Photo Credit: Toronto Travel Guide
All you need to know regarding the housing market in Toronto, Canada and abroad.
This week in Toronto: Realosophy's own John Pasalis comments on the Fall housing market heating up, the GTA leads on luxury homes and the LCBO is looking to sell.
Elsewhere: Worry for Canada's real estate bubble, Ukraine looks towards the United States and an interesting idea from England.
“We were swamped all summer with new buyers jumping into the market, looking early in preparation for the fall market,” says Pasalis. “I think it’s going to be busy. “There’s just way more people looking than there are houses available.”
GTA home buyers faced with moving up or out (The Star)
Moving up means embracing the concept of raising children in an apartment condominium. A two-bedroom unit in the downtown-west area will, on average, comprise 805 square feet and cost $489,000. And it’s only a 20-minute commute to Union Station using the TTC.
The GTA is expected to lead the country, outpacing even Vancouver, for high-end house and condo sales into early 2015, according to a new forecast from luxury realtor Sotheby’s International Realty Canada.