Construction Maison

Most of Canada's rental markets have seen substantial rate hikes over the past year, with Toronto and Vancouver prices for one-bedroom units now heading for the $2,000 mark. And it's becoming decidedly difficult to rent an apartment in most major Canadian cities (and some minor ones) for under $1,000. For the first time ever, Padmapper's monthly survey of rental rates found that the median price for a one- bedroom apartment topped $1,000 in Canada's 10 priciest cities. The survey launched last June. Padmapper The Padmapper data shows the median price for a one- bedroom apartment in Vancouver is $1,990 this month, up 13.7 per cent in a year. Harder-to-find two-bedroom units were up 3.2 per cent, to $3,200. The city remains the priciest region to rent an apartment in Canada. Toronto has seen one- bedroom rents climb 8 .8 per cent in the past year, to $1,850. Two- bedroom units rose to $2,450, up 14 per cent in a year. Market experts say Toronto and Vancouver are...

NASTASSIA ARENDSE:  I’m sure you’ve seen, as you drive through the streets of Sandton, lots of buildings coming up, a lot of corporates moving into Sandton. I suppose this all started during the early 2000s, when the likes of Investec and Nedbank all moved in. But on the same side of that there are some high- rise luxury apartments that have piggybacked on this relocation of corporates into the area, which would in theory create demand from buyers who decided to live closer to work. We have Kent Gush, who is the managing director of Kent Gush Properties , on the line to talk about Sandton’s luxury- apartment demand . Ken, thank you so much for your time. KENT GUSH:   Good evening, Nastassia. Thank you for having me. NASTASSIA ARENDSE:  I see this all the time – some properties coming up around the corner, especially the luxury apartments . They look absolutely beautiful. But what I want to know is what the demand is like for these apartments at this current stage. KENT GUSH:   As i...