The five- and 10-year averages for price growth in newer downtown Toronto condos is 15% and 8%, respectively. GTA-wide, the 10-year average is also 8%.
The Liberal administration will be extending its pandemic fiscal assistance program for small businesses to help beleaguered ventures cover September rent costs.
Initially slated to end back in June, the Canada Emergency Commercial Rent Assistance (CECRA) mandates governments to shoulder 50% of rent, while landlords and tenants cover 25% each.
Eligible businesses must have experienced a 70% revenue decline for April, May, and June, either on an annual basis or when compared to their January-February average. Businesses that qualified during the original period will still be eligible without the need to evaluate if the 70% revenue decline lasted beyond June, BNN Bloomberg reported.
“Our government recognizes that while small businesses’ needs are evolving, many still require support to face the challenges of the COVID-19 pandemic,” said Chrystia Freeland, deputy prime minister and finance minister. “That is why we are extending the rent relief provided through CECRA by an additional month, to ensure that Canadian businesses hit hardest by COVID-19 get support when they need it most.”
The federal government said that no further extensions are planned. Official records indicated that as of Sep. 7, more than 106,000 small businesses have participated in the program, with over $1.32 billion disbursed as rent assistance.
“This will be the final extension of this program as the government explores options to support small businesses as they face the ongoing challenges of the COVID-19 pandemic – including the challenges of fixed costs at a time when health concerns and precautions prevent many businesses from operating at full capacity,” the government said in a statement.
News of a fixed rate increase might inspire consumers driven by fear of being priced out of the market in Canada.
Even before COVID-19 moved us all to work from home, reevaluations of office space were already underway, but not nearly to the extent they are now.
This consultant and real estate investor said that a third of new construction properties built every year in Ontario have legitimate claims for reimbursement, but they aren't taken advantage of.
New condos going up on King St. E. and Berkeley St. by Lamb Development Corp will be 32-storeys and the new Ontario Line subway route station.
Condominium sales in the City of Toronto surged by 63.2% year-over-year in February to 2,167, according to the latest data from the Toronto Regional Real Estate Board.
According to GTA-based Seth Ferguson, CEO of Multifamily Real Estate Investments Inc., Texas has arguably the most propitious horizon in the Sun Belt.
In 2020 alone, this commercial real estate team did over $60 million in commercial sales in Toronto.
Craig Proctor, top Canadian real estate agent and coach, offers advice on how to dominate during these crazy real estate times. Join his Millionaire Agent-Maker SuperConference March 19-21.
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