Hottest and most noteworthy condo projects in the GTA for 2010

Toronto boasts more high-rise construction than any city in North America and 2010 was a big year for new GTA condos. In the words of Heath Ledger's Joker, "I wanted to see what you'd do. And you didn't disappoint."

Throughout the year we saw dozens of condo launches, relaunches and a few outright condo failures. Looking back, we can say some of these projects stood out from the crowd. They may have had more hype, purchaser interest, noteworthy design, online interest or something else that caught our attention.

And so, without further ado, below are the hottest condos in the GTA in 2010 according to our analytics and our own opinions. Due to the fact that the list is both objective and subjective, the list is in no particular order.

 

Check them out below:

 

Number One Bloor

Was there any project with more hype than the launch of Great Gulf’s Number One Bloor on the site of the failed One Bloor? We don’t think so. With construction potentially starting in March, we are sure that One Bloor will surely be in the headlines again in the new year.

 

 

12 Degrees

This is one of BuzzBuzzHome’s favourites. Not only are the renderings below awesome and powerful, but the building is unique in that it is trying to offer more larger three-bedroom suites in the downtown core for families, something that would be a welcome lifestyle change to downtown condos.

 

 

Five Condos

With its sleek design and cool location, this project caught the attention of BuzzBuzzHome. But, more than just the looks appeal to us, we especially love how this project will transform Yonge Street.

 

 

Twenty One Clairtrell

This project has been trending on BuzzBuzzHome all year. People love it! We love it.

 

 

Downtown

Every now and again an idea comes along where you think to yourself, 'why didn't I think of that?!'

 

Downtown by Parallax Investment Corp. is bringing such an idea to the Toronto condo market, and it's called Flexinatur.

 

Flexinatur's tagline is 'Any Style of Living. Any stage of Life'. In a nutshell, you can buy multiple units next to each other, rent them out, then in a few years transform all the units into one large luxury suite. Love it! Brilliant.

 

 

DNA3

Coolest sales centre ever, and unique marketing campaign! Also, a wicked looking building that people are loving!

 

 

Bisha Hotel and Residences

When we first walked into the Bisha Hotel and Residences sales centre and were bathed in a dark glow resonating from the slick black and gold trimmed walls we knew we were in for a treat!

 

BISHA is positioning itself as the most luxurious place to live in Toronto and from what we saw last week it's hard to argue against.

 

The brain child of Lifetime Developments Principal Mel Pearl and CEO of INK Entertainment Charles Khabouth, Bisha was conceived through the shared belief that Toronto was missing something that a city of it's size and standing deserved - a luxury property that has a bit of a kick, an edge, and a lifestyle to it.

 

 

Studio on Richmond

Just check out the rendering below. Need we say more???

 

The Yorkville Condominiums

Not much is known about this project yet, but the rendering is slick and people are loving it.

 

I am thinking sell-out the first weekend the launch to the public.

 

 

Backstage on the Esplanade

Coolest online campaign, ever! First they had the “Name Our Condo” contest, where people were given the opportunity to literally name the condo, now they have a “virtual broker” program going on… what is next? Who knows, but there are a lot of prizes to be had, and an other cool rendering to check out!

 

 

Theatre Park

We don’t really have anything to say about this project, but it sure got a lot of hype going on!

Posted via email from Sunny Batra's Blog

The top tech trends to watch for in 2011

The top tech trends to watch for in 2011

Pre-New Year projections are nothing new in the tech world. As we get set to welcome in 2011, however, it’s becoming increasingly clear that the year ahead will offer more than its fair share of geek-infused excitement.

2010 was the year when Apple’s iPad finally broke the industry’s 15-year tablet computer hex, 3D television came to the big box store, and WikiLeaks underscored just how vulnerable we’ve become to relatively simple security threats. The new year promises to build on the past 12 months with a wave of better tablets, better security offerings, and an ever-accelerating stream of increasingly interconnected devices and services.

Pull out your crystal ball as we look ahead at the following trends:

Tablets

For now, Apple’s iPad has the tablet market largely to itself, but that will change dramatically early in the new year. New devices powered by Google’s Android operating system are already hitting store shelves — Samsung’s Galaxy Tab is a strong early contender for iPad-alternative status — and RIM’s PlayBook is showing promise in advance of its anticipated release in the first quarter of the year.

“I’m pretty sure 2011 will be the year of the tablets,” says Chris Brozenick, vice president and general manager of WeatherBug Mobile, a mobile app development company. “We’ve already seen it start to take off. There’s no question these are transformational devices and they’re already causing a shift in people’s habits.”

