Friday, May 25, 2018

Exciting Upcoming Release, “Sugar Wharf Condominiums” by Menkes



Did you know…
TORONTO’S INDOOR PATH PEDESTRIAN SYSTEM IS THE WORLD’S LARGEST UNDERGROUND SHOPPING COMPLEX.

DOWNTOWN WATERFRONT WILL SOON BE HOME TO NEW APPROACHES, TECHNOLOGY AND INNOVATIVE SOLUTIONS.

SUGAR WHARF WILL BE PATH-CONNECTED AND THE LARGEST MIXED-USE DEVELOPMENT ON THE TORONTO WATERFRONT.

Contact me today (direct: 416-875-0561) for details including floor plans and an updated price list!





PATH AT GLANCE

1,200 SHOPS AND SERVICES
200,000 COMMUTERS DAILY
30 KM PEDESTRIAN NETWORK
6 SUBWAY STATIONS CONNECTED


BY FOOT
CIBC SQUARE: 7 MINUTES
UNION STATION: 9 MINUTES
AIR CANADA CENTRE:
13 MINUTES
HARBOURFRONT CENTRE:
15 MINUTES



Bitter winds and harsh climates are an inescapable fact of Canadian living. And when the cold is a predominate part of life, connectivity becomes a much sought-after luxury. Perhaps more than ever before, people are looking to invest in communities where everything they need comes with convenience – sans slush and cutting wind. Enter Toronto’s indoor PATH pedestrian system – the world’s largest underground shopping complex. On cold winter days you can walk to work, do your banking, visit the doctor and even see a movie without ever having to set one foot outside.

This 30-kilometre network, rivaling West Edmonton Mall in size, includes 1,200 shops and services, restaurants, and endless entertainment; the epitome of convenient urban living. The PATH is truly the heart of Toronto’s financial and entertainment districts, with connections to 80 buildings, 6 downtown subway stations, 9 hotels and tourist destinations like the Air Canada Centre, Metro Toronto Convention Centre, Toronto Eaton Centre shopping centre, and CN Tower.

As Toronto continues to thrive, its global appeal is helping it attract more than 100,000 new residents per year, and many of these people want to work and live downtown. Given this rapid growth, it’s no wonder that the world’s largest underground city is about to get even bigger as well. As part of the new Sugar Wharf community by Menkes, the PATH network is set to expand east of Yonge Street, into the downtown waterfront’s South Innovation District.

Menkes is reimagining Toronto’s Downtown Waterfront with Sugar Wharf Condominiums, part of an 11.5-acre community that will include luxury residences, offices, restaurants and shops, a two-acre park, and new school. Once complete, Sugar Wharf will be the largest mixed-use development on the Toronto Waterfront; home to 7,500 residents and 4,000 office workers.

The comprehensive project aims to seamlessly connect residents and office workers to all parts of the downtown core through the PATH, adding to the 5,000 people who already work in the PATH and over 200,000 commuters that pass through it daily. The PATH also provides access to Union Station, the largest transit hub in the Greater Toronto Area, with connections to the TTC subway, GO Train, Via Rail, and the UP (Union Pearson) Express. Residents living at Sugar Wharf on the PATH will be able to take advantage of the UP Express to travel to Pearson International Airport in a quick 25-minute ride. Traveling to your dream tropical destination during the winter months will be easier than ever before. Imagine being able to wear shorts and a t-shirt from home right up until the moment you board your flight without ever putting on your 10-pound winter jacket!

With Sugar Wharf’s PATH extension, it will be possible to walk indoors from the waterfront, all the way to Toronto’s world class Financial District. Equally connected to the city as it is to nature, Sugar Wharf will revolutionize how Torontonians live, work and play.


REFERENCE: MENKES ADVERTORIAL MAY 18 2018

Tuesday, May 15, 2018

■This Month in Real Estate | MAY 2018


■Condo & Rental Market Report | Q1 2018


Condo Market Report
Strong Price Growth Continues in Condo Segment

April 16, 2018 -- Toronto Real Estate Board President Tim Syrianos announced that the average selling price for condominium apartments sold through TREB's MLS® System was up by nine per cent year-over-year to $533,447 in the first quarter of 2018.

