yorkvillecondoblog

Everything you want to know about Yorkville Toronto Condominiums

High Toronto Home Prices Has Ripple Effect On Yorkville Condos

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Yorkville Toronto Condo Market Report
1st Quarter 2016 Sold Prices Per Square Foot & Luxury Unit Sales 

2016 Yorkville Condos Toronto units sales 1st Quarter Victoria Boscariol Chestnut Park Real Estate

 

The Yorkville Toronto Condo Market experiences the ripple effect from the strong price gains currently seen in Toronto’s housing market

• Sold prices for Yorkville condos are up 16.5% from this time last year
The average selling price for a Yorkville condo is $1,274,953 up 31% from the previous quarter’s $975,682.
• It only took 39 days on average for a Yorkville condo to sell; 12 days faster than in the previous quarter.
• Average sold price per square foot was $835 down slightly from last quarter’s $846


Yorkville Luxury Condo Sales Over $2M

The 1st quarter of 2016 only had 5 suite sales over $2 million.  However three of those sales were over the five million dollar mark which drove up the average sold price and average sold price per square foot dramatically as compared to last quarter.  The first quarter average sold price was $4.545M with a sold price per square foot of $1,349.  The 3 suites sales over the $5 million mark all occurred in the Four Seasons Private Residences.

This quarter’s 5 sales of luxury condos over $2M took place in three Yorkville condo buildings:

Yorkville Luxury Condo Building
Name & Address
# of Luxury Units Sold
Over $2.0M
1st Quarter 2016
Four Seasons Private Residences 50 Yorkville Avenue 3
100 Yorkville Ave 1
55 Prince Arthur Ave 1

 

Yorkville Condos Average Price Per Square Foot
The first quarter of 2016 sold stats for Yorkville resale condos reveals that the average sold price per square foot for a Yorkville condo was $835, down slightly from the previous quarter’s $846. 

Type Of Condo Unit Average Sold Price
Per Square Foot
1 Bedroom Condo $768
1 Bedroom Plus Den Condo $754
2 Bedroom Condo $899
2 Bedroom Plus Den Condo $1,078
3 Bedroom Or Larger $677

 

Yorkville Condos Sales Volume
71 condo units sold in the first quarter of 2016. This was a 53% increase from the last quarter when 46 condo units sold. 

Yorkville Resale Condos Days On Market Comparison
It only took 39 days for a Yorkville condo to sell in the 1st quarter; 12 days faster that in the previous quarter.

Yorkville Condo Resale Values 2015 Fourth Quarter
The average selling price for a Yorkville condo was $1,274,953 up 31% from the 4th quarter’s $975,682. 

Type Of Condo Unit # Sold Average
Sold Price
% of List Average
Number
Of Days
On Market
1 Bedroom Condo 11 $634,391 98 43
1 Bedroom Plus Den Condo 15 $612,293 98 21
2 Bedroom Condo 32 $1,023,415 98 44
2 Bedroom Plus Den Condo 10 $2,098,000 98 49
3 Bedroom Or Larger 3 $2,001,667 100 38

 

See more of the latest SOLD PRICES and SOLD STATS for Yorkville Condos Toronto

See the latest Sales for Yorkville Toronto Condos by Building Address

Thinking Of Selling Your Yorkville Luxury Condo?  Contact Victoria

See MLS LISTINGS for Yorkville Toronto condos

Moving To Yorkville? Find Out More About The Toronto Neighbourhood Where Uptown Meets Downtown

Buying A Yorkville Toronto Condo? What you need to know before you buy in Yorkville

Renting Vs Buying A Yorkville Toronto Condo. Which is the better option?

See the most comprehensive GUIDE to Yorkville Toronto Condos

See Yorkville Toronto Condos Luxury Boutique Buildings of under 50 Suites

See Yorkville Toronto Condos Pet Friendly Buildings

See Yorkville Toronto Condo Buildings With 3 Bedroom Suites

See the latest Yorkville Toronto New Condos Under Construction

See the latest Yorkville Toronto Pre Construction Condos

See the latest condo projects Planned & Proposed for Yorkville Toronto

See the latest news on Yorkville Toronto Condos New Releases

Investing in New & Pre-construction Condos in Yorkville & Downtown Toronto?
How to get the Maximum Return On Investment

Buying a NEW CONSTRUCTION condo in Yorkville? What you need to know BEFORE you visit the sales office

Toronto Condo Checklist What you need to ask BEFORE you buy

Read about buying a condo in Toronto and TAXES that may apply

The History of the Village of Yorkville

See Yorkville Toronto Schools & Daycares with Quality Rankings & Reviews

Questions about Yorkville Toronto condos?

Thinking Of Selling Your Yorkville Luxury Condo?  Contact Victoria

There is always a healthy supply of condominium units available for sale in the Yorkville area. However, the best suites, the units with the great floor plans, clear views and in the good buildings sell right away. Top valued condos sell within days and if you want the opportunity …

Just Listed FOR SALE Yorkville Luxury 2 Bedroom Condo With Fabulous Terrace

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The Florian Residences Yorkville 
88 Davenport Rd Suite 404 Toronto
Offered For Sale At $869,000

The Florian Luxury Condos Yorkville 88 Davenport Rd Toronto Victoria Boscariol Chestnut Park Real Estate

• Stunning suite with south west exposure and tree top views overlooking Jesse Ketchum Park
• Approximately 1027 square feet plus 208 square foot terrace
• Superb finishes with hardwood flooring & top of the line stainless steel appliances
• Ten foot ceiling height

