Canada’s Entrepreneur

The state of Canada’s Condo Market

RE/MAX Canada has released its 2024 RE/MAX Canada Condominium Report.

In this video interview, Samantha Villiard, Regional Vice President, RE/MAX Canada, discusses the key findings from the report.

PRESS RELEASE
TORONTO, Oct. 9, 2024 /CNW/ — Despite fears of leaving money on the table, sellers have returned to housing markets across the country in large numbers as the promise of future interest rate cuts draw skittish buyers back into the fray, according to a report released today by RE/MAX Canada.

The 2024 RE/MAX Canada Condominium Report examined condominium activity between January – August 2024 in seven major markets across the country including Greater Vancouver, Fraser Valley, City of Calgary, Edmonton, Greater Toronto, Ottawa and Halifax Regional Municipality, and found that condo listings have soared in anticipation of increased demand in the fourth quarter of 2024 and early 2025. Growth in inventory levels was highest in the Fraser Valley (58.7 per cent), followed by Greater Toronto (52.8 per cent), City of Calgary (52.4 per cent), Ottawa (44.5 per cent), Edmonton (17.7 per cent), Halifax Regional Municipality (8.1 per cent) and Vancouver (7.3 per cent). Values have held up surprisingly well given the influx of listings, with gains posted in Calgary (15 per cent), Edmonton (four per cent), Ottawa (2.3 per cent), Vancouver (1.9 per cent), Fraser Valley (1.9 per cent), and Halifax (1.2 per cent). Meanwhile in Greater Toronto, the average price fell two per cent short of year-ago. While sales were robust in Alberta thanks to in-migration from other parts of the country, Edmonton led the way in terms of percentage increase in the number of condos sold, up just close to 37 per cent from year-ago levels, marking the region’s best performance in the previous five-year period. This is followed by a more tempered Calgary market, which was up 2.6 per cent over 2023. Remaining markets saw home-buying activity soften in the condominium sector.

“High interest rates and stringent lending policies pummeled first-time buyers in recent years, preventing many from reaching their home-ownership goal, despite having to pay record high rental costs that mirrored mortgage payments,” says RE/MAX Canada President Christopher Alexander. “The current lull is the calm before the storm. Come spring of 2025, pent-up demand is expected to fuel stronger market activity, particularly at entry-level price points, as both first-time buyers and investors once again vie for affordable condominium product.”

SOURCE: Greater Vancouver REALTORS, Fraser Valley Real Estate Board, Calgary Real Estate Board, REALTORS Association of Edmonton, Toronto Regional Real Estate Board, Ottawa Real Estate Board, Nova Scotia Association of REALTORS. *Apartments Only **Estimated average price for Greater Vancouver

Edmonton and Calgary remain firmly entrenched in seller’s market territory, while conditions are more balanced in Greater Vancouver, Fraser Valley, Ottawa and Halifax. These markets will likely transition in 2025. Toronto may be the last to emerge from more sluggish conditions, however, Alexander notes that it’s a market that has been known to turn quickly. Absorption rates will be a key indicator. Certainly, the market forces of supply and demand always prevail, so some neighbourhoods will fare better than others. Of note in Toronto, prices have likely bottomed out and that’s usually evidence that a turnaround is in sight.

The current uptick in inventory levels is drawing more traffic to listings, yet buyers remain somewhat skittish across the country. The first two Bank of Canada interest rate cuts did little to entice prospective homebuyers to engage in the market, given the degree of rate increases that took place. However, with further rate reductions expected and policy adjustments to address affordability and ease entry into the market, activity will likely start to climb, particularly among end users.

“Even in softer markets, hot pockets tend to emerge,” says Alexander. “In the condominium segment we’re seeing a diverse mix among the most in-demand areas, ranging from traditional blue-chip communities to gentrifying up-and-comers, as well as suburban hot spots. Condominiums in choice recreational areas were among the markets posting stronger sales activity—a trend that was also reflected in our single-detached housing report issued earlier this year.”

In each market, there are condominium pockets that defied overall trends. In the Greater Toronto Area, condominium sales were up by double digits in the first eight months of 2024 in midtown communities such as Toronto Regional Real Estate Board (TRREB)’s Yonge-Eglinton, Humewood-Cedarvale, Forest Hill South (C03) where activity increased 25.3 per cent (114 condo sales in 2024 compared to 91 sales in 2023) and Bedford-Park-Nortown, Lawrence Park, and Forest Hill North (C04) rose 13.3 per cent (128/113). The west end’s High Park, South Parkdale, Swansea and Roncesvalles (W01) communities experienced a 15.7-per-cent upswing in units sold (206/178) while neighbouring W02 including High Park North, Junction, Lambton Baby Point, and Runnymede-Bloor West Village climbed 25.2 per cent (189/151). In the east end, the Beaches (E03) reported a 20.3-per-cent increase in sales activity.

In Greater Vancouver, an uptick in apartment sales was noted in suburban markets including Port Coquitlam where the number of units sold was up 11 per cent (263 in 2024 compared to 237 in 2023) while more moderate increases were posted in New Westminster (up 0.4 per cent) and recreational communities such as Whistler/Pemberton (up 3.3 per cent). In Fraser Valley, Mission was the sole market to experience an increase in apartment sales, according to the Fraser Valley Real Estate Board, up just over 74 per cent year-over-year (68 in 2024 compared to 39 in 2023). Strong sales were also reported in Calgary neighbourhoods such as Eau Claire (up 59.1 per cent) and Downtown East Village (up 17.3 per cent).

Meanwhile, RE/MAX found that investor activity has stalled in most markets. The slowdown has been most notable in Greater Toronto, where up to 30 per cent of investors have experienced negative cashflow on rental properties as mortgage carrying costs climbed, according to analytics by Urbanation and CIBC Economics. Investor confidence is expected to recover in the months ahead, as interest rates fall and return on investment (ROI) improves. Edmonton bucked the trend in investor pullback. With supply outpacing demand in Canada’s most affordable condominium market, savvy investors in Edmonton have been actively revitalizing tired condominium stock and subsequently renting it out for top dollar. Affordability has been a significant draw for out-of-province investors, particularly those from Ontario and British Columbia who are seeking opportunities further afield to bulk up their portfolios. Out-of-province developers and builders have been similarly motivated by Edmonton’s lower development costs and lack of red tape. Halifax to a lesser extent has drawn investor interest, with affordability, low vacancy rates and upward pressure on rents being the primary factor behind the city’s appeal.

