Three Real Estate Stories in the News for Saturday, October 7th 2017
Hello, everyone.
I provide you with Canada’s news headlines for real estate news for today.
Sales down but condo prices still on the rise in GTA
According to CBC News,
Overall home sales in September were down in the Greater Toronto Area over the same time last year but condo prices continue to rise, according to figures released Wednesday morning by the Toronto Real Estate Board (TREB).
Even though listings were up by 9.4 per cent compared to September 2016, sales were down by 35 per cent, the TREB report said.
The overall average price of homes in the GTA was $775,546 last month — up 2.6 per cent from the same time last year.
The detail is here.
Province OKs rent-to-own program that helps ‘avoid’ foreign buyers’ tax
According to CBC News,
The B.C. finance ministry has reviewed a developer’s rent-to-own scheme that promises to help homebuyers “avoid paying the 15-per-cent foreign buyers’ tax” and found it doesn’t violate any law.
The Vancouver Rent to Own program from Apex Western Homes offers potential buyers a lease agreement on a home, with the option to buy within five years. That gives foreign buyers time to secure permanent residency or a work permit in Canada.
The detail is here.
Montreal-area home sales hit 8-year high for September
According to CBC News,
The real estate market in Greater Montreal matched September’s heat wave with sales reaching an eight-year high for the month.
The Greater Montreal Real Estate Board says 2,893 residential sales were completed last month, a six per cent increase from a year ago.
Four of the area’s five metropolitan areas sustained growth, led by a 17-per-cent jump in sales in Laval, north of Montreal.
The detail is here.
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