3D TV

Last year’s blockbuster film, Avatar, whetted consumers’ appetite for three-dimensional content just in time for the first 3D flat-screens from major manufacturers to hit store shelves. But the majority of these first-generation televisions required users to don finicky and expensive glasses. And don’t even think about carting your glasses to your friend’s house, because the lack of industry standards means most of them won’t work with televisions from other manufacturers.

“This isn’t just inconvenient,” says Dave Evans, chief technologist with Cisco’s Internet Business Solutions Group (IBSG), “it precludes being able to experience 3D outside the home, like at the mall or at a car dealership. It’s a burden in many ways that today’s screens require glasses because it’s another thing you’ve got to carry around, another device you’ve got to worry about.”

Evans says new 3D TVs that don’t require glasses will allow the technology to become much more pervasive and easy-to-use in 2011.

Pico projectors

Everyone’s familiar with the overhead projectors that drive yawn-inducing PowerPoint presentations everywhere. Shrunken versions of those devices, typically the size of a deck of cards and known as pico projectors, have been available for the past couple of years, but their relatively high price has relegated them to the realm of senior executive plaything. As the technology shrinks in both size and cost, the ability to project information normally displayed onto a screen will be increasingly built into smartphones and other pocket devices.

“Today we use pico projectors as stand-alone devices,” says Evans. “But in 2011, they’ll become pervasive. Consumers will very quickly get used to them, as they’ll allow video and photos to be displayed anyplace, anytime.”

Augmented reality

Imagine holding a smartphone or tablet up in front of you and using the camera to record the scene. Augmented reality adds layers of detailed information about what you’re seeing, in real-time. So if you’re walking past the CN Tower, for example, an augmented reality application would display stats on the structure, and include details on how you could purchase tickets to the top and make lunch reservations once you’re there.

Camera-equipped devices with enough processing power made augmented reality a reality in 2010. Next year, wider availability of even more capable hardware and software will drive it mainstream.

Mobile shopping

The combination of increasingly popular and powerful smartphones with recession-weary consumers will see shoppers lean more heavily on their devices when they hit the mall.

“We’re seeing a lot more people using their mobile devices to find bargains, compare prices, conduct research and actually conduct commerce,” says Simon Buckingham, founder and CEO of Appitalism. “Three times more people used mobile devices while shopping on Black Friday compared to the previous year, so this will definitely continue to be a big trend into 2011.”

The arrival next year of even more powerful smartphone and tablet processors and the first wave of next-generation advanced 3.5G and 4G data networks will only fuel this trend, adds Buckingham.

Solid state drives

The spinning magnetic — and often crash-prone — hard drives that have stored documents, pictures and music on our desktop and laptop computers for decades could soon be replaced by a drive that doesn’t spin at all. Apple’s recently updated MacBook Air computers, for example, ship only with solid state drives (SSDs) that consume less power, generate less heat, and are more rugged than sometimes-fragile conventional drives.

Cost remains an issue, as typical hard drives still cost significantly less and are available in much higher capacities. But the price/size gap continues to shrink, and in 2011 SSDs will become more common.

The green agenda

Smarter, faster, better connected devices running smarter software will drive the push beyond simply using smartphones for email and basic web access. According to Don Campbell, chief technology officer of IBM Business Analytics, next year we’ll begin to use all that power to become a little greener.

“We’re moving to a place where more and more people can play a role in helping save our planet,” he says. “The fact is we all carry around these mobile devices and they have GPS, cameras and other capabilities. Being able to leverage the masses and the data and communication capabilities of these mobile devices is something that will start building steam in 2011.”

Campbell describes a scenario where a GPS-enabled smartphone uses knowledge of the environment, including weather and traffic data, to predictively suggest alternative — and more efficient — routes.

“We’ve already made the investment in infrastructure,” he says. “Once you start putting all of these pieces together, these mobile devices will allow us to be very intelligent and environmentally friendly by not wasting either our time or our energy.”

Carmi Levy is a London, Ont.-based independent technology analyst and journalist. carmilevy@gmail.com

Source: http://www.thestar.com/iphone/Business/article/909612

Posted via email from Sunny Batra's Blog

The top tech trends to watch for in 2011

The top tech trends to watch for in 2011

Pre-New Year projections are nothing new in the tech world. As we get set to welcome in 2011, however, it’s becoming increasingly clear that the year ahead will offer more than its fair share of geek-infused excitement.

2010 was the year when Apple’s iPad finally broke the industry’s 15-year tablet computer hex, 3D television came to the big box store, and WikiLeaks underscored just how vulnerable we’ve become to relatively simple security threats. The new year promises to build on the past 12 months with a wave of better tablets, better security offerings, and an ever-accelerating stream of increasingly interconnected devices and services.

