Real Estate

Ottawa firm said its funds from operations rose nearly 18 per cent compared with the first quarter of 2021, while its same-property occupancy rate jumped almost five percentage points.

As the capital’s million-dollar market continues to boom, luxury real estate firms like Engel & Völkers are being kept busy

Ottawa-based REIT's overall revenue grew 8.4 per cent year-over-year to $32.5 million as the occupancy rate of its unfurnished suites ticked up to 94.2 per cent from 91.1 per cent in the same period.

A total of 1,889 residential properties changed hands in April, the Ottawa Real Estate Board says, a 21 per cent decline from a year earlier and just above the five-year average of 1,849.

Builders began work on more than 10,000 new housing units in the capital last year – but that flurry of new construction still wasn’t enough to keep up with city's population growth, agency says.

Cutsey, InterRent's president since 2015, is taking over as chief executive from Mike McGahan, who’s stepping aside after 12 years at the helm.

OakWood Designers and Builders makes the leap into cryptocurrency, accepting Bitcoin for home renovation and property purchases.

One prominent retail analyst says the move could pave the way for a new wave of residential development at the site, which includes about 170,000 square feet of commercial space.

As Ottawa’s housing market continues to break records, local broker Danny Dawson has hit a number of his own real estate milestones that are worth celebrating. 

Rising interest rates and job uncertainty will combine to cool down Ottawa’s red-hot home resale market a few degrees in 2022 – but not enough to put the brakes on price hikes, agency says.