• Includes parking and locker
• Fabulous luxury building amenities include valet parking, 24 hour concierge, indoor pool, gym, party room and more
• Steps Yorkville restaurants & designer shops, University of Toronto & subway

See Floor Plans & Virtual Tour

I’d Like To Book A Showing To View This Suite

Florian Condos For Sale Yorkville 2 Bedrooms 88 Davenport Rd Toronto Suite 404 Victoria Boscariol Chestnut Park Real Estate88 Davenport Rd Yorkville Toronto Condos 2 Bedroom Units For Sale Victoria Boscariol Chestnut Park Real Estate
Florian Condos For Sale Yorkville Toronto 88 Davenport Rd Unit 404 Kitchen Victoria Boscariol Chestnut Park Real Estate88 Davenport Rd Toronto Condos The Florian Yorkville Kitchen Unit 404 Victoria Boscariol Chestnut Park Real Estate
The Florian 2 Bedroom Condos For Sale Yorkville Kitchen 88 Davenport Rd Toronto Victoria Boscariol Chestnut Park Real Estate88 Davenport Rd Unit 404 Living Dining Room Toronto Yorkville 2 Bedroom Condos Victoria Boscariol Chestnut Park Real Estate
The Florian Condos For Sale Yorkville 88 Davenport Rd Living Room Victoria Boscariol Chestnut Park Real EstateYorkville 2 Bedroom Condos For Sale 88 Davenport Rd Toronto Florian Master Victoria Boscariol Chestnut Park Real Estate
2 bedroom condos for Sale Yorkville Toronto The Florian 88 Davenport Rd Master Bedroom Victoria Boscariol Chestnut Park Real Estate88 Davenport Rd The Florian 2 Bedroom Condos For Sale 2nd Bedroom Victoria Boscariol Chestnut Park Real Estate
Florian Condos 88 Davenport Rd Suite 404 2nd Bedroom Victoria Boscariol Chestnut Park Real Estate88 Davenport Rd Toronto Suite 404 Bathroom Yorkville Condos For Sale Victoria Boscariol Chestnut Park Real Estate
Yorkville Condos For Sale Terraces Toronto The Florian 88 Davenport Rd Victoria Boscariol Chestnut Park Real EstateYorkville Condos For Sale Terraces The Florian 88 Davenport Rd Toronto Victoria Boscariol Chestnut Park Real Estate
Overlooking Jesse Ketchum Park Views From The Florian Condos Yorkville 88 Davenport Rd Toronto Victoria Boscariol Chestnut Park Real EstateThe Florian Condos Yorkville 88 Davenport Rd Toronto Indoor Pool Victoria Boscariol Chestnut Park Real Estate

Inclusions: Oven & Gas Stovetop with 5 burners, Panasonic Genius Microwave & Hood, Miele 2 Door Fridge, Perlick Wine Fridge, AEG Electrolux Dishwasher. Washer & Dryer. Window Coverings, Attached Electric Light Fixtures & Custom Closets. Parking & Locker.

Monthly maintenance fee $975.68 covers heat, water, building insurance, common elements & parking.

Taxes for 2015 $5,820.04

Pet Policy: Maximum two pets per unit with a maximum weight of thirty pounds per each pet.

I’d Like To Book A Showing To View This Suite

See Floor Plans & Virtual Tour

Find Out More About The Florian Condos

Find Out About Other Suites For Sale At The Florian Luxury Condos

ALERT ME WHEN SUITES ARE AVAILABLE FOR SALE AT THE FLORIAN THAT MEET MY REQUIREMENTS

SEE MAP OF YORKVILLE ANNEX CONDOMINIUMS CURRENTLY AVAILABLE FOR SALE

See MLS LISTINGS for Yorkville Toronto condos

See the most comprehensive GUIDE to Yorkville Toronto Condos

See Yorkville Toronto Condo Buildings With 3 Bedroom Suites

See Yorkville Toronto Luxury Penthouses

See Yorkville Toronto Condos Luxury Boutique Buildings of under 50 Suites

See Yorkville Toronto Condos Pet Friendly Buildings

See the latest SOLD PRICES and SOLD STATS for Yorkville Condos Toronto

See the latest Sales for Yorkville Toronto Condos by Building Address

Moving To Yorkville? Find Out More About The Toronto Neighbourhood Where Uptown Meets Downtown

Buying A Yorkville Toronto Condo? What you need to know before you buy in Yorkville

The History of the Village of Yorkville

See Yorkville Toronto Schools & Daycares with Quality Rankings & Reviews

Read about buying a condo in Toronto and TAXES that may apply

Toronto Condo Checklist What you need to ask BEFORE you buy

See the latest Yorkville Toronto New Condos Under Construction

See the latest Yorkville Toronto Pre Construction Condos

See the latest condo projects Planned & Proposed for Yorkville Toronto

See the latest news on Yorkville Toronto Condos New Releases

Investing in New & Pre-construction Condos in Yorkville & Downtown Toronto?
How to get the Maximum Return On Investment

Buying a NEW CONSTRUCTION condo in Yorkville? What you need to know BEFORE you visit the sales office

Questions about Yorkville Toronto condos?

Thinking Of Selling Your Yorkville Luxury Condo?  Contact Victoria

There is always a healthy supply of condominium units available for sale in the Yorkville area. However, the best suites, the units with the great floor plans, clear views and in the good buildings sell right away. Top valued condos sell within days and if you want the opportunity …

Going From Buyer To Toronto Property Owner: Its Not As Difficult As You Think

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How The Real Estate Transaction Process Works In Downtown Toronto

For contracts and agreements in the sale of real estate to be legal in Toronto they must be spelled out on paper, rather than verbal, and signed by both the Buyer and Seller.