Pull out your crystal ball as we look ahead at the following trends:

Tablets

For now, Apple’s iPad has the tablet market largely to itself, but that will change dramatically early in the new year. New devices powered by Google’s Android operating system are already hitting store shelves — Samsung’s Galaxy Tab is a strong early contender for iPad-alternative status — and RIM’s PlayBook is showing promise in advance of its anticipated release in the first quarter of the year.

“I’m pretty sure 2011 will be the year of the tablets,” says Chris Brozenick, vice president and general manager of WeatherBug Mobile, a mobile app development company. “We’ve already seen it start to take off. There’s no question these are transformational devices and they’re already causing a shift in people’s habits.”

3D TV

Last year’s blockbuster film, Avatar, whetted consumers’ appetite for three-dimensional content just in time for the first 3D flat-screens from major manufacturers to hit store shelves. But the majority of these first-generation televisions required users to don finicky and expensive glasses. And don’t even think about carting your glasses to your friend’s house, because the lack of industry standards means most of them won’t work with televisions from other manufacturers.

“This isn’t just inconvenient,” says Dave Evans, chief technologist with Cisco’s Internet Business Solutions Group (IBSG), “it precludes being able to experience 3D outside the home, like at the mall or at a car dealership. It’s a burden in many ways that today’s screens require glasses because it’s another thing you’ve got to carry around, another device you’ve got to worry about.”

Evans says new 3D TVs that don’t require glasses will allow the technology to become much more pervasive and easy-to-use in 2011.

Pico projectors

Everyone’s familiar with the overhead projectors that drive yawn-inducing PowerPoint presentations everywhere. Shrunken versions of those devices, typically the size of a deck of cards and known as pico projectors, have been available for the past couple of years, but their relatively high price has relegated them to the realm of senior executive plaything. As the technology shrinks in both size and cost, the ability to project information normally displayed onto a screen will be increasingly built into smartphones and other pocket devices.

“Today we use pico projectors as stand-alone devices,” says Evans. “But in 2011, they’ll become pervasive. Consumers will very quickly get used to them, as they’ll allow video and photos to be displayed anyplace, anytime.”

Augmented reality

Imagine holding a smartphone or tablet up in front of you and using the camera to record the scene. Augmented reality adds layers of detailed information about what you’re seeing, in real-time. So if you’re walking past the CN Tower, for example, an augmented reality application would display stats on the structure, and include details on how you could purchase tickets to the top and make lunch reservations once you’re there.

Camera-equipped devices with enough processing power made augmented reality a reality in 2010. Next year, wider availability of even more capable hardware and software will drive it mainstream.

Mobile shopping

The combination of increasingly popular and powerful smartphones with recession-weary consumers will see shoppers lean more heavily on their devices when they hit the mall.

“We’re seeing a lot more people using their mobile devices to find bargains, compare prices, conduct research and actually conduct commerce,” says Simon Buckingham, founder and CEO of Appitalism. “Three times more people used mobile devices while shopping on Black Friday compared to the previous year, so this will definitely continue to be a big trend into 2011.”

The arrival next year of even more powerful smartphone and tablet processors and the first wave of next-generation advanced 3.5G and 4G data networks will only fuel this trend, adds Buckingham.

Solid state drives

The spinning magnetic — and often crash-prone — hard drives that have stored documents, pictures and music on our desktop and laptop computers for decades could soon be replaced by a drive that doesn’t spin at all. Apple’s recently updated MacBook Air computers, for example, ship only with solid state drives (SSDs) that consume less power, generate less heat, and are more rugged than sometimes-fragile conventional drives.

Cost remains an issue, as typical hard drives still cost significantly less and are available in much higher capacities. But the price/size gap continues to shrink, and in 2011 SSDs will become more common.

The green agenda

Smarter, faster, better connected devices running smarter software will drive the push beyond simply using smartphones for email and basic web access. According to Don Campbell, chief technology officer of IBM Business Analytics, next year we’ll begin to use all that power to become a little greener.

“We’re moving to a place where more and more people can play a role in helping save our planet,” he says. “The fact is we all carry around these mobile devices and they have GPS, cameras and other capabilities. Being able to leverage the masses and the data and communication capabilities of these mobile devices is something that will start building steam in 2011.”

Campbell describes a scenario where a GPS-enabled smartphone uses knowledge of the environment, including weather and traffic data, to predictively suggest alternative — and more efficient — routes.

“We’ve already made the investment in infrastructure,” he says. “Once you start putting all of these pieces together, these mobile devices will allow us to be very intelligent and environmentally friendly by not wasting either our time or our energy.”

Carmi Levy is a London, Ont.-based independent technology analyst and journalist. carmilevy@gmail.com

Posted via email from Sunny Batra's Blog

Happy Holidays!! Ho… Ho … Ho …!