“In many markets, end users are in the driver’s seat right now,” explains Alexander. “While investors are an important part of the purchaser pool, this point in time is a unique opportunity for aspiring condominium buyers who, for a short window of time, will likely see less competition from investors and a better supply of product. This is especially true in Toronto and Vancouver, where the impact of monetary policy has hit investor profit margins to a greater extent despite high rent and low vacancy rates. With values set to rise, this is arguably the most favourable climate condominiums buyers have seen in recent years.”

In the longer term, immigration to Canada and in-migration/out-migration from one province or region to another will continue to prop up demand for condominiums in the years to come, as condominiums now represent both a first step to home ownership, and increasingly—in Canada’s most expensive markets—the middle step as well. Although population numbers are forecast to contract in the short-term, overall growth will resume, with Statistics Canada’s projections falling just short of 44 million to as high as 49 million by 2035.

Increasing density and urbanization, along with continued population growth is expected to support the long-term outlook for condominium activity nationally. Canada’s urban population has been climbing consistently since the post-WWII period with an estimated 80 per cent of Canadians residing in urban centres. Downtowns are growing fast, and more rapidly than ever before.

“The housing mix is evolving very quickly as a result of densification and urbanization. Condominiums now represent the heart of our largest cities, and it is inevitable that further development will see condos become the driving force accounting for the lion’s share of sales in years to come,” says Alexander. “It’s a physical and cultural shift that Canadians are not only adjusting to but are embracing, as younger generations redefine urban neighbourhoods, sparking demand for vibrant and robust amenities, infusing new life in Canada’s urban cores in the process.”

Market by market overview

Greater Vancouver Area and Fraser Valley

Softer market conditions prevailed throughout much of the year in the Greater Vancouver Area and the Fraser Valley, with fewer sales of condominium apartments occurring across the board in 2024. In Greater Vancouver, year-to-date apartment sales between January and August were well off year-ago levels at 9,248, according to Greater Vancouver Realtors, down just over eight per cent from the same period in 2023. Neighbouring Fraser Valley reported just 3,130 apartments changing hands between January and August of this year, down 8.5 per cent from year-ago levels. Values continue to climb in the Fraser Valley, where the overall average price year-to-date for apartment units is up two per cent year-over year ($559,215/$548,658) according to the Fraser Valley Real Estate Board, while Vancouver has edged up two per cent to $823,550 in 2024, compared to $807,085 in 2023.

Home-buying activity started with a bang in both Greater Vancouver and the Fraser Valley this year as the anticipation of interest rate cuts in April fuelled momentum. When it became evident that interest rates would hold steady until June or July, the wind was sucked from the market sails. Several areas in Greater Vancouver have reported an increase in year-to-date sales, including Port Coquitlam (263 sales in 2024 compared to 237 sales in 2023), New Westminster (546/544) and Whistler/Pemberton (186/180). Despite several interest rate cuts to date, however, buyers are still skittish, holding off on purchasing their home until rates decline further, while sellers are reluctant to list their homes for fear of leaving money on the table.

The catch-22 situation has been frustrating for buyers and sellers alike, but buyers who pull the trigger now on a purchase, may ultimately find themselves in a better position come spring. Selection is good with more than 2,100 apartments currently listed for sale in Greater Vancouver and another 2,080 available in the Fraser Valley, and buyers have the luxury of time to make thoughtful decisions. Come spring, the number of purchasers in the market is expected to increase, placing upward pressure on values.

Some of the most popular areas for condominium sales in Greater Vancouver in recent years are in East Vancouver. Its culturally diverse and artsy neighbourhoods, top-shelf restaurants and cafés, including Michelin Star Published on Main, as well as craft breweries and entertainment, have served to draw a younger demographic. False Creek, Mt. Pleasant, Kits Point, Fairview, Pt. Grey and Dunbar offer condo buyers a spectacular view of North Vancouver and the Burrard Inlet and easy access to the Skytrain, bike and walking paths, parks and recreational facilities. A one-bedroom apartment in an established building in Mt. Pleasant can be purchased for approximately $650,000, while newer product can be picked up for as low as $490,000 to a high of $928,000. Prices in nearby Kits trend higher with a one-bedroom hovering at $715,000 on average.

The lion’s share of apartment sales in both Greater Vancouver and Fraser Valley are occurring under the $800,000 price point for a one-bedroom apartment, while a two-bedroom priced below $1 million will generate solid interest. The Valley tends to offer greater selection under the $800,000 price point, and typically has more appeal with first-time buyers.

As demand rises in tandem with the Bank of Canada’s interest rate cuts, absorption levels should increase. Spring of 2025 is expected to be characterized by strong demand and dwindling supply, with modest increases in average price. Strong economic fundamentals going into the new year will support an increase in home-buying activity, with lower interest rates and longer amortization periods helping to draw first time buyers into the market once again.

City of Calgary

While interprovincial migration has slowed from year-ago levels, overall net migration to Alberta continues to climb, sparking demand in the province’s affordable real estate market. In Calgary, the sale of condominium apartments experienced a modest increase of almost three per cent in the first eight months of the year, with 5,722 units changing hands compared to 5,577 sales during the same period in 2023. Year-to-date average price has climbed 15 per cent year-over-year to just over $347,000, up from $301,868 in 2023, according to the Calgary Real Estate Board.

Growth has been noted in virtually all areas of the city, with the greatest percentage increases in sales occurring in Eau Claire (59.1 per cent), Killarney/Glengary (46.7 per cent), Garrison Woods (64.7 per cent) Garrison Green (23.5 per cent) and Currie Barracks (18.2 per cent). Most condominium apartment sales are occurring in the downtown district, where walkability plays a major role. Younger buyers tend to gravitate toward the core area, which allows residents to walk to work and amenities. Not surprisingly, the highest number of sales occurred in the Downtown East Village, where 129 units have been sold year to date, up from 110 sales one year ago. Significant gains have also been posted in average price, with Saddle Ridge experiencing an increase in values close to 36 per cent, rising to $317,997 in 2024, followed by Hillhurst, which increased 21.4 per cent to $423,873. Out of the 12 key Calgary markets analyzed by RE/MAX, seven posted double-digit gains in values.

