Toronto rental prices fall, as condo listings surged nearly 114% this summer – Toronto

TORONTO — The Toronto Regional Real Estate Board says rental listings more than doubled in the third quarter, as investors pulled their condos from platforms such as Airbnb and put them onto the traditional rental market instead.

TRREB says there was a nearly 114-per cent surge in the number of condos listed for rent in Toronto this summer, driving down rents for units of all sizes.

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Toronto home sales surged 42% to set new September record

Board President Lisa Patel says the growing pool of condos on the market led to more choice and negotiating power for renters this summer.

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Toronto Regional Real Estate Board Releases Q3 Rental Market Report

TORONTO, Oct. 23, 2020 (GLOBE NEWSWIRE) — Toronto Regional Real Estate Board President Lisa Patel announced that Greater Toronto Area REALTORS® reported 14,036 condominium apartment rentals through TRREB’s MLS® System during the third quarter 2020. This was an increase of 30.2 per cent over Q3 2019.

The number of condominium apartments listed for rent at some point during Q3 2020 was up by 113.9 per cent compared to Q3 2019.

“Demand for condo rentals was very strong in the third quarter, with a record number of quarterly transactions reported. However, during the same period, the number of units listed more than doubled compared to last year. Many investor-owners took their units out of the short-term rental market, due to stricter regulations and the COVID-19-related tourism downturn, and made them available in the traditional rental marketplace. The result was more choice and more negotiating power for renters,” said Ms. Patel.

The

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SkyRun Vacation Rentals – Park City & Deer Valley Now Offers Luxury and Premium Rental Properties on Homes & Villas by Marriott International

Press release content from PR Newswire. The AP news staff was not involved in its creation.

BOULDER, Colo., Oct. 22, 2020 /PRNewswire/ — SkyRun Vacation Rentals today announced that select rental properties in Park City and Deer Valley, Utah are now available on Homes & Villas by Marriott International. The premium home rental offering provides guests, including more than 140 million members of its travel program Marriott Bonvoy, extraordinary options to choose from when booking travel from among its 30 hotel brands and more than 10,000 home rental properties.

These new homes are situated in former mining town Park City, which is nestled in the Wasatch Range east of Salt Lake City, and luxurious Deer Valley, which is known for its famous corduroy groomed slopes, fine dining restaurants, and shopping at swanky Main Street. The homes feature luxury living spaces, exceptional views, and sought-after locations for

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Tech vets launch Seattle real estate startup to crowdfund rental home investing



a group of people posing for the camera: The Arrived team, from left, CEO and co-founder Ryan Frazier, CTO and co-founder Kenny Cason, CFO Joel Mezistrano, and COO and co-founder Alejandro Chouza. (Arrived Photo)


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The Arrived team, from left, CEO and co-founder Ryan Frazier, CTO and co-founder Kenny Cason, CFO Joel Mezistrano, and COO and co-founder Alejandro Chouza. (Arrived Photo)

Another tech-fueled real estate startup has arrived on the scene in Seattle.

Arrived Homes is a crowdfunding platform that allows anyone to purchase shares of rental properties and earn a passive income while the company handles everything from property acquisition to necessary improvements and management of daily operations.

The startup was co-founded by a trio of tech veterans, including CEO Ryan Frazier, formerly of Simply Measured and Sprout Social; CTO Kenny Cason, also from Simply Measured; and COO Alejandro Chouza, who headed up offices for Oyo and Uber. Real estate vet Joel Mezistrano is also part of the team as CFO.

The company got off the ground more than a year ago, but is announcing for the first time this

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Sky Residences swaps highrise Edmonton condos for luxury rental suites

Condos originally slated for the upper floors of Stantec Tower are being converted into luxury rental suites in Edmonton’s downtown because of the COVID-19 pandemic.



a living room filled with furniture and a large window: A residential unit at the SKY Residences in Stantec Tower which will now be available for rent mainly due to the economic climate created by the COVID-19 pandemic. The downtown Edmonton luxury suites are located in the Ice District across the street from Rogers Place. The Stantec Tower is western Canada's tallest building.


© Provided by Edmonton Journal
A residential unit at the SKY Residences in Stantec Tower which will now be available for rent mainly due to the economic climate created by the COVID-19 pandemic. The downtown Edmonton luxury suites are located in the Ice District across the street from Rogers Place. The Stantec Tower is western Canada’s tallest building.

Sky Residences at Ice District announced 168 rental units on floors 31 to 42 will be available starting on Tuesday. The 66-floor tower, Canada’s tallest building outside of Toronto, originally intended to offer roughly 484 condo units with prices ranging between $300,000 to $700,000. Some of the more spacious condos jumped to more than $1 million in price.