Going From Buyer To Toronto Property Owner The Real Estate Transaction Process Victoria Boscariol Chestnut Park

When you have found a Toronto home or condo you would like to purchase here’s how the whole buying process unfolds:

Your real estate agent will discuss with you comparable recent sold properties and once you decide on a price to offer, the agent prepares an Offer To Purchase.

The Offer To Purchase indicates not only the purchase price but also the closing date or the day you want to take possession of the property as well at the amount you will pay as deposit.  You do not have to be physically present in Toronto for the closing date.

The deposit is usually 5%-10% of the purchase price.  The deposit amount has to be in the form of a certified cheque, bank draft or money order from a Canadian bank made out to the Listing Brokerage.  It is held in trust with the Listing Brokerage and on the day of closing goes towards the purchase price.

An Offer To Purchase is not good forever but has a time limit date on it called an Irrevocable Date. If the Seller does not respond to your offer before this date your offer expires and therefore is no longer valid.

As a prospective buyer once you sign the Offer to Purchase, your agent will then present the offer along with the deposit cheque to the Seller through the Seller’s real estate agent.

The Seller can do one of three things in response to your offer.  He can counter-offer by making changes to your Offer To Purchase, this is known as a sign-back.  He can accept your offer or he can simply do nothing and let your offer expire.

Negotiations proceed back and forth on the Offer to Purchase until the buyer and seller both agree.

Once both the Buyer and Seller agree to the terms of the Offer To Purchase it becomes an Agreement of Purchase and Sale.  A copy of the signed Agreement is sent to your lawyer  who will review the conditions of the sale and note the closing date.

All conditions of the Agreement, such as home inspection, financing or review of the Status Certificate must be satisfied by the stated date.

For a condo purchase, the Agreement will be conditional upon your lawyer reviewing the condominium documents known as a Status Certificate which includes the by-laws, financials, and declaration of the condo building.   It may take up to 2 weeks for the condo building to supply these documents at a cost of $100.00.  Once your lawyer has reviewed these documents and finds them satisfactory you will sign a waiver.

If you are purchasing a house, the Agreement may be conditional upon a home inspection. You will only have a few days to do a home inspection so it is important to have an appointment with a home inspector arranged ahead of time.

The Agreement may also be conditional upon the Buyer getting financing for the property.  Your agent will send the Agreement to your lender or mortgage broker for approval.

If all conditions are met the Buyer signs a waiver and the sale of the property is no longer conditional but now firm.  If any of the conditions are not met during the stated time period a Buyer can cancel the Agreement.

Your lawyer completes a title search on the property to ensure that the seller is the legal owner of the property.  The lawyer also prepares a Statement of Adjustment which confirms the selling price and the amount the buyer has to pay the seller on the day of closing.  The buyer then provides these funds to the lawyer in trust.

On the closing day, the lawyer pays the funds to the Seller, registers the property in your name and provides you with a deed to the property.

Have Questions About Buying Real Estate In Toronto? Contact Me

Living Outside Of Canada & Thinking Of Buying Real Estate In Toronto Foreign Buyer's GuideVictoria Boscariol is a real estate agent in Toronto Canada with Chestnut Park Real Estate Limited Brokerage. With over 20 years experience, Victoria has been helping people successfully buy and sell condos and houses in Yorkville and downtown Toronto. As a Certified International Property Specialist (CIPS) she has worked with Buyers from around the world moving to Toronto from China, Russia, Brazil, India, South Africa, United Arab Emirates, Jordan, Cyprus, Italy, Germany, The United Kingdom, Australia and the United States.
Your Passport To The Perfect Property In Toronto

 

 

Foreign Buyers Guide To Purchasing Real Estate In Toronto

Requirements For Foreign Buyers Of Toronto Real Estate …What You Need To Know Before You Begin Your Property Search

Canadian Banks, Funds & Financing For Foreign Buyers Of Toronto Real Estate

How The Real Estate Market Works In Toronto Canada 

Taxes And Foreign Buyers Of Toronto Real Estate

Closing Costs For Foreign Buyers Of Toronto Real Estate

Selecting And Working With A Real Estate Lawyer When Buying Property In Toronto Canada 

Understanding The Paperwork..Important Elements of The Agreement Of Purchase & Sale When Buying A Toronto House Or Condo

How To Make An Offer & Negotiate The Purchase Of A Toronto Home Or Condo 

Real Estate Prices Around The World & Why Buying A Toronto Condo Is A Shrewd Investment

Urban Dictionary Of Real Estate Words, Terms & Meanings Unique To Toronto Canada

The Quick & Easy Guide To Canadian Taxes For Foreign Buyers Purchasing Real Estate In Toronto

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Canadian Taxes & Foreign Buyers Of Toronto Real Estate

You do not need to be a Canadian citizen to own property in Toronto.  As a non-resident of Canada there are no restrictions on foreign ownership of Toronto real estate.  There are also no additional taxes foreign buyers must pay when purchasing real estate in Toronto. 

However, all buyers, whether local or foreign, who purchase real estate in Toronto are required to pay two Land Transfer Taxes (LTT) – one to the province of Ontario and one to the City of Toronto.  A purchase of a $1M home or condo in Toronto translates into approximately $32,200 owing in Land Transfer Tax.  A simple way to determine the approximate amount of funds you will need to set aside for land transfer tax is to use this Land Transfer Tax Calculator. 