While the number of condominium apartment sales reported by Greater Toronto Area REALTORS® in the first quarter was down by 29.7 per cent year-over-year to 5,084, so too were the number of new listings, which were down by 11.1 per cent annually to 8,030.

"Seller's market conditions for condominium apartments remained firmly in place in the first quarter of 2018. Strong competition between buyers underpinned price growth well above the rate of inflation. We expect the condo market segment to remain strong through the remainder of 2018 and over the longer term, as buyers continue to see ownership housing as a quality long-term investment," said Mr. Syrianos.

Inventory levels for condominium apartments in the first quarter of 2018 were above the record lows experienced during the first three months of 2017. However, with months of inventory continuing to trend between 1.5 and 2.0 months, market conditions remain very tight from a historic perspective.
"The condominium apartment market segment continues to have the lowest price point on average compared to other major low-rise home types. It stands to reason that condos remain popular with first-time buyers. Strong demand relative to supply will see this segment perform well from a pricing standpoint for the remainder of 2018 and beyond," said Jason Mercer, TREB's Director of Market Analysis.


Rental Market Report
Above-Inflation Rent Increases Continue in Q1 2018

April 16, 2018 – Toronto Real Estate Board President Tim Syrianos announced that average rents for one-bedroom and two-bedroom condominium apartment rental units were up well above the rate of inflation on a year-over-year basis in the first quarter of 2018. The average rent for one-bedroom condominium apartments in the TREB market area was up 11.4 per cent on an annual basis to $1,995. The average two-bedroom condominium apartment rent was up by 9.1 per cent over the same time period to $2,653. “The GTA continues to be one of the most desirable locations to live in the world and will remain so over the long term. As people have moved to the region to take advantage of quality employment opportunities, rental demand has remained strong. The result has been heightened competition between renters, in an ultra-low vacancy environment, and double-digit rent growth in some market segments,” said Mr. Syrianos. The number of condominium apartments listed during the first quarter was down 11.8 per cent compared to Q1 2017. The total number of units leased was down 7.5 per cent. With a vacancy rate hovering at one percent for condominium apartments, there has been less supply available to would-be renters, which has resulted in fewer lease agreements being signed. “The low-vacancy, high rent growth situation that has unfolded in the GTA over the past year will be further exacerbated by the rent control provisions contained in the Fair Housing Plan. Some investors who, previously would have considered investing in rental units may now look elsewhere for returns on their money. This does not bode well for a sustained increase in rental supply over the long term,” said Jason Mercer, TREB’s Director of Market Analysis.

■Market Watch | May, 2018


GTA REALTORS® Release April Stats

May 3, 2018 -- Toronto Real Estate Board President Tim Syrianos announced that Greater Toronto Area REALTORS® reported 7,792 sales through TREB's MLS® System in April 2018. The average selling price was $804,584. On a year-over-year basis, sales were down by 32.1 per cent and the average selling price was down by 12.4 per cent.

The year-over-year change in the overall average selling price has been impacted by both changes in market conditions as well as changes in the type and price point of homes being purchased. This is especially clear at the higher end of the market. Detached home sales for $2 million or more accounted for 5.5 per cent of total detached sales in April 2018, versus 10 per cent in April 2017. The MLS® Home Price Index strips out the impact of changes in the mix of home sales from one year to the next. This is why the MLS® HPI Composite Benchmark was down by only 5.2 per cent year-over-year versus 12.4 per cent for the average price.

"While average selling prices have not climbed back to last year's record peak, April's price level represents a substantial gain over the past decade. Recent polling conducted for TREB by Ipsos tells us that the great majority of buyers are purchasing a home within which to live. This means these buyers are treating home ownership as a long-term investment. A strong and diverse labour market and continued population growth based on immigration should continue to underpin long-term home price appreciation," said Mr. Syrianos.

"The comparison of this year's sales and price figures to last year's record peak masks the fact that market conditions should support moderate increases in home prices as we move through the second half of the year, particularly for condominium apartments and higher density low-rise home types. Once we are past the current policy-based volatility, home owners should expect to see the resumption of a moderate and sustained pace of price growth in line with a strong local economy and steady population growth," said Jason Mercer, TREB's Director of Market Analysis.