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Tim Shipton, senior vice president of communications

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Sky Residences swaps Edmonton condos for luxury rental suites

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Shipton said there will be rental options with long- and short-term leases.

“We also think this creates a very nice path to purchase, in particular, for young professionals,” he said. “You rent here in Sky Signature Suites, you get climatized to the lifestyle and then you can transition into a condo later on.”

Stantec residents will also have access to the amenities at the neighbouring JW Marriott, a rooftop terrace, an infrared sauna, a fitness facility and a golf simulator.

A residential unit at the SKY Residences in Stantec Tower. which will now be available for rent, mainly due to the economic climate created by the COVID-19 pandemic. The downtown Edmonton luxury suites are located in the Ice District across the street from Rogers Place. The Stantec Tower is western Canada's tallest building. (Photo by Larry Wong/Postmedia)
A residential unit at the Sky Residences in Stantec Tower, which will now be available for rent, mainly due to the economic climate created by the COVID-19 pandemic. The downtown Edmonton luxury suites are located in the Ice District across the street from Rogers Place. The Stantec Tower is Western Canada’s tallest building. Photo by Larry Wong /Postmedia

Housing market recovering

Edmonton’s housing market has been

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Rental supply surges in Madrid and Barcelona as pandemic shakes up property market

MADRID, Oct 19 (Reuters) – The number of flats for rent has soared 115% in Madrid and 92% in Barcelona since March, one of Spain’s largest property portals, Idealista, said on Monday, as tourists vanished from the city centres and some local residents followed suit.

Nationwide, the number of flats advertised for rent soared 63% between March and September, an Idealista spokesman said, as general uncertainty delays people’s decisions and flats left empty during the spring lockdown finally hit the market.

Homes used for short-term holiday rentals had already flooded Spain’s residential market within weeks of the country’s first lockdown in March.

A second influx of properties has followed as locals faced with dwindling income or the possibility of remote work return to their home towns, opt for cheaper flats shared with more people, or move back in with their families, according to several real estate agents interviewed by Reuters.

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New Mixed Income Rental Homes Coming to Pineridge

CALGARY, AB, Oct. 16, 2020 /CNW/ – Every Canadian deserves a safe and affordable place to call home. That is why the Governments of Canada is supporting Horizon Housing as they break ground on the Pineridge development, which will soon provide Calgarians with access to more stable rental housing options that are affordable to the middle-class.

Today, the Honourable Ahmed Hussen, Minister of Families, Children and Social Development and Minister responsible for Canada Mortgage and Housing Corporation (CMHC), announced the ground breaking of 65 new homes in Calgary’s northeast community of Pineridge. This ground breaking celebrates the start of construction which will create homes for over 120 people when the mixed income development is completed late 2021.

This project by Horizon Housing is receiving financing of just over $15 million dollars through CMHC’s Rental Construction Financing initiative (RCFi), a National Housing Strategy program delivered by Canada Mortgage and Housing

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John Lewis to build rental homes at 20 of its UK sites

John Lewis is to become a major landlord, aiming to build rental homes at 20 of its sites around the UK as part of a strategy to rebuild profits to £400m within five years.



a living room filled with furniture and a fireplace: Photograph: British Retail Photography/Alamy


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Photograph: British Retail Photography/Alamy

The retailer, which also owns Waitrose, said the new homes could be built above or beside stores or on other land it owns, and would be furnished with products from John Lewis department stores. Residents would also be able to order food deliveries from Waitrose supermarkets. It is aiming to make planning applications for two sites in Greater London in the new year.

“We’re a landlord already at three of our properties, so this is an obvious extension for us. And we’re now talking to developers and investors who can help us achieve our ambitions,” the company said.

It is launching a new strategy under the chairman,

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John Lewis to build rental homes and launch savings accounts

File photo dated 16/01/12 showing the John Lewis store in London. The John Lewis Partnership (JLP) is to reveal the full impact of the mass closure of its department stores as partners will also eagerly await updates regarding its ongoing strategic review.
John Lewis plans to move ‘beyond retail.’ Photo: PA

John Lewis has set out a five-year plan to move “beyond retail,” including building homes for rent and offering new savings and insurance products.

The leading department store announced it would invest £400m ($518m) in new areas, and aim to make 40% of its profits from them by 2030. It is aiming for profits to reach £200m a year within the next two years, according to the plan published by John Lewis on Friday.

The new areas Britain’s biggest employee-owned business will expand in include:

  • Ramping up Waitrose’s delivery capacity from 55,000 orders a week before the pandemic to 250,000, with more partnerships like its current trial with Deliveroo, Another 25 Waitrose stores will now join the trial with the delivery company.

  • Working with developers to build new homes on up to 20 sites already owned by the partnership to provide

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