If you are a first time home buyer you are eligible for certain rebates and tax credits.  In order to be considered a first time homebuyer you cannot have owned property before in your lifetime anywhere in the world. First time buyers can get a rebate of up to $2,000 which is equivalent to the first $227,500 of a property’s value for the Ontario Land Transfer Tax and a rebate of up to $3,725 which is equivalent to the first $400,000 of a property’s value for Toronto’s land transfer tax. 

If you are purchasing a new house or condo from the builder or buying a house that has been extensively renovated, the Harmonized Sales Tax (HST) of 13% will apply.  Buyers of new homes and condos can apply for federal and provincial government rebates to offset portions of the HST.  The HST does not apply on the purchase price of resale homes and condos.  Also a buyer does not pay Land Transfer Tax on the HST portion of the purchase price.

While there are no additional taxes for foreign buyers purchasing real estate in Toronto there are tax implications for foreign owners when they sell property in Toronto.  A foreign seller may be subject to a non-resident withholding tax of 25% on the sale price of the property.  Further details can be found on the Canada Revenue Agency website.  One should consult with their own accountant to fully understand the Canadian tax rules and implications of selling a property in Toronto as a foreign owner.

Once you are an owner of property in Toronto you will have to pay yearly property taxes to the City of Toronto.  The annual property tax is calculated by multiplying the tax rate and the current value of the property.  The City of Toronto mails out tax bills twice a year.

Have Questions About Buying Real Estate In Toronto? Contact Me

Living Outside Of Canada & Thinking Of Buying Real Estate In Toronto Foreign Buyer's GuideVictoria Boscariol is a real estate agent in Toronto Canada with Chestnut Park Real Estate Limited Brokerage. With over 20 years experience, Victoria has been helping people successfully buy and sell condos and houses in Yorkville and downtown Toronto. As a Certified International Property Specialist (CIPS) she has worked with Buyers from around the world moving to Toronto from China, Russia, Brazil, India, South Africa, United Arab Emirates, Jordan, Cyprus, Italy, Germany, The United Kingdom, Australia and the United States.
Your Passport To The Perfect Property In Toronto


Foreign Buyers Guide To Purchasing Real Estate In Toronto
 

Requirements For Foreign Buyers Of Toronto Real Estate …What You Need To Know Before You Begin Your Property Search

Canadian Banks, Funds & Financing For Foreign Buyers Of Toronto Real Estate

How The Real Estate Market Works In Toronto Canada 

Going From Buyer To Toronto Property Owner – The Real Estate Transaction Process In Toronto

Closing Costs For Foreign Buyers Of Toronto Real Estate

Selecting And Working With A Real Estate Lawyer When Buying Property In Toronto Canada 

Understanding The Paperwork..Important Elements of The Agreement Of Purchase & Sale When Buying A Toronto House Or Condo

How To Make An Offer & Negotiate The Purchase Of A Toronto Home Or Condo 

Real Estate Prices Around The World & Why Buying A Toronto Condo Is A Shrewd Investment

Urban Dictionary Of Real Estate Words, Terms & Meanings Unique To Toronto Canada

The Secret Ingredients In Toronto’s Real Estate Market

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From Licensed Agents To The Multiple Listing Service (MLS)
Foreign Buyers Guide To How The Real Estate Market Works In Toronto Canada

The Secret Ingredients In Toronto's Real Estate Market
The Toronto Real Estate Board is the largest real estate association of licensed REALTORS® in the world. In Toronto real estate agents must be licensed to sell real estate as Sales Representatives or Brokers. All licensed real estate professionals adhere to a code of ethics and must follow the law at both the provincial and federal levels.

As Toronto REALTORS® we operate under an organized system called the MLS or the Multiple Listing Service.  That means that when a Seller retains a licensed realtor to sell their condo or house, the Seller’s agent posts the listing on the MLS database.  It indicates to all real estate agents in Toronto that this property is for sale and that they will co-operate with other real estate agents from other real estate companies if they bring a buyer to the property.   If it results in the sale of the property, the buyer’s agent is compensated through the listing broker for commission.

For the consumer, this eliminates the need to go from agent to agent or from brokerage to brokerage to see what listings they have because all that info is shared in one place on the MLS database.  As real estate agents we are all looking at the same database of information on the MLS.  It is also beneficial for Sellers as their property is exposed to over 40,000 agents in the Greater Toronto Area as opposed to have it only sold exclusively through one real estate company or brokerage.

The Toronto real estate market moves quickly with good properties selling right away on the MLS. To help you stay ahead of the market, a Buyer’s agent can set up a customized home search for you and send you new property listings from the MLS as soon as they come up for sale. Retaining an agent to help you in the buying of your Toronto home or condo does not cost you anything as their commission is paid by the Seller through the Listing Brokerage.

Obviously buying a Toronto home or condo is not just about having an agent send you listings.  A good real estate agent has many years experience in the Toronto neighbourhoods you are considering and can help you analyze the info so you can make a well informed purchase that will appreciate over time.