December 2010

Dear Friend,

Ho… Ho… Ho…

 

Guess what! This gift-giving all started with a Saint named Nicholas throwing a
purse of gold through a window each night for three successive nights.
It happened that Saint Nicholas knew a poor nobleman in Lycia, Asia Minor. The
fellow had three lovely daughters and he worried about their future, so Nick threw
a purse of gold through their window, and returned the two following nights to do
it again.

Well, you can imagine how happy that made them. And the news got ‘round and
folks all over Europe decided to make each other happy by giving gifts on a night
called Saint Nicholas’ Eve. For economy’s sake they cut it down to one night,
and dropped the gold purse idea – they just filled shoes and stockings with
candy, cookies, and handmade toys and trinkets.

Maybe I am just a silly softie, as you might say, but I am still old-fashioned
enough to believe there’s some sentiment left in business, after all.
So, not a single sentence about the real estate markets this month. Just a single
sincere statement…

May your Holiday Season be most Joyful
And

The New Year be most Prosperous.

 

 

Sunny Batra

Your Friend in Real Estate

Posted via email from Sunny Batra's Blog

Hot new properties not to be missed!

Hot new Investment properties in Toronto!
	TABLEAU  CONDOMINIUMS Hot new condos in the entertainment District. We have the Exclusive VIP Access to this project.  Neighbourhood: Queen Street West/Entertainment District Location: 117 Peter St. Price: $550-$575/sq.ft Comparables: over $620/sq.ft. Last date to send the worksheets for TABLEAU CONDOS is on Wednesday, October 20th. For detailed information Visit:  www.SunnyBatra.com/TableauCondos
	BACK STAGE Another hot development not to be missed! We have the VIP Access to the this project before the VIP Agents Launch and long before the general public opening. Neighbourhood:  St. Lawrence/Sony Center Location: Yonge St. & The Esplanade Price: Starting from $625/Sq.Ft Comparable: L Towers in the area are averaging around $680/sq.ft. I see lot of growth potential for my investors in this project Backstage Condos. For more information Visit  www.SunnyBatra.com/BackStageCondos

Posted via email from Sunny Batra's Blog

Still time to sell your home in 2010!

Still time to sell your home in 2010!

October 2010   Dear Friend, Don't believe everything you read in the newspapers or see on T.V about how bad the real estate market is. When all is said and done 2010 will, without doubt, finish as the third best year in the history of the Toronto Real Estate Board (after 2007 and 2009) in terms of the number of homes sold. As for average prices, 2010 will set yet another record with average prices in the GTA at $425,000 or 7.5 % higher than in 2009. One result of a strong real estate market is that many individuals perceive real estate as an easy job, that a "house sells itself", consequently more individuals "try" real estate as a career. Since 2001, the membership of the Toronto Real Estate Board has grown from about 17,000 to 30,000 today. That growth has not been a smooth one. For example, last year 3,073 new agents joined but, 1,400 left the real estate business. Here are some more startling facts from 2009: 6706 sales representatives sold 0 homes. 12,996 sales representatives sold 1-5 homes. 6,169 sales representatives sold 6-12 homes. 2101 sales representatives sold 13-18 homes. 2243 sales representatives sold 19+ homes. The real estate business is more complicated than ever before. We are now subject to new legislation and Acts such as Privacy and Fintrac as well as being aware of the new HST Tax and how it affects individuals as well as the market. It really is important to deal with an experienced full time agent who knows the market, the trends and is 100% committed to clients, an agent such as me. Have you been thinking of selling your home and changed your mind because you think you missed the good market? Have I got great news for you! The market is still strong, there is a shortage of active listings and interest rates are at record lows. So, if you are still thinking about it, I could have you out of your home and into a new one before the year is out. Have a great October and remember I am never too busy for your referrals!   Sunny Batra Your Friend in Real Estate

Posted via email from Sunny Batra's Blog

Happy Thanksgiving!

Thanksgiving is a special time of year, a time to reflect on the past year. A time to be thankful for the blessings we have and look forward to the year ahead with a renewed hope for an abundant harvest.

Happy Thanksgiving to you and your loved ones.

Posted via email from Sunny Batra's Blog

Reminder

Only a day left to register

The response for post house condos has been amazing; many people have registered to purchase a unit in this great project. If you are thinking of purchasing a unit here, I want to remind you that there is only a day left to register for this project.

Prices for this project are averaging around $500/sq.ft, which is amazing. This project is just a few minutes walk to the entertainment district where prices for the new condo developments are hovering around $750-$850 per square foot.

Post House Condos is conveniently located within walking distance to all amenities such as St. Lawrence Market, entertainment district, shopping, George Brown College, local food and fruit vendors, and luscious parks.

The growth potential at Post House Condos will be great. I definitely see great returns for my investors in this project.

Deadline to send the worksheet is by August 24^th. Units will be allocated in the order the worksheets are received.

