Tag: market research

• Some 60,000 condominium units were purchased last year in Toronto

  So 2021 was a pretty good year for condominiums here in the Greater Toronto Area. According to the latest data (Q4-2021) from Urbanation, this is what happened last year:

  • 30,844 new condominium sales. This is a 69% increase compared to 2020, which saw 18,282 new unit sales.
  • Fourth quarter alone saw 8,361 unit sales, which is the best quarter on record according to Urbanation.
  • Unsold inventory dropped 26% year-over-year because sales exceeded the number of new project launches by over 4,000 units.
  • Average price for an unsold condominium unit in Q4-2021 reached $1,322 psf, which is an 18% increase compared to the year before.
  • Resale condominiums also did exceptionally well with 29,880 unit sales — a 49% annual increase.
  • All in all, some 60,000 condominium units were purchased last year in the GTA. Of course, some were ready to be lived in and some were future homes.

  2022.01.31

• Prime property appreciation around the world

  Every year for the last decade, Knight Frank has published something called The Wealth Report. I’ve written about it before, but it’s basically a look at “prime property” and global wealth.

  As part of the report, they have something called the PIRI 100. It’s their “Prime International Residential Index”, which looks at luxury residential property prices around the world. They generally define “prime property” as being the top 5% of each market according to value.

  This year, the top 25 locations in their PIRI 100 are as follows (for the most part, the data is up to December 2015):

  

  Here in Canada, we like to talk about the insanity of the Vancouver and Toronto real estate markets. This list helps to put that into perspective. Even by global standards, Vancouver is at the top of the pack by quite a significant margin. 

  It’s worth noting that since this is a “prime property” index, it’s pretty safe to assume that the buyer profiles for these sorts of properties would have a significant international bias. So in a way, this list is really about global capital flows.

  Here are the bottom 10 locations on this year’s list:

  

  If you’d like to see the full list, click here.

  2016.05.09

• Your thoughts on the real estate marketplace, please

  If you know me at all, then you’ll know that I’m a big proponent of introducing more technology into the real estate space. I think the industry is one that has been incredibly slow to embrace technology, but that it’s only a matter of time before it does.

  Two months ago I wrote a post talking about how entrepreneur and venture capitalist Keith Rabois is working on a home buying startup codenamed Homerun — now called Opendoor. Here’s how he recently described the state of affairs:

  “My friend [PayPal and Palantir cofounder] Peter Thiel suggested that I come up with an idea to innovate in residential real estate,” Rabois told VentureBeat in April. “It’s the largest part of the economy unaffected by the Internet. And that was definitely true then, and even with things like Trulia and Zillow, it’s fundamentally true today. But the process of [selling a home] hasn’t been transformed by technology.”

  What Opendoor is trying to do is really interesting, but I have a different idea. It’s called Unlyst. And today I’d like to ask the ATC community for a small favor. I’ve created a short home buying and selling survey (embedded below) that will take you at most 2 minutes to complete.

  If you could please take the time to do that, I would greatly appreciate it. I’ve made the results public as well, so you’ll be able to see how buyers and sellers currently feel about the real estate marketplace. If you can’t see the survey below, please click here. Thanks for your help!

  [googleapps domain=”docs” dir=”forms/d/1bKvHYdSUfYH3AGX7LcLIK0_-i7nt7WIdTmHeaJ8P7pY/viewform” query=”embedded=true” width=”760″ height=”500″ /]

  2014.06.30