{"id":255934,"date":"2026-01-24T21:05:27","date_gmt":"2026-01-24T21:05:27","guid":{"rendered":"https:\/\/www.newsbeep.com\/il\/255934\/"},"modified":"2026-01-24T21:05:27","modified_gmt":"2026-01-24T21:05:27","slug":"how-the-condo-market-might-recover-a-new-path-to-home-ownership-and-the-home-of-the-week-canadian-real-estate-news-for-the-week-of-jan-23","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/il\/255934\/","title":{"rendered":"How the condo market might recover, a new path to home ownership and the Home of the Week: Canadian real estate news for the week of Jan. 23"},"content":{"rendered":"

Open this photo in gallery:<\/a><\/p>\n

The Home of the Week is a lakefront cottage in Toronto.Alexander Rothe<\/p>\n

This week: A closer look at how Toronto\u2019s condo market could recover, and a new way Millennials are becoming home-owners. Plus, the best and worst renovations to maximize your home value and one property worth a look.<\/p>\n

Take our business and investing news quiz<\/a><\/p>\n

2026 predictionsWhat might a Toronto condo market recovery look like? Open this photo in gallery:<\/a><\/p>\n

The Florian 2 luxury condo project in Toronto\u2019s Yorkville neighbourhood will likely begin to be marketed this year, a rarity in the slumping condo industry.Sammy Kogan\/The Globe and Mail<\/p>\n

Looking at the condo market in the Greater Toronto and Hamilton Area, there isn\u2019t much to inspire confidence. A glut of newly-completed but unsold condos \u2013 whose prices are still in freefall \u2013 sit empty, and developers are cancelling, pausing or converting approved projects. The pre-construction buyers that fuelled the boom have dried up, and mom-and-pop investors have gone to ground. <\/p>\n

To get a glimpse of what the future may hold and where a recovery may be brewing, John Lorinc asked industry experts for their predictions on some core questions<\/a>: Where will we see the first new condo projects and will they be different? Can the industry\u2019s speculative financing model survive? And how long before the recovery gains traction? Here\u2019s what they had to say<\/a>.<\/p>\n

Buyer trendsMillennials are turning to prefabricated housing to become home-ownersOpen this photo in gallery:<\/a><\/p>\n

Maggie Chao and William Bowden opted for a pre-fabricated home to be able to afford a larger space in Vancouver.Tyler McLeod\/Tyler McLeod<\/p>\n

Younger home-buyers priced out of all but the smallest condos (which they seemingly don\u2019t want) are taking a new path to home ownership: prefabricated housing.<\/a> In Vancouver, Maggie Chao and William Bowden pivoted from the pricey condo market to building a laneway home when they saw how much more bang they could get for their buck. As Kerry Gold reports, the unconventional solution was possible because they had a location already \u2013 the backyard of Bowden\u2019s parents\u2019 home \u2013 and a trailblazing prefab builder, Smallworks, that helped them get a grant from the Canadian Mortgage and Housing Corporation. <\/p>\n

The timeline from breaking ground to moving into the 911-square-foot home was eight months, and cost about one-third the $2-million most first-time buyers in the city are paying for ground-oriented housing. Though not everyone has parents who can provide a place to build, Bowden says he\u2019s grateful he and Chao received family help. \u201cWe\u2019re very fortunate there,\u201d he said.<\/p>\n

This week\u2019s lowest fixed and variable mortgage rates in Canada<\/p>\n

Rates shown are the lowest available for each term\/type and category (insured vs. uninsured) as of market close on Thursday, Jan. 22<\/a>.<\/p>\n

Curb appealThe best (and worst) renovations to maximize your home value<\/p>\n

In a lagging housing market, curb appeal is becoming more important than ever. Sellers are turning to home renovations to distinguish their homes and get a good price as home values and sales drop, while buyers are looking for updated and move-in ready listings to feel like they\u2019re getting the most bang for their buck.<\/p>\n

But not all home renovations are created equal \u2013 and some could actually be a turnoff for would-be buyers. Sal Farooqui spoke with realtors and contractors about which home renovations will help maximize your home value, and which won\u2019t give you a good return on your investment. From kitchens to bathrooms and DIY jobs, here are the four best and worst changes to make before selling<\/a>.<\/p>\n

Design cornerA rental that feels entirely your own Open this photo in gallery:<\/a><\/p>\n

This Toronto loft proves classic design isn’t out of reach for renters.The Globe and Mail<\/p>\n

Interior designer Dimitri Chris\u2019s moody yet bright Toronto loft is proof you don\u2019t have to own your space to make it feel like home. He and his husband focused on low-cost, high impact solutions to make the 1,200-square-foot piece of a former bubblegum factory become more \u201cthem.\u201d Take a peek inside their space and how they made it happen.<\/a><\/p>\n

Home of the WeekA work-in-progress on a Lake Ontario beachOpen this photo in gallery:<\/a><\/p>\n

An incomplete waterfront cottage in Toronto’s West End is waiting for a buyer to put their own stamp on it.Alexander Rothe<\/p>\n

99 Lake Promenade, Toronto \u2013 Full gallery here<\/a><\/p>\n

This waterfront home in Toronto\u2019s west end is a glass-half-full kind of project. Completely rebuilt with energy-efficient net-zero construction techniques, the interior of the home is unfinished and waiting for a buyer to put their own stamp on the project. The cottage has close to 6,700 square feet of living space but abides by many of the same heritage restrictions as the smaller home that stood in its place for a century. And while there are no floors, fixtures or toilets that flush yet, it has good bones. A double-height foyer leaves room for a dramatic entrance and the open-concept great room\u2019s oversized windows overlook Lake Ontario and the private stony beach at the end of the yard. The property also offers a rare treat for those who like to be close to the water: a since-prohibited lakeside deck, which has been allowed to remain.<\/p>\n

1What is the asking price for the property? Take your guess.<\/p>\n

a. $6,999,000<\/p>\n

b. $7,199,000<\/p>\n

c. $7,899,000<\/p>\n

d. $8,299,000<\/p>\n

d. $8,299,000 is the current asking price.\n <\/p>\n","protected":false},"excerpt":{"rendered":"Open this photo in gallery: The Home of the Week is a lakefront cottage in Toronto.Alexander Rothe This…\n","protected":false},"author":2,"featured_media":255935,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[28436,697,694,695,696,114,184,85,46,3507,14093,135668,700,699],"class_list":{"0":"post-255934","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-ac-community","9":"tag-appwebview","10":"tag-aud-growth","11":"tag-aud-headline","12":"tag-aud-url","13":"tag-business","14":"tag-economy","15":"tag-il","16":"tag-israel","17":"tag-newnewsletter","18":"tag-noastack","19":"tag-realestate-roundup","20":"tag-yesapplenews","21":"tag-yessnap"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/255934","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=255934"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/255934\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/255935"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=255934"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=255934"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=255934"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}