Feel free to call me or e-mail me if you have any questions. Have a wonderful day.

 www.SunnyBatra.com/PostHouseCondos

Posted via email from Sunny Batra's Blog

Hot Investment property. Best time to buy!

 

Newsletter- August, 2010
Market continues to stabilize. Best time to buy!
Dear Friend,   Now is the Time! First of all I would like to thank you for your continued support which has made me the #2 agent in my office*. Thank you so much for your trust in me. I hate to say it, but if you are thinking of buying, it's a great time to do it. The first seven months of 2010 have been an extremely busy time. The total number of sales was up 12% over the same period last year and the average selling price was up 12 % as well to $432,253. You might think that after such a hot market, you should wait and see what happens, a natural reaction. What created the frenzied market of 2010? There were several factors. An increase in mortgage rates, the anticipated HST tax increase, a low inventory of homes and a continuing strong economy all resulted in one of the hottest markets Toronto has ever seen. With the Spring Market over, we have entered into a very hot and dry Summer. Many real estate agents as well as Buyers and Sellers have decided to rest and enjoy the weather, to get back to house hunting in the Fall. That means that in the Fall, the same conditions that created multiple offers and bidding wars, (low supply of available homes for sale and many buyers) might repeat themselves. In the peak of the market, 1 out of 2 houses were selling. Today it's 1 out of 4! That means that as a buyer you can find the right house, take some time to think about it and I have the time to put my negotiating skills to work for you to make sure you get the house you want at the price and terms you need. I would love to take off this Summer, but as the old saying goes, "make hay while the sun shines." Right now I am working because it is best for my clients. If you are even considering buying later in the year or have a friend or relative thinking about it, let's get together and let me show you why NOW, is the time! Enjoy August, and remember, I am never too busy for your referrals.   SunnyBatra Your Friend in Real Estate Triple "A" Real Estate in the St. Lawrence Neighbourhood
	Post House Condos Post House Condos, located just behind Toronto's first post office, brings history and elegance to the downtown core.  Neighbourhood: Steps from city's financial district and entertainment district, George Brown College, St. Lawrence Market and all the shopping in the area. Here you're surrounded by it all, in an urban playground that's open 24/7 and all just a quick stroll away from both the King and Union subway stations. Amazing Price starting from $488/Sq.Ft. (now a days what can you get in downtown for this price???) 1 Bedroom from $257,990 1 Bedroom + Den from $297,900 2 Bedroom from $346,990 Downpayment: $3000 with the offer, Balance of 5% in 30 days, 5% in 90 days, 5% in 180 days, 5% in 365 days. Total investment/deposit of 20% in a year. Occupancy: August 15, 2014 For more information Visit www.SunnyBatra.com/PostHouseCondos

Posted via email from Sunny Batra's Blog

Market continues to stabilize. Best time to buy!

Newsletter- July 2010

Market continues to stabilize. Best time to buy!

Dear Friend,

 

My prediction of the sales activity was right on last month. I predicted 8,500 homes sold in June and in fact 8,442 homes sold! With approximately 25,500 homes for sale, that means that 2 out of 3 homes did not sell in June!

July's sales statistics will be similar. As we head into the heat of the Summer, the number of homes sold and homes available for sale will decrease. I expect approximately 7,500 homes out of the listed 24,000 homes to sell in July; again about 2 out of 3 homes will not sell.

Prices will remain stable as this level of availability continues. I believe this balanced market of stable prices will continue until the Spring of 2011. While it's easy to make a prediction, it's another thing to be right (the weatherman for instance). Many factors influence buyers into or out of the market (lower interest rates, abundance of economical rental properties, being two examples) and that would mean another change in prices.

A stable market is the best time to buy a home. There is a variety to choose from, there is no hurry, and there will be many offers conditional on getting the existing home sold and the opportunity to negotiate for a better price. It's a different market that requires skill, knowledge and experience. When only 1 out of 3 homes sell, you must get a full time, professional realtor on your side if you want to be the 1 that sells!

There is an old expression that says," make hay when the sun shines". It's a great time to buy a home or upgrade your home. Call me if you have any questions, I would be happy to talk.

If your mortgage is coming up for renewal, do not automatically renew with your current mortgage company, I can generally get a lower rate for you and save you a lot of money!

Have a great July!

SunnyBatra
Your Friend in Real Estate

Hot Investment 

Triple "A" Real Estate in Toronto's most affluent downtown neighborhood 

Just West of Spadina and steps to all the star studded hot spots of King West Village. 

Prices: Around $500/sq.ft 

Comparable project: Thompson Residences at around $700/sq.ft

Tentative Occupancy: March 2012

On these new release units sales have not started to the broker community or anyone officially yet, but if you are interested in Lofts 399, please contact me because I have an exclusivity to sell units to my clients at substantial discounts from what prices will be when they launch to the broker community. 

