incentives Stream and, at a high level, it pairs qualifying projects with certain perks, including development charge deferrals and property tax reductions.
Renting
“A Rare Occurrence”: Average Canadian Rent Falls For First Time Since 2021
The national average was pulled down by steep annual rent declines observed in Toronto (-9%) and Vancouver (-8%) as renters flocked to more affordable markets.
Renting
Toronto Considering DC Deferrals, Property Tax Cuts For Purpose-Built Rentals
Toronto City Council is due to consider a new Purpose-Built Rental Homes Incentive on November 13.
Renting
Condo Rents Slide In GTHA As Completions Surge Over 130%
There were over 23,000 new condo units registered across the GTHA between January and September, and that figure represents a 132% increase over the same period last year.
Renting
Over 50% Of Screened Applications Fraudulent: Toronto Renters Grapple With “Financial Struggle”
Menkes' Kimberly Sears tells STOREYS that the company has screened “over 175 offers to lease” over a six-month course, and of those, “over 90 of them were disqualified due to discrepancies found during the screening process.”
Renting
Roommate Rental Listings Up Nearly 50% Across Major Canadian Markets
“Vancouver and Toronto […] have experienced a notable increase in condo units where owners are subletting spare bedrooms. Additionally, condo investors in these cities are listing individual bedrooms within larger units, thereby offering lower asking rents to attract prospective tenants.”
Renting
Canadian Rent Growth Slows To 3-Year Low As International Student Enrolments Plunge
Urbanation President Shaun Hildebrand notes that foreign student enrolments have dropped off “by roughly a half from their record highs,” and that the effects have been felt most in Ontario and BC.
Renting
Average 2-Bed Rent Could Hit $5,600/Month In Toronto By 2032
The outlook for Toronto rent growth represents an astounding 72% increase compared to 2023 and projects a 26% rent increase to $4,100 by 2027.
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