Have Questions About Buying Real Estate In Toronto? Contact Me

Living Outside Of Canada & Thinking Of Buying Real Estate In Toronto Foreign Buyer's GuideVictoria Boscariol is a real estate agent in Toronto Canada with Chestnut Park Real Estate Limited Brokerage. With over 20 years experience, Victoria has been helping people successfully buy and sell condos and houses in Yorkville and downtown Toronto. As a Certified International Property Specialist (CIPS) she has worked with Buyers from around the world moving to Toronto from China, Russia, Brazil, India, South Africa, United Arab Emirates, Jordan, Cyprus, Italy, Germany, The United Kingdom, Australia and the United States.
Your Passport To The Perfect Property In Toronto


Foreign Buyers Guide To Purchasing Real Estate In Toronto
 

Requirements For Foreign Buyers Of Toronto Real Estate …What You Need To Know Before You Begin Your Property Search

Canadian Banks, Funds & Financing For Foreign Buyers Of Toronto Real Estate

Taxes And Foreign Buyers Of Toronto Real Estate

Going From Buyer To Toronto Property Owner – The Real Estate Transaction Process In Toronto

Closing Costs For Foreign Buyers Of Toronto Real Estate

Selecting And Working With A Real Estate Lawyer When Buying Property In Toronto Canada 

Understanding The Paperwork..Important Elements of The Agreement Of Purchase & Sale When Buying A Toronto House Or Condo

How To Make An Offer & Negotiate The Purchase Of A Toronto Home Or Condo 

Real Estate Prices Around The World & Why Buying A Toronto Condo Is A Shrewd Investment

Urban Dictionary Of Real Estate Words, Terms & Meanings Unique To Toronto Canada

How Canadian Banks Can Keep You Out Of Trouble. The Ultimate Guide To Understanding Funds & Financing For Foreign Buyers Of Toronto Real Estate

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Foreign Buyers Of Toronto Real Estate Canadian Banks Funds & Financing Live outside Canada and thinking about buying a house or condo in Toronto? You do not need to be a Canadian citizen to own property in Toronto. As a non-resident of Canada there are no restrictions on foreign ownership of Toronto real estate.

Where To Start – Be Prepared

Your first step should be to get the money you are going to use for your home purchase into a Canadian bank account.

The Toronto real estate market is fast paced with properties selling quickly. For peace of mind be prepared by having the funds in Canada and ready to go. Sudden fluctuations in currency exchange rates and delays in money transferring from foreign countries can negatively affect the outcome of your home purchase.

When making an offer to purchase property in Toronto you will be required to present a deposit of 5%-10% of the purchase price in the form of a certified cheque, bank draft or money order in Canadian funds from a Canadian bank.

If you are applying for a mortgage this becomes even more crucial to have the funds seasoned here in Canada. As a foreign buyer it is possible to obtain a mortgage on up to 65% of the value of the property. This means you would need a down payment of 35% or more. In order to qualify the lender will want to see income tax returns so they can verify your ability to carry a mortgage.

Retaining a mortgage broker to assist you in the financing of your Toronto property can save you time and money. These licensed mortgage specialists have access to many Canadian banks and can negotiate the lowest rate for you. This eliminates the need for you to go from bank to bank to get their best rate. Because of the quantity of mortgages they deal in they get volume discounts and those savings are passed onto you. It does not cost you anything to get your own mortgage broker as their fee is paid by the lender. You can find a good mortgage specialist through your real estate agent.

Canada is known for having the safest banking systems in the world and as a non-resident one can easily open a Canadian bank account through a personal visit to the bank branch and providing applicable photo identification.

Have Questions About Buying Real Estate In Toronto? Contact Me

Living Outside Of Canada & Thinking Of Buying Real Estate In Toronto Foreign Buyer's GuideVictoria Boscariol is a real estate agent in Toronto Canada with Chestnut Park Real Estate Limited Brokerage. With over 20 years experience, Victoria has been helping people successfully buy and sell condos and houses in Yorkville and downtown Toronto. As a Certified International Property Specialist (CIPS) she has worked with Buyers from around the world moving to Toronto from China, Russia, Brazil, India, South Africa, United Arab Emirates, Jordan, Cyprus, Italy, Germany, The United Kingdom, Australia and the United States.
Your Passport To The Perfect Property In Toronto


Foreign Buyers Guide To Purchasing Real Estate In Toronto
 

Requirements For Foreign Buyers Of Toronto Real Estate …What You Need To Know Before You Begin Your Property Search

Taxes And Foreign Buyers Of Toronto Real Estate

How The Real Estate Market Works In Toronto Canada 

Going From Buyer To Toronto Property Owner – The Real Estate Transaction Process In Toronto

Closing Costs For Foreign Buyers Of Toronto Real Estate

Selecting And Working With A Real Estate Lawyer When Buying Property In Toronto Canada 

Understanding The Paperwork..Important Elements of The Agreement Of Purchase & Sale When Buying A Toronto House Or Condo

How To Make An Offer & Negotiate The Purchase Of A Toronto Home Or Condo 

Real Estate Prices Around The World & Why Buying A Toronto Condo Is A Shrewd Investment

Urban Dictionary Of Real Estate Words, Terms & Meanings Unique To Toronto Canada

The Quickest & Easiest Way For Foreign Buyers To Purchase Real Estate In Toronto Canada

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Requirements For Foreign Buyers Of Toronto Real Estate
What You Need To Know Before You Begin Your Property Search

Toronto Skyline Victoria Boscariol Chestnut Park Real Estate

The first step to buying a property in Toronto as a foreign buyer is to be prepared by having a team of experienced professionals lined up to assist you.  One of the benefits of working with a real estate agent that is a Certified International Property Specialist is that she has the experience to assemble this team of trusted advisers that you will require ensuring your home buying process goes smoothly and easily.

Seek advice from a Canadian tax accountant. 
While there are no additional taxes or restrictions for foreign buyers purchasing real estate in Toronto there tax implications for foreign owners when they sell property in Toronto.  A foreign seller may be subject to a non-resident withholding tax of 25% on the sale price of the property.  Further details can be found on the Canada Revenue Agency website.  Consult with your own Canadian tax accountant to fully understand the Canadian tax rules and implications of selling a property in Toronto as a foreign owner.