Watch the King street presentation

Posted via email from Sunny Batra's Blog

Parking lot economics drive prices higher

A parking lot, seen on Oct. 28, 2006, in Calgary. Jeff McIntosh/Globe and Mail

Lack of new supply, insatiable demand and condo developments mean parking is practically recession-proof

Steve Ladurantaye Real Estate Reporter

From Tuesday's Globe and Mail

Published on Monday, Jul. 19, 2010 10:00AM EDT

Last updated on Monday, Jul. 19, 2010 7:57PM EDT

 

As giant chunks of hail bounced off Sheryl Purdy’s car, the Calgary stock broker briefly considered upgrading to an indoor parking spot.

Her daydream didn’t last long. She already pays $400 monthly for a space a block from her downtown office, a relative bargain in Canada’s priciest parking market.

“I could park further away and reduce the price,” she said. “But I’d probably have frostbite by the time I got to work in the winter. And in the dark, early mornings, it’s just not safe. So, I pay it and bite my tongue.”

The price of parking has consistently increased each year, as downtown developers pave over parking lots to build condo paradises. A shortage of spots, a lack of new supply and insatiable demand have all contributed to steady price gains in an often forgotten corner of commercial real estate.

In the past 10 years, the price of a Calgary spot has increased by 233 per cent, according to Colliers International. Toronto prices have gone up 130 per cent.

“There is no purer form of economics than those found in the parking lot,” said Julian Jones, senior vice-president at Vancouver-based Impark, which operates lots across North America. “It is completely market driven, and it is not easy to adjust quickly to demand fluctuations.”

 

Paved paradise for lot owners

The median price for a monthly unreserved spot in downtown Calgary is $453, Colliers said yesterday in its 10th annual international parking survey. That’s $117 more than Toronto, which comes in second at $336.

Canada’s parking story is all about supply and demand – dozens of downtown lots from coast to coast have been torn up and redeveloped into condominiums over the past five years, and it’s not easy to find new spots once they vanish.

On a daily basis, Toronto is more expensive at $23, compared with Calgary’s $22. The city has lost several downtown lots in the past two years as developers rush to erect new buildings on attractive sites, said BuzzBuzzHome Corp. president Matthew Slutsky, including the new Trump Tower and the Festival Tower, which will be the new home of the Toronto International Film Festival.

“Parking lots provide land developers with a piece of land with no rental-tenant commitments and no buildings to demolish,” he said. “At the same time, there is an excellent income opportunity on the site while they work on zoning and planning issues.”

Parking lots are commercial real estate, but they are also largely recession-resistant because of long waiting lists built up in better times.

“The reason prices keep going up really comes down to limited supply,” said Wayne Duong, director of research with Colliers International in Canada. “There’s a reason Donald Trump doesn’t build parking lots – they think it makes more sense to build condos and office buildings.”

There are waiting lists in eight out of the 12 markets surveyed – and only 10 new garages to be developed in the next two years. Given those dynamics, prices aren’t likely to get any lower. For downtown workers who need their cars to get in from the suburbs or attend meetings through the day, there’s little choice but to pay.

“I am actually very grateful to have a spot that I can have on a monthly basis,” Ms. Purdy said. “Many people don’t have one. I just don’t enjoy paying, but I do anyway for the luxury of having a parking space.”

Canadian parking prices pale in comparison with other global centres. London’s city centre is the most expensive in the world at $933 (U.S.) a month, with its West End coming in second at $874. Hong Kong ($745), Tokyo ($654) and Zurich ($605) rounded out the Top 5.

In North America, Midtown Manhattan was the most expensive, at $538, while downtown spots in New York fetched $529. Calgary was the third most expensive, followed by Boston ($425) and San Francisco ($375).

“While many businesses and consumers are still acting prudently, demand for parking looks to be somewhat insensitive to price, allowing parking garage owners and operators to hold rates steady even in the face of economic hardship for many,” said Ross Moore, Colliers’ chief economist.

Posted via email from Sunny Batra's Blog

Parking lot economics drive prices higher

A parking lot, seen on Oct. 28, 2006, in Calgary. Jeff McIntosh/Globe and Mail

Lack of new supply, insatiable demand and condo developments mean parking is practically recession-proof

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Steve Ladurantaye Real Estate Reporter

From Tuesday's Globe and Mail

Published on Monday, Jul. 19, 2010 10:00AM EDT

Last updated on Monday, Jul. 19, 2010 7:57PM EDT

 

As giant chunks of hail bounced off Sheryl Purdy’s car, the Calgary stock broker briefly considered upgrading to an indoor parking spot.

Her daydream didn’t last long. She already pays $400 monthly for a space a block from her downtown office, a relative bargain in Canada’s priciest parking market.