Seller’s market conditions prevailed in the city throughout much of the year, with strong demand characterizing home-buying activity. Luxury apartment sales are on the upswing, with 49 apartments selling over $1 million so far this year compared to 41 during the same period in 2023, an increase of 19.5 per cent. Empty nesters, retirees and oil executives are behind the push for high-end units, most of which are in the downtown core offering spectacular views of both the Bow River and the mountains.

First-time buyers are most active in the suburbs, where they can get the best bang for their buck in communities such as McKenzie Town, Panorama Hills and Saddle Ridge. Apartment values in these areas average around $300,000, making them an attractive first step to home ownership, but also an affordable entry point for small investors.

After a heated spring market, inventory levels have improved substantially, with a relatively good selection of condominiums available for sale. Inventory levels hover at close to 1,500, up substantially from year-ago levels, with the sales-to-new listings ratio now sitting at 60 per cent. With interest rates trending lower, more buyers and a greater number of investors are expected to enter the market in the year ahead. Rather than waiting for next spring, when rates are lower but prices are higher, buyers may want to consider making a purchase today when supply is healthy and market conditions are less heated. Buying with a two-month closing could also capture the expected Bank of Canada rate cuts in October and December.

Edmonton

Home-buying activity in the Edmonton’s apartment segment exploded in 2024, with year-to-date sales almost 37 per cent ahead of year-ago levels. Affordability continues to be the catalyst for activity, with 3,351 units changing hands, up from 2,452 sales one year ago, making 2024 the best year for apartment sales in the past five years (for the January to August period). The average price of an apartment in Edmonton year-to-date is $200,951, up four per cent over year-ago levels, according to the Realtors Association of Edmonton, making Edmonton the lowest-priced major market in the country.

Immigration and in-migration have seriously contributed to the uptick in sales, with Edmonton reporting record population growth in 2023. Statistics Canada data for Alberta in the second quarter of 2024 show net interprovincial migration continues unabated, up almost 11 per cent, with 9,654 new residents coming from other Canadian centres – the majority hailing from Ontario and British Columbia. During the same period, immigration numbers remained relatively constant at 32,000. The sales-to-new-listings ratio now sits at 65 per cent—clear seller’s territory. Many condominiums are now moving in multiple offers.

The influx of newcomers has buoyed the city, with growth evident in neighbourhoods from the downtown core to the suburbs. Most are buying up properties, as opposed to renting, as they may have done in years past. Home ownership is more-easily attainable in Edmonton relative to other major cities, with the cost of a condominium apartment as low as $100,000. Newer condominiums are available for less than $300,000. Condominiums vary in shape and size in Edmonton, with row house condominiums featuring a backyard and a garage being a major attraction. Investors have also entered the picture, buying up older, tired condo units, fixing them up and renting them out for top dollar.

Lower development costs have also prompted an influx of out-of-province builders and developers who can quickly construct 20- and 30-floor high-rise towers or townhouse developments that fill the missing middle. Well-known builders in Ontario and British Columbia are moving into the Alberta market because of the lack of red tape. Several condominium buildings are currently underway, with many more in various stages of planning. With demand currently outpacing supply, the quicker these units come on stream, the better. By 2027, more balance market conditions are expected.

First-time buyers are also exceptionally active in the condo segment. Affordable price points and a notable lack of provincial and municipal land transfer taxes allow younger buyers to easily enter the market. Purchasers who are coming from other provinces quickly realize how far their dollar stretches in Edmonton, as the low cost of housing allows for more disposable income. Homeowners can pay their mortgage, go out for weekly dinners, and have an annual vacation, without too much stress.

Amenity-rich Oliver remains one of the most coveted hubs in Edmonton. West of 109th St. and the downtown core, the diverse neighbourhood offers a mix of new condominium development including walk ups, mid- and high-rise buildings, and peripheral spin off including retail shops, restaurants and entertainment, all within a short walk to the River Valley. Demand is especially high thanks to the walkability of the area and close proximity to the ICE District. Old Strathcona and Whyte Avenue are also sought-after. The trendy arts and cultural area boasts a mix of funky, bohemian-style and historic buildings, galleries, boutiques, shops, restaurants, cafes and a vibrant nightlife.

Edmonton’s housing market continues to be driven from the bottom up. Renters move into condo apartments, who move into condo row housing, who move into townhomes and eventually make their way to single-detached homes. The cycle is expected to be supported by a strong local and provincial economy heading into 2025 as monetary policy continues to ease, households and businesses increase spending, and oil prices climb.

Greater Toronto Area

Demand for condominium apartments and townhomes in the Greater Toronto Area has softened year-over-year, with sales off 2023 levels by eight per cent. Close to 16,800 condo apartments and townhomes changed hands between January and August 2024, down from 18,263 sales during the same period in 2023. Overall condominium values fell almost two per cent, with average price now sitting at $732,648 for apartments and townhomes, down from $747,039 during the same period in 2023, according to data from the Toronto Regional Real Estate Board (TRREB).

Two buyer pools are impacting the condominium market at present—investors and end users. The investment segment has stalled, as a growing number of condominium investors find themselves unable to cover their carrying costs when closing, despite a relatively strong rental market. In a July 2024 report, Urbanation and CIBC Economics examined the distribution of cash flow by dollar amount and found that 30 per cent of investors of new condos completed in 2023 were cash flow negative by $1,000 or more.

End users, especially those seeking larger one-bedroom-plus-den or two-bedroom units, are active in the condo market, particularly in the Forest Hill South, Yonge-Eglinton, Humewood-Cedarvale (C03) and Bedford-Nortown, Lawrence Park and Forest Hill North (C04). Several new buildings in these areas have prompted a 25.3- and 13.3-per-cent uptick in sales activity respectively, while average price has edged slightly higher in Forest Hill South, Yonge-Eglinton, Humewood-Cedarvale ($871,839 in 2024 compared to $863,681 in 2023).

