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Luxury Homes in Toronto Still Sought-After

January 25th, 2019
Luxury home sales have often been a good indicator of the state of the global economy. Foreign investors often hold real estate throughout the world, so a major shake-up to the global economy would have a definite impact on luxury home sales in Toronto.

So how does Toronto fare?

First, let’s clarify something. The term “luxury” as it applies to home prices is different depending on location. In ...

How Cannabis Legalization Can Affect Real Estate

January 17th, 2019
On October 17, 2018, the Cannabis Act came into force in Canada. Cannabis is now legal for both recreational and medicinal use (though medical use was legalized back in 2001). The rules for usage is quite similar to alcohol, though many have expressed concern about how cannabis can affect Toronto & GTA real estate. For individuals moving to Toronto or relocating to Toronto from outside Canada ...

Mortgages Rates Remain Low Heading into 2019

January 11th, 2019
One of the many factors that impact real estate in Toronto is mortgages. For 2019, banking experts are suggesting that “there will be flat to low-single digit mortgage growth this year”, as indicated by CIBC’s CEO Victor Dodig. The Bank of Canada is expected to hold its key interest rate at 1.75%, regardless of the recent hikes by the central bank.

Looking at interest rates in greater detail, ...

2019 Trends Forecast - Toronto

January 7th, 2019
As we welcome 2019, the team at MAC Real Estate Services Inc., Brokerage can’t help but reflect on 2018 and how incredibly different the year was in terms of real estate in Toronto and the Greater Toronto Area (GTA). 2018 saw condominium units continue to dominate. The average price of a condo in the GTA was up 9.91% to $554,497. Compare that to the average price of a GTA detached home, which ...