Real Estate

This is what condo developers think condos will be worth in Toronto in 2025 (Price list pictures inside)

  • Last Updated:
  • Apr 2nd, 2019 4:22 pm
Deal Addict
Dec 4, 2016
1851 posts
880 upvotes
BiegeToyota wrote: Montreal has a lot going for it, certainly some of the best festivals and night life not just in Canada, but North America. 2 really big and respected (and cheap) English universities.

I don't know if things have changed, but Montrealers generally consider their birthright to rent $500 1 bedroom apartments.

Selling "used" real estate is somewhat of a challenge.
Vancouverites used to consider it their birthright to rent or own a detached in East Vancouver if they hold down a job that pays more than minimum wage.
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Dec 13, 2016
3486 posts
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DealCanuck wrote: I’d be willing to put money that Montreal would be the next Toronto as more and more tech companies go there
Nope. Companies don't want to deal with Quebec and their backward language laws.

Just read all the whine in hot deals when the offer is not available in Quebec.
Deal Fanatic
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Aug 27, 2014
5822 posts
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Canuckland
BiegeToyota wrote: Nope. Companies don't want to deal with Quebec and their backward language laws.

Just read all the whine in hot deals when the offer is not available in Quebec.
It’s mostly a facade to satisfy the QC government .

I got friends on the industry that say they require French but everyone speaks and writes in English and hire non French speaking regardless
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Nov 5, 2018
1453 posts
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Toronto
All of these new developments are outrageously priced with assumptions of Toronto real estate prices going up 6-8% a year. If that doesn't unfold over the next few years, we may see some fire sales for assignments. Could be a good opportunity for guys holding some cash in a few years time! Smiling Face With Sunglasses
I do not need approval, I do not need friends. I do what I want.
Newbie
Aug 9, 2018
58 posts
33 upvotes
DealCanuck wrote: It’s mostly a facade to satisfy the QC government .

I got friends on the industry that say they require French but everyone speaks and writes in English and hire non French speaking regardless
I wouldn't say "mostly" a facade, but certainly "partially" a facade, in that lots of businesses/employers are non compliant to some degree. Enforcement is generally strict on anything public, and contract documents, but much more lax within a working environment, especially for tech companies.

And now that Ontario's latest rent controls are just as limiting as Quebec's, it makes sense that investors would compare the 2. RE is looking to be very strong early 2019, but as usual, time will tell.
Member
Jul 25, 2008
400 posts
274 upvotes
ottawa
RockstarLeo wrote: I wouldn't say "mostly" a facade, but certainly "partially" a facade, in that lots of businesses/employers are non compliant to some degree. Enforcement is generally strict on anything public, and contract documents, but much more lax within a working environment, especially for tech companies.

And now that Ontario's latest rent controls are just as limiting as Quebec's, it makes sense that investors would compare the 2. RE is looking to be very strong early 2019, but as usual, time will tell.
Quebec actually has a nice bonus for investors - if you send a renewal notice (3 months before term end I think) with an increase and 1-yr term, and the renter doesn't respond, they're on the hook for an automatically renewing 1-yr term. Every year the McGill ghetto has a bunch of disorganized students who think they're moving out but find out they've committed to another year already. It helps keep vacancy risk pretty low as you get plenty of time to plan.

There's a downside on the reverse though - the tenant can sublet your property by default and again, all they have to do is send you a notice. You have a limited time period to object to the proposed sublessee and must have a good reason. This is reviewed by the LTB/regie du lodgement.

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