Double-digit increases in year-to-date condominium sales in the 416 were also reported in west end communities such as High Park, South Parkdale, Swansea and Roncesvalles (up 15.7 per cent), High Park North, Junction, Lambton- Baby Point, and Runnymede-Bloor West Village (up 25.2 per cent); and in the east, the Beaches area (up 20.3 per cent). In the 905-area code, an uptick in condo activity was noted in Halton Hills (up 21.6 per cent) and Milton (up 13.3 per cent); and in Newmarket (up 30.6 per cent).

Close to 43 per cent of TRREB districts in the 416-area code reported modest gains in average price between January and August of 2024, led by the Annex, Yonge-St. Clair (C02), with a close to 14-per-cent increase in values. One in four markets in the 905-area code have posted gains in condominium values year-over-year.

Inventory levels continued to climb throughout much of the year as available resale units were joined by an influx of new completions on the Multiple Listing Service (MLS). Selection has vastly improved over year-ago levels, with over 8,300 apartment units actively listed for sale at the end of August, compared to 5,455 units during the same period in 2023. Almost 1,700 active listings were reported in the condo townhouse segment, up 53 per cent from the 1,110 posted in 2023. Pre-construction condominium assignments are still occurring as investors look to sell their units before registration, but the pace has subsided since 2023.

New completions have slowed in the second quarter of this year in Greater Toronto–Hamilton in large part due to the lack of investor interest, with starts off last year’s level by 67 per cent, according to Urbanation. Repercussions in the short-term will be negligible but the longer-term impact is expected to be substantial. Twenty-thousand new condominium units are planned for the GTA in 2025; 30,000 in 2026; and 40,000 in 2027. In 2028, the figure falls to 5,000 units. At that point, construction will heat up, but not fast enough to meet demand.

With a six-month supply of condominiums currently available for sale, the GTA market is heading into clear buyers’ territory. With values at or near bottom and Bank of Canada overnight rates trending lower, the fall market may represent the perfect storm for first-time buyers. As rates drop, more buyers are expected to enter the market in the months ahead. As absorption rates increase, the current oversupply will be diminished and demand will take flight, placing upward pressure on average prices once again.

Ottawa

Although downsizing empty nesters, retirees and first-time homebuyers fuelled steady demand for condominium apartments and walk-ups in Ottawa in 2024, the number of units sold between January and August fell short of year-ago levels. The Ottawa Real Estate Board reported just over 1,400 condominium apartments changed hands year to date, down less than one per cent from 2023. Meanwhile, values rose 2.3 per cent over last year, with average price rising to $447,042.

Affordability remains a major concern in Ottawa, despite changes to monetary policy in recent months. First-time buyers find themselves locked out of the freehold market, given high interest rates and stringent lending policies. Fixed mortgage rates have dropped in recent weeks and are expected to continue to decline for the remainder of the year and into 2025, but potential buyers are still wary. Inventory levels have increased year over year as a result, with active listings in August hovering at 636, approximately 44.5 per cent ahead of 2023.

First-time buyers who choose to move forward with a purchase are typically looking for condominiums with low monthly maintenance fees and a parking spot priced from $500,000 to $550,000. The downtown core to Centretown and Dows Lake are popular destinations, given the proximity to the workplace, shops and restaurants. Those seeking to spend less could find a lower-priced unit in an older building for $350,000 but monthly condominium fees would be significantly higher. Suburban condominiums in areas such as Kanata, Barrhaven, and Orleans are also an option, priced from $375,000 to $400,000.

Tighter inventory levels exist in the luxury segment, where fewer condominium apartments are available over the $850,000 price point. Empty nesters and retirees are responsible for the lion’s share of activity in the top end of Ottawa’s condominium market. Westboro, the Golden Triangle, and Centretown, as well as neighbourhoods undergoing gentrification including The Glebe, Lansdowne, and Old Ottawa East, are most sought-after by buyers, many of whom are downsizing. Walkability is a major factor in these communities, with condominium apartments within walking distance to top restaurants and cafes, unique shops and picturesque walking paths.

As consumer confidence grows with each interest rate cut, more and more buyers should return to the market. Fourth-quarter sales are expected to be comparable to year-ago levels, but the outlook for spring of 2025 appears to be bright. Pent-up demand is building and those first into the market will reap the rewards.

Halifax Regional Municipality

After three consecutive interest rate cuts and the prospect of two more by year end, optimism is finally building in the Halifax Regional Municipality housing market. Average condominium values have edged ahead of year-ago levels in the first eight months of the year, now sitting at $484,491, up one per cent over the $479,558 reported during the same period in 2023. Condominium sales, however, declined year over year, with 510 properties changing hands between January and August, down close to seven per cent from last year’s levels, according to data compiled by the Nova Scotia Association of Realtors.

The trepidation that existed earlier in the year is subsiding and confidence is starting to grow as inflation is curtailed. The most competitive segment of the overall housing market remains under $600,000 in the Halifax area, with first-time buyers most active at this price point. Entry-level condominiums priced between $300,000 and $400,000 are most sought after, while semi-detached and townhomes tend to be the preferred choice over $400,000. At the top end of the market, condominium sales over $750,000 have experienced a modest uptick, with 35 properties sold so far this year, compared to 34 during the same period one year ago. Year-to-date average price in the top end of the market has softened from year-ago levels, sitting at almost $940,000, down from $957,300 during the same timeframe in 2023. Young professionals and retirees are largely behind the push for higher-end condominiums, with most sales occurring within the city’s downtown core.

Downward pressure on interest rates has prompted more sellers to list their condos in recent weeks, but there are no liquidation sales occurring. Inventory levels are up just over eight per cent from 2023. The vast majority of condominium apartments are found on the peninsula’s northeast quadrant, central and downtown cores. Some developments are situated on the waterfront in Dartmouth (near the ferry) and in Bedford, but supply is less plentiful in these areas.

Investors are also active in Halifax’s condominium market with an eye toward rental properties. Multi-unit housing remains exceptionally popular, with most investors interested in buildings with eight to 10 units. Four-plexes and duplexes are also an option, given the city’s low vacancy rates and upward pressure on rent.

