Real Estate

Prices in Ottawa's housing market continued to climb throughout 2021, resulting in sharp year-over-year cost comparison.

Ottawa Real Estate Board president Penny Torontow said “unrelenting high demand” for housing is driving up prices despite the bump in supply. 

Coming off a record year in 2021, local sector will continue to benefit from attractive cap rates, solid market fundamentals and a backlog of capital, firm says in its latest outlook.

Housing experts say prospective homebuyers hoping Wednesday's interest rate hike will cool the country’s heated real estate market will likely be disappointed.

The country's hot housing market drove economic expansion last year as the economy grew 4.6 per cent in 2021, Statistics Canada said Tuesday.

Katasa Group recently filed an application with the city to build a nine-storey residential project at 1509 Merivale Rd., just south of the intersection of Clyde Avenue.

Toronto firm says it has purchased a one-acre site at 1209 St. Laurent Blvd., across from the St. Laurent Shopping Centre, as well as property at 1047 Richmond Rd., near Carlingwood Shopping Centre.

Deal comes just a few months after company purchased a 50 per cent stake in the downtown Place de Ville office complex.

While a “considerable number” of new units were added to the city’s rental housing stock last year, the agency said demand rose enough to keep the vacancy rate unchanged.

Rimap Development's proposal calls for about 270 rental units and 230 hotel rooms on prime piece of downtown real estate just south of the Lyon LRT station.