Real Estate News Headlines (December 7th 2016) - Jethro SeymourJethro Seymour – Top Midtown Toronto (Davisville Village ,Leaside) Real Estate Agent
Your search results

Real Estate News Headlines (December 7th 2016)

Posted by seymour on December 7, 2016
| 0

Hello everyone. I provide you with Canada’s news headlines for real estate news for today.

Foreign investors continue to gobble up Canadian commercial real estate: report

According to Financial Post,

Investment in Canadian commercial real estate in the third quarter reached almost $11.2 billion, setting a record for any 90-day period and marking the second consecutive quarter for a new high, according to a report out Monday.

CBRE Canada said foreign capital continues to be a driver of the market with $3 billion coming in from abroad to buy commercial property in the third quarter — 90 per cent of the amount directed at hotels.

The detail is here.

‘Why pay more for the same thing?’: Vancouver tax pushes Chinese buyers to $1 million Seattle homes

According to Financial Post,

Just a few days after Vancouver announced a tax on foreign property investors, Seattle real estate broker Lili Shang received a WeChat message from a wealthy Chinese businessman who wanted to sell a home in Canada and buy in her area.

After a week of showings, he purchased a US$1 million property in Bellevue, across Lake Washington from Seattle. He soon returned to buy two more, including a US$2.2 million house in Clyde Hill paid for with a single cashier’s check.

Shang says she’s been inundated with similar requests from China and Hong Kong after Vancouver’s provincial government enacted a 15 percent tax on foreign home buyers in August to help cool soaring real estate values. With Chinese investors — the largest pool of foreign capital — looking for a place to put their cash, the unintended consequence of the fee has been to push demand to cities such as Seattle and Toronto.

“The tax was the trigger of this new wave of investment now coming to Seattle,” Shang said. “Why pay more for the same thing?”

The detail is here.


Midtown Toronto Neighborhood News

Here are the local neighborhood news:

Jethro Seymour, Toronto Midtown Real Estate Broker

 


Also published on Medium.

  • Testimonials

    230 KING STREET EAST, SUITE 1105 DOWNTOWN TORONTO, one of the Top Davisville Real Estate Brokers
    St. Lawrence Market Condo Sold by Top Broker Jethro Seymour
    Our Downtown Toronto condo sold within one week!

    "Having been interested in selling our condo for a while, we went to an open house in our building and had the pleasure of meeting Jethro. We found him to be very professional, well established and knowledgeable. When we were ready to purchase a new condo he worked very hard to find us the perfect home and was truly proactive and results oriented.

    We scooped up a new listing within hours of it hitting the market thanks to his keen eye and understanding of our needs. When we were ready to..."

    More Testimonials
  • Neighbourhood Information

    Sherwood Park

     Sherwood Park: A Quiet Oasis in the Heart of Toronto Hello everyone, please go to SeymourRealEstate.ca for my Latest Listing! Located in ...
    Read More
  • Community Corner

    Seymour Contests: January 2017 Spa Giveaway

    Happy January, everyone! Last month’s lucky winner, Cathy Philips, won herself a $80 gift certificate to McSorley’s on Bayview. Congratulations! Thank ...
    Read More