In toronto real estate, most Toronto condominium projects do not begin construction until 70 per cent of units are sold, curbing the risk of speculation, CMHC said on Tuesday in a report that suggested overbuilding fears may be overdone. A prolonged Canadian housing market boom, particularly in the two major markets of Toronto and […]
Toronto Seller Posts
Beware Of The Principal Residence Exemption Pitfalls In Canada
In Toronto real estate, when a person sells her home, thanks to the Principal Residence Exemption, she isn’t usually taxed on capital gains. Similarly, if a principal residence is owned when a taxpayer dies, the residence will not attract a tax liability realized from the deemed disposition of assets. But, as Keith Masterman, LLB says, […]
Toronto existing homeowners may suffer ‘buyer gridlock’ and may not afford to move up
In toronto real estate, skyrocketing housing prices are now preventing even existing homeowners from being able to move-up into a new home. While much has been made of the plight of first-time homebuyers who have to contend with lack of affordability in both markets, TD Economics notes that higher prices are now locking out those […]
68 Balmoral Ave., Toronto – Summerhill area house sold attracting 3 pre-emptive offers
68 Balmoral Ave., Toronto ASKING PRICE $1,050,000 SELLING PRICE $1,225,000 PREVIOUS SELLING PRICE $465,000 (2001) TAXES $6,130 (2016) DAYS ON THE MARKET 3 The Action: This two-storey row house sits on the south side of St. Michael’s Cemetery on a 15-by-107-foot lot. The prime Summerhill location prompted three pre-emptive offers earlier this year […]
218 Queens Quay W., Toronto – large condo with Harbourfront location sold
218 Queens Quay W., No. 1602, Toronto ASKING PRICE $685,000 SELLING PRICE $730,000 TAXES $3,609 (2015) DAYS ON THE MARKET Three The Action: Last year, the Waterclub community had three 2-bedroom suites for sale simultaneously, so this upper-level version didn’t fare well for months sharing the spotlight. To give it a second […]