Meet with a Canadian bank manager and open a Canadian bank account.
The Toronto real estate market is fast paced with properties selling quickly. For peace of mind be prepared by having the funds in Canada and ready to go.  Sudden fluctuations in currency exchange rates and delays in money transferring from foreign countries can negatively affect the outcome of your home purchase.

When making an offer to purchase property in Toronto you will be required to present a deposit of 5%-10% of the purchase price in the form of a certified cheque, bank draft or money order in Canadian funds from a Canadian bank.

Canada is known for having the safest banking systems in the world and as a non-resident one can easily open a Canadian bank account by making a personal visit to the bank branch and providing applicable photo identification.

Hire a mortgage broker.

As a foreign buyer it is possible to obtain a mortgage on up to 65% of the value of the property.  In order to qualify the lender will want to see income tax returns so they can verify your ability to carry a mortgage. Retaining a mortgage broker to assist you in the financing of your Toronto property can save you time and money.  These licensed mortgage specialists have access to many Canadian banks and can negotiate the lowest rate for you.  This eliminates the need for you to go from bank to bank to get their best rate.  Because of the quantity of mortgages they deal in they get volume discounts and those savings are passed onto you. You can find a good mortgage specialist through your real estate agent.

Select a real estate lawyer.
You will need a lawyer when buying property in Toronto to process the real estate transaction.  Normally they do not get involved in the buying process until the property has been secured through the Agreement of Purchase and Sale.  The lawyer then reviews the terms of the Agreement, ensures the Buyer’s funds for the sale are paid to the Seller and registers the Buyer as the new owner on title.

Decide on a home inspector.
If you are purchasing a home, your realtor can provide you with names of good home inspectors.  A home inspection can indicate if something in the house is not working properly, needs to be fixed or replaced or is unsafe.

Have an Insurance Broker lined up to provide you with property insurance.

In order to protect your real estate investment against risks such as fire or theft you will need to have property insurance.  This is obtained through an insurance broker.

Be prepared by having these professionals lined up before placing and offer.  These specialists should be “waiting in the wings” ready for their time to act on your behalf.

Have Questions About Buying Real Estate In Toronto? Contact Me

Living Outside Of Canada & Thinking Of Buying Real Estate In Toronto Foreign Buyer's GuideVictoria Boscariol is a real estate agent in Toronto Canada with Chestnut Park Real Estate Limited Brokerage. With over 20 years experience, Victoria has been helping people successfully buy and sell condos and houses in Yorkville and downtown Toronto. As a Certified International Property Specialist (CIPS) she has worked with Buyers from around the world moving to Toronto from China, Russia, Brazil, India, South Africa, United Arab Emirates, Jordan, Cyprus, Italy, Germany, The United Kingdom, Australia and the United States.
Your Passport To The Perfect Property In Toronto

Foreign Buyers Guide To Purchasing Real Estate In Toronto 

Canadian Banks, Funds & Financing For Foreign Buyers Of Toronto Real Estate

Taxes And Foreign Buyers Of Toronto Real Estate

How The Real Estate Market Works In Toronto Canada 

Going From Buyer To Toronto Property Owner – The Real Estate Transaction Process In Toronto

Closing Costs For Foreign Buyers Of Toronto Real Estate

Selecting And Working With A Real Estate Lawyer When Buying Property In Toronto Canada 

Understanding The Paperwork..Important Elements of The Agreement Of Purchase & Sale When Buying A Toronto House Or Condo

How To Make An Offer & Negotiate The Purchase Of A Toronto Home Or Condo 

Real Estate Prices Around The World & Why Buying A Toronto Condo Is A Shrewd Investment

Urban Dictionary Of Real Estate Words, Terms & Meanings Unique To Toronto Canada

Cracking The Code To Real Estate Prices Around The World Why Buying A Condo In Toronto Is A Shrewd Investment

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What it costs to buy an apartment in major cities around the world. Comparing price per square foot for condo apartments located in the downtown core of the world’s premier cities.

Real Estate Prices Around The World Price Per Square Foot Comparison Of Condo Apartments In The World's Premier Cities Victoria Boscariol Chestnut Park Real Estate

 Source Numbeo

CityPrice/Square Foot USDPrice/Square Foot CAD
London, United Kingdom$2,431$3,360
Hong Kong$2,381$3,291
Tokyo, Japan$1,840$2,543
New York City, United States$1,684$2,286
Geneva, Switzerland$1,300$1,797
San Francisco, United States$1,198$1,656
Shanghai, China$1,122$1,551
Paris, France$1,013$1,401
Sydney, Australia$855$1,181
Rome, Italy$853$1,178
Los Angeles, United States$712$984
Boston, United States$683$944
Mumbai, India$660 $912
Vancouver, Canada$539$745
Seattle, United States$506$700
Frankfurt, Germany$503$695
Toronto, Canada$486$672

As compared to other major cities around the world, Toronto condo prices are still affordable for many.

Currently one Canadian dollar is worth less than .75 cents US. The lower Canadian dollar against the US dollar translates into greater purchasing power for foreign buyers with capital in US funds.

Toronto All The Software Of Manhattan Without The Hard Drive

Canada is a country known for its political and economic stability.  As Canada’s largest city, Toronto is the financial centre for the country.

In 2015, The Economist ranked Toronto as the best city in the world to live.  Toronto also ranks 8th as the safest city in the world.

The University Of Toronto is ranked the top university in Canada and 16th in the world.