“I could park further away and reduce the price,” she said. “But I’d probably have frostbite by the time I got to work in the winter. And in the dark, early mornings, it’s just not safe. So, I pay it and bite my tongue.”

The price of parking has consistently increased each year, as downtown developers pave over parking lots to build condo paradises. A shortage of spots, a lack of new supply and insatiable demand have all contributed to steady price gains in an often forgotten corner of commercial real estate.

In the past 10 years, the price of a Calgary spot has increased by 233 per cent, according to Colliers International. Toronto prices have gone up 130 per cent.

“There is no purer form of economics than those found in the parking lot,” said Julian Jones, senior vice-president at Vancouver-based Impark, which operates lots across North America. “It is completely market driven, and it is not easy to adjust quickly to demand fluctuations.”

 

Paved paradise for lot owners

The median price for a monthly unreserved spot in downtown Calgary is $453, Colliers said yesterday in its 10th annual international parking survey. That’s $117 more than Toronto, which comes in second at $336.

Canada’s parking story is all about supply and demand – dozens of downtown lots from coast to coast have been torn up and redeveloped into condominiums over the past five years, and it’s not easy to find new spots once they vanish.

On a daily basis, Toronto is more expensive at $23, compared with Calgary’s $22. The city has lost several downtown lots in the past two years as developers rush to erect new buildings on attractive sites, said BuzzBuzzHome Corp. president Matthew Slutsky, including the new Trump Tower and the Festival Tower, which will be the new home of the Toronto International Film Festival.

“Parking lots provide land developers with a piece of land with no rental-tenant commitments and no buildings to demolish,” he said. “At the same time, there is an excellent income opportunity on the site while they work on zoning and planning issues.”

Parking lots are commercial real estate, but they are also largely recession-resistant because of long waiting lists built up in better times.

“The reason prices keep going up really comes down to limited supply,” said Wayne Duong, director of research with Colliers International in Canada. “There’s a reason Donald Trump doesn’t build parking lots – they think it makes more sense to build condos and office buildings.”

There are waiting lists in eight out of the 12 markets surveyed – and only 10 new garages to be developed in the next two years. Given those dynamics, prices aren’t likely to get any lower. For downtown workers who need their cars to get in from the suburbs or attend meetings through the day, there’s little choice but to pay.

“I am actually very grateful to have a spot that I can have on a monthly basis,” Ms. Purdy said. “Many people don’t have one. I just don’t enjoy paying, but I do anyway for the luxury of having a parking space.”

Canadian parking prices pale in comparison with other global centres. London’s city centre is the most expensive in the world at $933 (U.S.) a month, with its West End coming in second at $874. Hong Kong ($745), Tokyo ($654) and Zurich ($605) rounded out the Top 5.

In North America, Midtown Manhattan was the most expensive, at $538, while downtown spots in New York fetched $529. Calgary was the third most expensive, followed by Boston ($425) and San Francisco ($375).

“While many businesses and consumers are still acting prudently, demand for parking looks to be somewhat insensitive to price, allowing parking garage owners and operators to hold rates steady even in the face of economic hardship for many,” said Ross Moore, Colliers’ chief economist.

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Happy Canada Day!

Enjoy your day with your loved ones. I am off  to wonderland with my family for some roller coaster rides and fireworks. How do you plan on spending your day?

Regardless of what you choose to do today have lots of fun with your family and loved ones.

Happy Canada Day

Posted via email from Sunny Batra's Blog

Third best May in the history of the Toronto Real Estate Board

 

 

June, 2010

Dear Friend, 

I would like to apologies for sending out this newsletter late. I have been extremely busy with Five Condos project and now Chaz On Charles project that I didn't get much time to research and write this month's newsletter.

The real estate market continued to be extremely active in May with the sale of 9,470 homes, resulting in the third best May in the history of the Toronto Real Estate Board. The average price of a home rose to $434,155, up 9.7% since the start of 2010, more proof as to the great investment that real estate really is.

The first five months of 2010 have been extremely busy, brought on by the specter of rising interest rates and the new HST (Harmonized Sales Tax). While the rest of 2010 will continue to be active, I do not believe sales will maintain their current torrid pace. With April's 10,898 sales being the "peak "of 2010's market, the number of sales will slow down as we head first into the Summer months and then into the end of the year. The number of homes available for sale increases with the Summer market as well and now stands at 25,414.

While there are fewer buyers and more homes for sale, prices will not decrease. Buyers will have more choices to pick from, but well priced homes will sell and for top dollar.

Those sellers who will be represented by professional agents who know how to price, market and negotiate on their behalf will do better, the others will not. Last year, 2009, out of the 30,000 agents on the Toronto Real Estate Board, over 7,000 did not sell 1 home all year! There is a difference in agents and companies. My company, RE/MAX, spends about $9,000,000 per year in media advertising in the Toronto area alone. That attracts more buyers to me and with more buyers I can sell your home faster and for more money!

