“Greater Montréal is definitely a great place to live.” That’s from a website promoting Canada’s second largest metropolis to foreign investors. Greater Montréal. The local businesses and political groups behind the site are marketing not just the city of Montréal itself or any one of its affluent suburbs, but the entire urban region. In French, it’s Grand Montréal.
Canadians are invading Manhattan, thanks in large part to the Caisse de dépôt et placement du Québec. The country’s largest real estate investors have bought a record $3.85 billion in property this year in the New York city borough and spent more than any other foreign country in the last decade, according to data from Real Capital Analytics Inc.
I am under the assumption that any business can be subject to fraud, and condominiums are no exception. Being a brand new condo corporation, the board would like to ensure that we are prepared. How can we prevent fraud in our condo corporation and what action can we take if we do suspect any wrongdoing?
Mark James Ryan and Martina Hoft exhibiting at the International Ploughing Match in Ontario near the Quebec border. The event ran from September 22nd to 26th and attracted about 100,000 visitors! The Queen of the Furrow honored our booth.
Data indicating how much of Canada’s real estate is being snatched up by foreign buyers is scant, but the country’s national housing agency is working to change that.
Almost 2,000 people have signed an online petition calling for the mayor of Montreal and the borough mayor of Pierrefonds-Roxboro to reconsider a planned 5,000-house development near the Anse-à-l’Orme eco-territory in Pierrefonds West.
Rising property prices have pushed home ownership out of reach of many people, especially those starting out. And it’s not any easier for renters, who pay inflated costs based on a property’s rising value. Last week, The Globe and Mail reported on a study that showed one in five Canadian renters face an affordable housing crisis and are spending more than half of their income to keep a roof over their heads. Globe readers were quick to chime in with their own thoughts. The following are some highlights.
Many residents told CBC News that their sinking homes are causing all kinds of financial and family problems.
How about a nice boat ride to work in downtown Montreal? If the Société de transport de Montréal gets its wish, you might soon be able to hop on a ferry in Pointe-aux-Trembles and head downtown, according to reports.
Some of Canada's biggest banks are defending their verification practices for mortgage applications in light of recent news that mortgage lender Home Capital Group Inc. cut ties with dozens of brokers over fraud allegations.
A bi-weekly schedule beats a monthly one in terms of shortening the term of a home mortgage. Weekly payments, however, make little difference.
There is one rule to remember in commercial real estate whether you are a buyer and holder, or someone who makes money on the management side: financial value is judged on what can be made going forward, not what it was in the past.
You used to be able to afford both a house and a comfortable retirement in this country. It’s getting a lot tougher to do this today, and the latest election promise from the federal Conservatives won’t help. They plan to raise the tax-free amount you can withdraw from your registered retirement savings plan to buy a first home to $35,000 from $25,000.
La Ville de Montréal veut interdire l'utilisation des poêles et foyers au bois non certifiés dès le 1er octobre 2018, afin de réduire la pollution de l'air. Le nouveau règlement sur les combustibles solides doit être adopté par le conseil municipal le 17 août prochain.
The Conservatives' pledge to spend $500,000 on collecting "comprehensive data on foreign buyer activity in Canada's housing market" has been met with a mixed reaction among Realtors. Many of whom are skeptical that such information will do anything to solve the problem of affordability in overheated real estate markets such as Vancouver and Toronto.
A syndicated mortgage is formed when a number of investors or individuals pool their funds to make a loan to the developer. Each investor in the syndicate is registered on the title of the property in accordance with the amount contributed to the syndicate.
Businesses around the globe have turned the spotlight on their philanthropic efforts, and with good reason. Corporate social responsibility has a direct correlation to consumer and employee satisfaction.
A report by RBC Economics says housing affordability continued to decline in Toronto and Vancouver. The bank also predicts that rate hikes from the central bank, which is expected to raise its trend-setting overnight interest rate next year, are likely to erode affordability.
If you have a mortgage coming due in the next six months, pick up. Banks can be intrusive with their client calls and telemarketing, but talking to them about an early renewal of your mortgage can save you a lot of money.
“The buyers are getting younger and younger,” said Miami real estate agent Danny Hertzberg. “The tech segment from California is very young. The financial segment from New York is young. But a lot of the international buyers are very young, too. We have people in their 20s, 30s and 40s driving the market.”