In-migration and immigration have continued to play a role in the city’s growth, although the influx of newcomers has abated somewhat from peak levels. Positive international immigration, coupled with interprovincial migration, contributed to a net increase of 6,000 people in the second quarter of 2024. Major improvements are planned for the Dartmouth waterfront that will make it more pedestrian friendly in the coming years, including public spaces and cruise ships. The redevelopment hopes to mirror the success of Halifax’s vibrant waterfront area that continues to attract both visitors and residents to the area’s restaurants and cafes, outdoor kiosks, retail shops, playgrounds, museums, and the ferry terminal.  With continuous investment and a bold new vision for the municipality, Halifax is expected to thrive in the years ahead, given the city’s affordable real estate and spectacular topography.

About the RE/MAX Network 

As one of the leading global real estate franchisors, RE/MAX, LLC is a subsidiary of RE/MAX Holdings (NYSE: RMAX) with more than 140,000 agents in almost 9,000 offices with a presence in more than 110 countries and territories. RE/MAX Canada refers to RE/MAX of Western Canada (1998), LLC and RE/MAX Ontario–Atlantic Canada, Inc., and RE/MAX Promotions, Inc., each of which are affiliates of RE/MAX, LLC. Nobody in the world sells more real estate than RE/MAX, as measured by residential transaction sides.

RE/MAX was founded in 1973 by Dave and Gail Liniger, with an innovative, entrepreneurial culture affording its agents and franchisees the flexibility to operate their businesses with great independence. RE/MAX agents have lived, worked and served in their local communities for decades, raising millions of dollars every year for Children’s Miracle Network Hospitals® and other charities. To learn more about RE/MAX, to search home listings or find an agent in your community, please visit remax.ca. For the latest news from RE/MAX Canada, please visit blog.remax.ca.

Mario Toneguzzi

Mario Toneguzzi is Managing Editor of Canada’s Podcast. He has more than 40 years of experience as a daily newspaper writer, columnist, and editor. He was named in 2021 as one of the Top 10 Business Journalists in the World by PR News – the only Canadian to make the list. He was also named by RETHINK to its global list of Top Retail Experts 2024.

About Us

Canada’s Podcast is the number one podcast in Canada for entrepreneurs and business owners. Established in 2016, the podcast network has interviewed over 600 Canadian entrepreneurs from coast-to-coast.

With hosts in each province, entrepreneurs have a local and national format to tell their stories, talk about their journey and provide inspiration for anyone starting their entrepreneurial journey and well- established founders.

The commitment to a grass roots approach has built a loyal audience on all our social channels and YouTube – 500,000+ lifetime YouTube views, 200,000 + audio downloads, 35,000 + average monthly social impressions, 10,000 + engaged social followers and 35,000 newsletter subscribers. Canada’s Podcast is proud to provide a local, national and international presence for Canadian entrepreneurs to build their brand and tell their story

#business #CanadasNumberOnePodcastforEntrepreneurs #Condo Market #Condos #entrepreneurs #entrepreneurship #Homes #Housing #RealEstate #small business

Futurpreneur supporting small business in Canada - Canada's Podcast

Karen Greve Young is the CEO of Futurpreneur, a national non-profit organization that has provided support to over 18,700+ young entrepreneurs across Canada since its establishment in 1996.

Karen Greve Young, CEO, Futurpreneur
Karen Greve Young, CEO, Futurpreneur

In this video interview, she discusses what the organization does and some recent developments with it.

Check out the previous news story here.

BIO
With her extensive background in finance and strategy, Karen is an accomplished leader in the non-profit sector, committed to driving inclusive economic and social prosperity through innovative approaches and strategic partnerships. She leads a committed team at Futurpreneur, working to empower diverse young entrepreneurs and foster sustainable, inclusive economic development within communities across Canada.

Before joining Futurpreneur in 2018, Karen held the position of Vice President, Corporate Development & Partnerships at MaRS Discovery District, where she played a pivotal role in shaping corporate strategies, managing global innovation partnerships, and overseeing community engagement initiatives. Her earlier career encompasses various finance, management, and strategy roles in organizations such as Bain & Company, Gap Inc., and the
Institute of Cancer Research in San Francisco, New York, and London.

Karen’s passion for making a difference extends beyond her professional endeavors. She co-authored a book with her mother titled “Love You So Much, A Shared Memoir,” documenting their journey through her mother’s battle with ovarian cancer. Karen also serves as Chair of the Board of Ovarian Cancer Canada, further demonstrating her commitment to supporting important causes.

She holds an MBA from Stanford University’s Graduate School of Business and a BA in Economics from Harvard University, both with honours. With her exceptional leadership, diverse experience, and unwavering dedication, Karen Greve Young continues to drive positive change and inspire
the next generation of entrepreneurs in Canada.

Mario Toneguzzi

Mario Toneguzzi is Managing Editor of Canada’s Podcast. He has more than 40 years of experience as a daily newspaper writer, columnist, and editor. He was named in 2021 as one of the Top 10 Business Journalists in the World by PR News – the only Canadian to make the list. He was also named by RETHINK to its global list of Top Retail Experts 2024.

About Us

Canada’s Podcast is the number one podcast in Canada for entrepreneurs and business owners. Established in 2016, the podcast network has interviewed over 600 Canadian entrepreneurs from coast-to-coast.

With hosts in each province, entrepreneurs have a local and national format to tell their stories, talk about their journey and provide inspiration for anyone starting their entrepreneurial journey and well- established founders.

The commitment to a grass roots approach has built a loyal audience on all our social channels and YouTube – 500,000+ lifetime YouTube views, 200,000 + audio downloads, 35,000 + average monthly social impressions, 10,000 + engaged social followers and 35,000 newsletter subscribers. Canada’s Podcast is proud to provide a local, national and international presence for Canadian entrepreneurs to build their brand and tell their story

Announcing - FuturVille - Vulcan - AB - Canada's Podcast

Welcome to FuturVille – Your Hub for Healthy Longevity and Sustainable Living

Who Are We?
We are a for-profit company building a network of healthy longevity villages that plans to be in business for 100+ years where each of our stakeholders – residents, visitors, shareholders – will add minimum 10+ healthy years onto their life by actively up-leveling their quality of life, contribute and grow in a collective economy, and live, work and play in purpose-driven communities. 