June will see approximately 8,500 homes sold, 1 out of 3 homes for sale. Two out of three homes will not sell! It is a great time to get into the real estate market. Call me and let me show you the benefits of upgrading your home today.

Have a great month,

SunnyBatra
Your Friend in Real Estate

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Happy Father's Day!

This day is a very special day as it reminds me of all the good times I had with my father who is not with us today. He passed away several years back. He was my best friend. I wish I could turn the clocks back but I can't.  However I can take this time to wish all the fathers a Very Happy Fathers Day. I hope you have a wonderful day with your loved ones.  If you are not a father then give you father a big hug with a kiss on the cheek and tell how much you love him.

 

Happy Fathers Day

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Renting vs. Buying, Which Option is Better for You?

   

Buying a house can be the most rewarding purchase you ever make. However depending on your current circumstance this may not be your best option.  To help make an educated decision, try to answer the following questions first:
1. Do you really want to own your home?
Some would argue that this is the first question you should ask yourself. Home ownership, like everything else, is a matter of choice. Only you can decide whether or not home ownership is important to you. If it is then you may want to re-assess how you spend your money every month.
2.  How often do you expect to move in the future?
If you expect to be moving a lot (every couple of years or more) then you probably shouldn't buy your own home. Every time you buy or sell a home you incur significant costs (selling commissions alone average 6%). Unless you get lucky and the value of the home you purchased goes up by at least 10%, you'll be losing money.
3.  How stable is your employment situation?
You should only consider buying a home if your employment is stable. Home ownership requires a number of regular payments like the mortgage, property taxes, maintenance, insurance, etc. Missing any of these payments can trigger terrible consequences for a homeowner. Unless your employment is stable, your best option is "renting".
4. Can you afford to make the monthly payments?
When qualifying for a loan, most mortgage companies will not allow your housing costs to be more that 33% of your gross income. Housing costs include your mortgage payment, property taxes, utilities, and 50% of condo fees if applicable. If your total debt servicing costs (housing costs plus all of your other monthly debt payments) exceed 40% of your gross income you will not qualify for a mortgage.
How much rent are you paying now? What is the maximum amount you are willing to pay?
If you buy a home, it is important to have some money set aside for "emergencies". You may not be able to save as much money as a homeowner as you did when you were renting, but it is important that you leave some room in your budget. If you have to stretch your budget too far,  you should definitely reconsider your home purchase.
5. Do the math 
Housing costs can be divided into shelter costs and investment costs. When you rent, you pay your shelter costs, and the landlord pays the investment costs. When you buy, you pay both, which is usually more. Ten years later when you sell the house, you will find that your investment did well and you saved a lot of money by buying.
From a purely financial standpoint, whether you should rent or buy comes down to your monthly budget and the cost of borrowing. If you have the down payment and interest rates are 5% or lower, it makes very little difference whether you rent or buy. At interest rates above 8%, buying will cost you 20% or more than renting.
Although it might seem that you will be spending more money on buying a house than renting, you need to consider your options and priorities. There are many more advantages of purchasing a home over renting.
Conclusion 
Buying a house is an investment, and for many people it is a good one. You can purchase insurance to help you manage any potential risks like fire, earthquakes, and thefts. Remember to take your buying/selling costs into account when considering selling your home. The strength of the real estate market in your area will determine the return on your investment.
Assuming that you can afford the increased costs of owning your home, the question of what's better, renting or buying a house, becomes one of personal preference. There is a certain satisfaction in owning your own home, but only if it is important to you.
If you are only staying somewhere for short period of time (less than five years), renting is almost always better; the transaction costs of buying and selling houses will definitely make it less expensive just to rent.
For longer periods, buying a house is usually better. Although if you have the discipline to invest the difference between your rent and your potential mortgage and other buying costs in a reasonably high yielding investment, renting might be better.  But that's if you carefully figure out the difference and diligently invest that difference. If you can't do that then buying is probably the better choice.
Buying a house is usually a sound long term investment as it helps you build equity vs. throwing your hard-earned money away as rent real estate generally appreciates; a house bought today is worth more a few years down the road.

 

Sunny Batra, Sales Representative
Re/max Realtron Realty Inc.
Office: 416 289 3333
Fax: 416 289 4535
www.SunnyBatra.com  
My Blog www.SunnyBatra.posterous.com
Follow me www.Twitter.com/Sunny_Batra      
Facebook group www.fbook.me/TorontoInvestment    
Friends Page www.facebook.com/Realtor.SunnyBatra

 

Posted via email from Sunny Batra's Blog