Foreign Buyer's Guide To Purchasing Toronto Real Estate Victoria Boscariol Chestnut Park Real EstateVictoria Boscariol is a real estate agent in Toronto Canada with Chestnut Park Real Estate Limited Brokerage. With over 20 years experience, Victoria has been helping people successfully buy and sell condos and houses in Yorkville and downtown Toronto. As a Certified International Property Specialist (CIPS) she has worked with Buyers from around the world moving to Toronto from China, Russia, Brazil, India, South Africa, United Arab Emirates, Jordan, Cyprus, Italy, Germany, The United Kingdom, Australia and the United States.
Your Passport To The Perfect Property In Toronto

Have Questions About Buying Real Estate In Toronto? Contact Me

Foreign Buyers Guide To Purchasing Real Estate In Toronto 

Requirements For Foreign Buyers Of Toronto Real Estate …What You Need To Know Before You Begin Your Property Search

Canadian Banks, Funds & Financing For Foreign Buyers Of Toronto Real Estate

How The Real Estate Market Works In Toronto Canada 

Taxes And Foreign Buyers Of Toronto Real Estate

Going From Buyer To Toronto Property Owner – The Real Estate Transaction Process In Toronto

Closing Costs For Foreign Buyers Of Toronto Real Estate

Selecting And Working With A Real Estate Lawyer When Buying Property In Toronto Canada 

Understanding The Paperwork..Important Elements of The Agreement Of Purchase & Sale When Buying A Toronto House Or Condo

How To Make An Offer & Negotiate The Purchase Of A Toronto Home Or Condo 
 
Urban Dictionary Of Real Estate Words, Terms & Meanings Unique To Toronto Canada

 

Yorkville Toronto Condo Prices Up 13.4% From Last Year

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2015 Yorkville Toronto Condo Market Recap Report Sold Prices Per Square Foot & 2016 Sales Forecast

2015 Yorkville Toronto Condos Sales Victoria Boscariol Chestnut Park Real Estate

Yorkville’s Resale Condo Market roared in 2015 with higher prices and more suites sold as compared to a year ago.

  • The average sale price for a Yorkville condo rose to $1,371,728 up 13.4% from last year.
  • The average sold price per square foot also edged higher to $827 from $798 in 2014.
  • 266 Yorkville condo units sold in 2015, an increase of 18% more than in the previous year.
  • It took an average of 56 days on market to sell a Yorkville condo in 2015, 11 days longer than in 2014.
2015 Yorkville Condo Sales  
Type Of Condo UnitAverage Sold Price
Per Square Foot
Average Sold Price
1 Bedroom Condo$780$495,732
1 Bedroom Plus Den Condo$707$603,238
2 Bedroom Condo$858$1,200,914
2 Bedroom Plus Den Condo$972$1,913,401
3 Bedroom Or Larger Condo$808$3,201,944

Yorkville’s Luxury Condo Market
Suites Sold Over $2 Million In 2015

  • The average sold price for a luxury condo in 2015 was $3,217,790 up 9% from last year.
  • The average sold price per square foot for a luxury resale condo in 2015 was $1156 up slightly from $1148 in 2014.
  • 43 luxury condo units sold over $2M in 2015 up 30% from the previous year.
  • The bulk of these luxury sales took place at the Four Seasons Private Residences 50 Yorkville Ave.
2015 Yorkville Luxury Condo Sales 
Yorkville Luxury Condo Building Name & Address# of Luxury Units Sold
Over $2.0M In 2015
Four Seasons Private Residences 50 Yorkville Ave8
1 St. Thomas Street7
The Florian 88 Davenport Rd5
The Prince Arthur 38 Avenue Rd4
The Hazelton 118 Yorkville Ave3
Four Seasons Private Residences 55 Scollard St3
155 Cumberland St2
  • It took 79 days to sell a Yorkville luxury condo, only slightly longer than in 2014 when it took 75 days.

Ultra Luxury Suites Sales Over $5 Million In Yorkville
3 luxury units sold over the $5M mark as compared to in 2014 when only 1 unit sold over $5 million.


What’s In Store For The Yorkville Condo Market In 2016

Several new condo buildings will be completed and are expected to register adding roughly another 1545 units to the neighbourhood:

One Bloor 1 Bloor St East – 732 units

181 Davenport Rd – 110 units

Exhibit Condos 200 Bloor St West – 200 units

277 Davenport Rd – 10 units

Yorkville Plaza 155 Yorkville Ave (old Four Seasons Hotel Tower) – 493 units

See more of the latest SOLD PRICES and SOLD STATS for Yorkville Condos Toronto

See the latest Sales for Yorkville Toronto Condos by Building Address

Thinking Of Selling Your Yorkville Luxury Condo?  Contact Victoria

See MLS LISTINGS for Yorkville Toronto condos

Moving To Yorkville? Find Out More About The Toronto Neighbourhood Where Uptown Meets Downtown

Buying A Yorkville Toronto Condo? What you need to know before you buy in Yorkville

Renting Vs Buying A Yorkville Toronto Condo. Which is the better option?

See the most comprehensive GUIDE to Yorkville Toronto Condos

See Yorkville Toronto Condos Luxury Boutique Buildings of under 50 Suites

See Yorkville Toronto Condos Pet Friendly Buildings

See Yorkville Toronto Condo Buildings With 3 Bedroom Suites

See the latest Yorkville Toronto New Condos Under Construction

See the latest Yorkville Toronto Pre Construction Condos

See the latest condo projects Planned & Proposed for Yorkville Toronto

See the latest news on Yorkville Toronto Condos New Releases

Investing in New & Pre-construction Condos in Yorkville & Downtown Toronto?
How to get the Maximum Return On Investment

Buying a NEW CONSTRUCTION condo in Yorkville? What you need to know BEFORE you visit the sales office

Toronto Condo Checklist What you need to ask BEFORE you buy

Read about buying a condo in Toronto and TAXES that may apply

The History of the Village of Yorkville

See Yorkville Toronto Schools & Daycares with Quality Rankings & Reviews

Questions about Yorkville Toronto condos?