Our Vision
Everyone lives in vibrant villages, thriving with health and vitality, reaching age 100+ free from disease, embracing technology for good, and achieving remarkable environmental, social, and governance achievements, and measurable sustainable development goals.

Our Mission
By 2035, develop, promote, and connect 1 million residents and 20 million visitors to healthy longevity experiences across 4,000 villages.

Website: https://futurville.com

Phone: 250-713-9409

Email: alive@futurville.com

https://www.youtube.com/ @futurville  

https://www.instagram.com/futurville_ex/

https://x.com/FuturVille_eX

https://www.facebook.com/FuturVille.Ex
----

Stay Connected with #CanadasPodcast!

Join our growing community of entrepreneurs across Canada! Don't miss out on inspiring interviews, expert insights, and the latest business trends from the people shaping the future of our economy.

👉 Subscribe to our YouTube channel for full episodes: https://www.youtube.com/c/canadaspodcast
🌐 Explore more on our website: https://canadaspodcast.com
📸 Follow behind-the-scenes on Instagram: https://www.instagram.com/canadaspodcast
👍 Stay in the loop on Facebook: https://www.facebook.com/canadaspodcast
🐦 Join the conversation on Twitter: https://twitter.com/canadaspodcast
💼 Connect with us on LinkedIn: https://www.linkedin.com/company/canadas-podcast

💡 Want exclusive updates on the latest #entrepreneur podcasts and news?
Make sure to subscribe and never miss a beat! Your support helps us continue bringing you the best stories from Canada’s top business leaders.

The importance of a positive mindset - Calgary - Canada's Podcast

Eno Eka is a highly accomplished business analyst and consultant based in Calgary, Alberta, who has made significant contributions in helping professionals and immigrants kick-start their careers. With more than 100,000 professionals from over 90 countries benefiting from her career coaching and keynote speaking, she is widely recognized as an award-winning career coach and mentor.

Eno Eka's expertise in business analysis extends to her role as a content developer and course instructor at the University of Manitoba, where she develops and teaches courses on the subject. Her passion for business analysis led her to establish the Business Analysis School, where she helps professionals harness their skills in the field to secure lucrative 6-figure jobs. Additionally, Eno is the CEO of Eny Consulting Inc., where she helps businesses optimize their performance and achieve their revenue goals through the effective use of digital technology. Eno's dedication to the field of business analysis and her commitment to helping professionals and businesses succeed have established her as a respected leader and authority in the industry.

In just six years since arriving in Canada, Eno has touched the lives of thousands of immigrants, curating mentorship and coaching programs that have earned her global recognition and awards. She is a dedicated volunteer and sits on the Board of the IIBA Calgary Chapter as Director of Education, and also volunteers at several non-profit organizations such as the Calgary Region Immigrant Employment Council (CRIEC), Calgary Dream Centre, and the Calgary Drop-in Centre.

Eno is also the host of the Fireside Chat with Eno Livestream Podcast, where she shares valuable insights on job search tips and strategies for new immigrants. She is a Giving Back Sponsor for the Women in Need Society (WINS), and a Campaign Ambassador for the United Nations and the Office of the United Nations High Commissioner for Refugees.

Her remarkable awards and achievements speak for themselves, including Forbes 30 under 30 nominees 2020, Education Category; Alberta Top 30 under 30 recipients 2021; Canada’s Most Powerful Women: Top 100 award Winner 2022; RBC Women of Influence 2020 Award Recipient; and Top 100 Black Women to Watch in Canada 2020 Award Recipient, among others. She was also a Finalist for the RBC Top 75 Canadian Immigrant Awards 2020, Alberta Women Entrepreneurs Nominee 2021, and a Women Empowerment Awards and Women of Impact Awards Nominee in 2022. Additionally, she was a Tällberg/Eliasson Global Leadership Prize Nominee in 2020 and a Black Entrepreneur of the year Finalist in 2022.

Eno's exceptional contributions to the industry have earned her recognition as one of the Top 8 Female Business Analysis Influencers to Watch in 2021, and she is also an IIBA Global Corporate Member and an IIBA Endorsed Education Provider for all IIBA certifications. Her dedication to her profession and to helping others is evident in her numerous achievements, and she continues to inspire and impact the lives of professionals and immigrants alike.

---

Join Our Community of Canadian Entrepreneurs!

Entrepreneurs are the driving force behind Canada’s economy, and we’re here to support them every step of the way. For exclusive insights, tips, and success stories from Canada's top business leaders, subscribe to our YouTube channel and follow us on Facebook, Instagram, LinkedIn, and Twitter.

Want to stay ahead with the latest #entrepreneur podcasts, business strategies, and news? Don’t miss out—subscribe to our bi-weekly newsletter for updates delivered straight to your inbox! Join thousands of Canadian entrepreneurs who rely on us for the resources they need to succeed.

Realizing the vital importance of prioritizing self-care - Edmonton - Canada's Podcast

As an entrepreneur navigating significant life changes and milestones, Jacquie Verenka embarked on a transformative journey of healing and self-discovery. Through this process, she realized the vital importance of prioritizing self-care—a lesson that resonated deeply with many others she encountered along the way. Witnessing firsthand the struggles of those around her ignited a passion to create a space for healing and renewal. This inspiration led to the founding of JV Ventures Retreats, where she aims to provide others with the time and tools they need to reconnect with themselves and embark on their own journeys of growth. Through these retreats, she aims to foster a community of healing and transformation.

Her retreats are designed not only to foster personal growth and well-being among participants but also to create a positive impact in the community. She believes that meaningful transformation extends beyond individual experiences: by partnering with local charities and causes, Jacquie aims to Give Back and support those in need. Each retreat incorporates opportunities for participants to engage with and contribute to these initiatives, fostering a spirit of connection and shared purpose. Together, people can grow while uplifting their community.

---

Join Our Community of Canadian Entrepreneurs!

Entrepreneurs are the driving force behind Canada’s economy, and we’re here to support them every step of the way. For exclusive insights, tips, and success stories from Canada's top business leaders, subscribe to our YouTube channel and follow us on Facebook, Instagram, LinkedIn, and Twitter.