Thinking Of Selling Your Yorkville Luxury Condo?  Contact Victoria

There is always a healthy supply of condominium units available for sale in the Yorkville area. However, the best suites, the units with the great floor plans, clear views and in the good buildings sell right away. Top valued condos sell within days and if you want the opportunity …

How To Speak Torontonian Urban Dictionary Of Words & Real Estate Terms Unique To Toronto & Canada

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Foreign Buyer's Guide To Purchasing Toronto Real Estate Victoria Boscariol Chestnut Park Real Estate

 

Bachelor apartment – also known as a studio apartment or efficiency is a unit that has no separate bedroom

Cheque – exactly the same as a check, a written order directing a bank to pay out money

Chesterfield – couch or sofa

College – refers to community college in Canada.  This is distinct from a university, which is a post-secondary institution that grants a degree.

Cottage – summer vacation home, camp or cabin on a body of water

Duplex – refers to a house divided into 2 separate apartments each having its own entrance

Eavestroughs – the rain gutters that attach to the underside of the roof of a house

Elfs – electric light fixtures

FAG – refers to a forced air gas furnace heated by natural gas it pushes out hot air

Garburator – garbage disposal unit under the kitchen sink

Humidex – measurement used by meteorologists to measure the combination of heat and humidity in the air

Hydro – refers to electricity as in most electricity comes from hydroelectric power

Johnny on the spot – porta potty or portable toilet often seen on construction sites Canadian Dollar The Loonie Victoria Boscariol Chestnut Park Real Estate Toronto

Klick – slang for kilometre 

Loonie – the Canadian one dollar coin features the national bird on it, the loon.  A twoonie or toonie is the two dollar coin

Penthouse – the suite on the top floor of a condo building with the sub-penthouse or lower penthouse referring to one floor below the penthouse level

Postal code – the Canadian version of the British postcode or the American zip code

Snowbirds – retired people or seniors who head to the southern United States for the winter and return to Canada in the summer

Solarium – a den or a room in a condo apartment that does not have a closet

Square feet – officially Canada uses the metric system of measurement however the Toronto real estate industry uses square feet rather than square metres when referring to measurement of space and rooms in condos and houses.  

The GTA – The Greater Toronto Area is made up of not only the City of Toronto but is also comprised of the surrounding areas including Oakville, Mississauga, Brampton, Markham, King, Pickering and Ajax. 

Washroom – bathroom, loo or restroom

905 – the area code for just outside Toronto often used to describe the suburbs of the GTA

Some Nicknames For Toronto

Hogtown – Toronto was home to one of Canada’s earliest meat packers

Hollywood North – lots of movies and television shows are shot in Toronto as it is often a stand in for New York City, Chicago and Washington DC

The 6ix or The Six – popularized by the rapper Drake refers to the Toronto area codes 416 and 647

YYZ – airport identification code for Toronto Pearson International Airport

Some Nicknames For Toronto Landmarks Michael Lee-Chin Crystal Royal Ontario Museum ROM Toronto Victoria Boscariol Chestnut Park Real EState

Av & Dav – the intersection of Avenue Rd and Davenport known for its row of flower markets

The 5 Thieves – the term used affectionately by locals to describe the upscale gourmet food stores on Yonge St south of Summerhill that includes a butcher, green grocer and fish market

The Hangar – the Air Canada Centre, home to the Toronto Raptors (basketball) and Toronto Maple Leafs (hockey)

The Mink Mile – the stretch of Bloor St West between Yonge and Avenue Road where all the designer luxury brands have their flagship stores

The ROM – the Royal Ontario Museum 

Have Questions About Buying Real Estate In Toronto? Contact Me

Living Outside Of Canada & Thinking Of Buying Real Estate In Toronto Foreign Buyer's GuideVictoria Boscariol is a real estate agent in Toronto Canada with Chestnut Park Real Estate Limited Brokerage. With over 20 years experience, Victoria has been helping people successfully buy and sell condos and houses in Yorkville and downtown Toronto. As a Certified International Property Specialist (CIPS) she has worked with Buyers from around the world moving to Toronto from China, Russia, Brazil, India, South Africa, United Arab Emirates, Jordan, Cyprus, Italy, Germany, The United Kingdom, Australia and the United States.
Your Passport To The Perfect Property

How The Real Estate Market Works In Toronto Canada 

Foreign Buyers Guide To Purchasing Real Estate In Toronto 

Requirements For Foreign Buyers Of Toronto Real Estate …What You Need To Know Before You Begin Your Property Search

Canadian Banks, Funds & Financing For Foreign Buyers Of Toronto Real Estate

Taxes And Foreign Buyers Of Toronto Real Estate

Going From Buyer To Toronto Property Owner – The Real Estate Transaction Process In Toronto

Closing Costs For Foreign Buyers Of Toronto Real Estate

Selecting And Working With A Real Estate Lawyer When Buying Property In Toronto Canada 

Understanding The Paperwork..Important Elements of The Agreement Of Purchase & Sale When Buying A Toronto House Or Condo

How To Make Make An Offer & Negotiate The Purchase Of A Toronto Home Or Condo