Want to stay ahead with the latest #entrepreneur podcasts, business strategies, and news? Don’t miss out—subscribe to our bi-weekly newsletter for updates delivered straight to your inbox! Join thousands of Canadian entrepreneurs who rely on us for the resources they need to succeed.

Revolutionizing Food Supply Chains: Wayne McIntyre’s Mission for a Truck-Free Future! - Toronto - Canada's Podcast

Wayne McIntyre is the founder and CEO of Relocalize, a cleantech company that is transforming food supply chains by using autonomous micro-factories to decarbonize food production.

With over 20 years of experience in helping technology companies accelerate growth, Wayne brings a diverse background in business strategy, technology, and corporate law. He has a proven track record of leading successful growth transformations, building high-performing commercial teams, and developing and executing Mergers and Acquisitions (M&A) strategies for both large and small technology firms.

Under Wayne’s leadership, Relocalize is disrupting the food and beverage industry by decentralizing manufactured food production, eliminating middle-mile trucking, and significantly reducing greenhouse gas (GHG) emissions. This innovation increases supply chain efficiency for grocery retailers. Wayne’s mission is to create a truck-free future for the food industry, delivering sustainable, eco-friendly products that benefit retailers, consumers, and the environment.

---

Join Our Community of Canadian Entrepreneurs!

Entrepreneurs are the driving force behind Canada’s economy, and we’re here to support them every step of the way. For exclusive insights, tips, and success stories from Canada's top business leaders, subscribe to our YouTube channel and follow us on Facebook, Instagram, LinkedIn, and Twitter.

Want to stay ahead with the latest #entrepreneur podcasts, business strategies, and news? Don’t miss out—subscribe to our bi-weekly newsletter for updates delivered straight to your inbox! Join thousands of Canadian entrepreneurs who rely on us for the resources they need to succeed.

What is the Future of Office Work Today? - Calgary - Canada's Podcast

Scott Barras, Head of Work Dynamics, Canada, for JLL, discusses a recent survey by the commercial real estate company on the Future of Work.

The video can be seen here.

Press Release
JLL’s Future of Work Survey uncovers new opportunities for corporate real estate as two-thirds of business leaders expect their CRE budget to increase between now and 2030

 CHICAGO, Sept. 9, 2024 – Despite the challenging commercial real estate landscape and mixed economic environment, global business leaders are bullish on the future, with two-thirds (65%) expecting their CRE budgets to increase between now and 2030, as revealed in JLL’s (NYSE: JLL) Future of Work survey. The biennial, global survey explores the evolving world of work by assessing the key priorities, challenges and strategies that are top of mind for more than 2,300 business and CRE decision makers.

This year’s findings are unveiled through a series of articles exploring key areas of focus for corporate real estate teams: Managing the implications of shifting work patterns; Partnering with the C-suite to support CRE investment; Identifying CRE activities for ‘AI copiloting’; Moving from ambition to action on sustainability commitments; and Defining the future-fit CRE function. The first two articles, launched today, dive into the effects of shifting work patterns on workplace expectations, and what the changing world of work means for the way the CRE function operates as more than 64% of leaders expect to increase and rebalance their headcount by 2030, in an attempt to recruit the right skills for the future.

“Since our 2022 survey, the CRE landscape has become increasingly complex and dynamic, evolving toward better office use. We see that in these results, and in our conversations with clients,” said Neil Murray, Global CEO, Work Dynamics, JLL. “Looking ahead, business and CRE leaders working to drive talent and efficiency throughout their organization must consider the unique needs of their organization, and leverage tools such as tech, AI, and upskilling, as well as strategic partnerships across the value chain to enable the CRE function to reach its full potential as a powerful agent of transformation.”

Competing visions on the most efficient workstyles create renewed CRE challenges

Business leaders are mainly focused on three corporate goals over the next five years: growing revenue through expansion and M&A (57%), attracting and retaining talent (53%) and achieving organizational efficiency (54%). However, the juxtaposition that lies between driving revenue growth through top talent and increasing efficiency requires leaders to delicately balance priorities and assess the role of offices as places that enable employees to deliver their best work.

Strong momentum toward office-based work since 2022 has brought forth expectations among respondents to increase use of office space (62%), where more than half of leaders plan to grow their total footprint over the next five years. Today, 44% of organizations are considered “office advocates,” who would like to see staff in the office five days a week – as compared to 2022, when just 34% of employees were working in the office full time. Hybrid work is here to stay, but the office is central to work again. Today, 85% of organizations have a policy of at least three days of office attendance per week, and 43% expect the number of in-office days to increase by 2030

Globally, hybrid work is more likely to take place at large organizations in EMEA, where hybrid workstyles are considered a key part of the employee value proposition, and largely in sectors including e-commerce, energy & renewables, technology and life sciences. Office advocates alternatively tend to be small-to-medium sized companies in APAC or the Americas, across sectors such as healthcare, retail and manufacturing. Beyond those big trends, the reality is often more complex, with different workstyles coexisting within many organizations.

Today’s office advocates also make a concerted effort to address diverse workplace needs – they are more focused on making accessible workplaces (49% vs. 36% of hybrid adopters), tailored to meet the needs of different generations, cultures, and neurodiversity specificities, and may even pay a premium to occupy buildings with leading health and wellbeing credentials. With office attendance may also come new opportunities for compensation and career advancement– more than a third (39%) of respondents could envision introducing different pay and benefits to employees who attend the office regularly.

“The future of work looks different across companies and regions, reflecting the unique nature of organizations and employee needs. It keeps shifting and requires building evolutionary office programs and spaces, able to adapt to continuous changes in the workstyles,” said Cynthia Kantor, CEO, Project & Development Services, JLL. “Globally, as CRE budgets and footprints receive new investment, the corporate real estate function must effectively partner with the C-suite to demonstrate the desired value.”

The corporate real estate function can serve as a powerful agent of transformation, particularly with the use of technology, AI and the support of strategic partners

 The value the corporate real estate function can deliver will vary depending on the needs of the organization and regional priorities. Globally, business leaders believe CRE can add the most value by supporting business growth (41%), enabling organizational efficiency (38%) and reducing operating costs (37%). Environmental, social and governance (ESG) factors are also an area in which the CRE function is expected to add value, especially in EMEA. Organizations in the Americas are more likely to expect CRE to support business growth, innovation and efficiency, while companies in Asia Pacific are more focused on digitization.

These varying expectations around value require agility throughout CRE functions, in a context where 41% of CRE decision makers report challenges with thinking and investing for the long term due to the pace of organizational change. The same percentage believe CRE is perceived as a cost center, rather than a value driver. Identifying the right metrics and ways to demonstrate value, in addition to strengthening relationships with the C-suite, will ensure CRE is more integrated into the wider business and positioned to quickly adapt to changing priorities – 46% of CRE leaders say influencing and leadership will be critical skills in the future.

Technology is also emerging with greater impacts for CRE, as more decision-makers expect to report to business transformation or technology by 2030. CRE leaders believe that 70% of their activities will be at least partially supported through the use of AI by 2030, and a quarter of the CRE function could be initially completed through automation – freeing up time for more strategic work. Nearly two-thirds (62%) of decision makers see technology and AI adoption as critical for enhancing the value that CRE delivers in the future. A ‘future fit’ CRE team should focus on high value-add tasks internally, while automation and AI take on routine and repetitive tasks and outsourcing partners are brought in for specialist tasks and individual projects.

About JLL

For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 110,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.

Mario Toneguzzi

Mario Toneguzzi is Managing Editor of Canada’s Podcast. He has more than 40 years of experience as a daily newspaper writer, columnist, and editor. He was named in 2021 as one of the Top 10 Business Journalists in the World by PR News – the only Canadian to make the list. He was also named by RETHINK to its global list of Top Retail Experts 2024.

About Us

Canada’s Podcast is the number one podcast in Canada for entrepreneurs and business owners. Established in 2016, the podcast network has interviewed over 600 Canadian entrepreneurs from coast-to-coast.

With hosts in each province, entrepreneurs have a local and national format to tell their stories, talk about their journey and provide inspiration for anyone starting their entrepreneurial journey and well- established founders.

The commitment to a grass roots approach has built a loyal audience on all our social channels and YouTube – 500,000+ lifetime YouTube views, 200,000 + audio downloads, 35,000 + average monthly social impressions, 10,000 + engaged social followers and 35,000 newsletter subscribers. Canada’s Podcast is proud to provide a local, national and international presence for Canadian entrepreneurs to build their brand and tell their story

businessCanada's Number One Podcast for EntrepreneursCommercial Real EstateentrepreneursentrepreneurshipOfficesmall business

Make sure to set up your anti-goals - Vancouver - Canada's Podcast

Paul Atherton is the CEO and Co-Founder of Highspire, a premier learning experience for construction company owners, complemented by a powerful venture capital division. With a wealth of experience as a seasoned business coach and professional engineer, Paul has been guiding businesses toward success since 2017. His expertise is deeply rooted in the construction industry, where he has made significant contributions across North America and China, working with clients in key sectors such as onshore/offshore oil and gas, mining, and manufacturing.

Beyond his leadership at Highspire, Paul is a long-time advisor in the construction sector, known for his strategic insight and ability to drive growth and innovation. His commitment to excellence, coupled with his industry-spanning experience, has established him as a trusted figure in helping companies navigate complex challenges and achieve their strategic goals.

---

Entrepreneurs are the backbone of Canada’s economy. To support Canada’s businesses, subscribe to our YouTube channel and follow us on Facebook, Instagram, LinkedIn and Twitter.

Want to stay up-to-date on the latest #entrepreneur podcasts and news? Subscribe to our bi-weekly newsletter

The best advice for immigrants or newcomers is to follow the local rules and the laws - Niagara and Vancouver - Canada's Podcast

Hanson Zhang is one of the owners of Three Bridges Group, a real estate development company. As a Chinese immigrant who moved to Canada 14 years ago, Hanson is captivated by nature's beauty and the Canadian people's warmth. However, the awe-inspiring Niagara Falls left a lasting impression on his family during their North American tour in 2008 before they immigrated As Three Bridges one of their projects is to build a stunning mega mixed-use complex in front of Niagara Falls that matches the natural wonder's beauty. They have purchased the property already and aim to create a space that will serve our beloved tourists in the best possible way.

---

Entrepreneurs are the backbone of Canada’s economy. To support Canada’s businesses, subscribe to our YouTube channel and follow us on Facebook, Instagram, LinkedIn and Twitter.

Want to stay up-to-date on the latest #entrepreneur podcasts and news? Subscribe to our bi-weekly newsletter

Bringing the entrepreneurial spirit into a career as a realtor - Calgary - Canada's Podcast

Renata Reid, a seasoned Sales Associate and Senior Vice President of Sales with 20+ years in Calgary's real estate scene. is a Certified Luxury Home Marketing Professional and Global Real Estate Advisor. She seamlessly blends marketing prowess with senior sales savvy.

A Calgary resident for 21+ years, Renata brings an intimate grasp of the local market. Her commitment to excellence, coupled with a straightforward and sophisticated humor, sets her apart. Renata excels in tailored marketing and exceptional negotiation, making her the go-to for condos, residences, or luxury properties.

Her approach combines thoughtful advice, honest opinions, and unwavering integrity. A top-performing senior agent, Renata fosters trust with her approachable personality.

Committed to the community, she supports local organizations like The Calgary Emergency Women’s Shelter, Canadian Christian Outreach, Rotary Club, Calgary Food Bank, and Mustard Seed.

Renata's passion for unique open houses with live music and special guests adds flair to her real estate expertise. Strategic pricing and a touch of wit make her the ideal choice for those selling their homes.

Active in running, kayaking, and cross-country skiing, Renata mirrors her enthusiasm for the communities she serves. Choosing Renata means a seasoned professional with a dash of wit for an enjoyable real estate journey.

---

Entrepreneurs are the backbone of Canada’s economy. To support Canada’s businesses, subscribe to our YouTube channel and follow us on Facebook, Instagram, LinkedIn and Twitter.

Want to stay up-to-date on the latest #entrepreneur podcasts and news? Subscribe to our bi-weekly newsletter