Bank of Canada reduces policy rate by 25 basis points: The time to buy at Palace Place, 1 Palace Pier Court is now!

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(Updated)

As we had reported about the importance of today’s announcement, the Bank of Canada has dropped its rate by 0.25% as predicted.

While this drop is minor, it more importantly signals an end to the high rate uncertainty that had been experienced since the Bank of Canada began raising rates in March 2022. Buyers should take great comfort in this announcement.

This news bodes very well for Palace Place going forward and demonstrates that the time to buy is now as prices should increase as activity increases.

UPDATE:

In response, the banks have already followed with 5-year mortgage rates as low as 4.89%.

E: LDALINDA@DALINDA.NET • TEL: 416-725-7170

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Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.

Follow @LukeDalinda on Instagram!

View all current and past Palace Place listings for sale here.

Luke Dalinda, Realtor. Royal LePage Real Estate Services Ltd., Brokerage.

View all current and past Palace Place listings for sale here.

The importance of June 5

The Toronto real estate market in 2024 has proven most challenging for key segments, such as homes in the $2M to $4M range and condos above the $1M mark. Many buyers have been waiting for reduced mortgage rates that for the market are well overdue now.

In their April 10 decision not to lower rates, the Bank of Canada had stated, “We are seeing what we need to see, but we need to see it for longer”.

This decision put a freeze on the spring real estate market, which is traditionally the busiest time of the year.

It has long been forecast that the first rate reduction would only be a drop of 0.25%. Many have argued that such a drop would be insignificant.

However, it is not about the amount of the rate drop but the signalling of the end of this high rate uncertainty.

That is what is needed to start the cycle of buying again in many slow markets, like condos.

What will happen on June 5?

In a May 30 report by The Globe and Mail, a poll had shown that 75% of some of the top economists have predicted a June 5 cut in the key interest rate by 25 basis points to 4.75%. Here is a link to that report.

https://www.theglobeandmail.com/investing/article-poll-bank-of-canada-to-cut-interest-rates-on-june-5-three-further/

E: LDALINDA@DALINDA.NET • TEL: 416-725-7170

Be sure that you SUBSCRIBE to this blog to be the first to know of new listings even before they hit MLS! Stay tuned. The Subscribe link is to the left of this post.

Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.

Follow @LukeDalinda on Instagram!

View all current and past Palace Place listings for sale here.

Luke Dalinda, Realtor. Royal LePage Real Estate Services Ltd., Brokerage.

View all current and past Palace Place listings for sale here.

JUST LISTED: 43 Kingsway Crescent

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View toward Palace Place and Palace Pier

43 Kingsway Crescent – $8,400,000

From Ph.D. Design and Kingsway Village Custom Homes comes 43 Kingsway Crescent, a brand new, European-inspired 3-storey, 7,101 total square foot, 4+1-bedroom, 7-bath trophy luxury residence that offers an enchanting backyard, with an award winning salt water Solda Pool, with waterfalls, nestled over the Humber River and its parklands on a massive 74 x 213 foot ravine lot in prestigious Kingsway. Impeccable design, the finest aesthetics, and its Beaux Arts detailing are hallmarks of this masterpiece residence.

Click here for brochure

E: LDALINDA@DALINDA.NET • TEL: 416-725-7170

Be sure that you SUBSCRIBE to this blog to be the first to know of new listings even before they hit MLS! Stay tuned. The Subscribe link is to the left of this post.

Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.

Follow @LukeDalinda on Instagram!

View all current and past Palace Place listings for sale here.

Luke Dalinda, Realtor. Royal LePage Real Estate Services Ltd., Brokerage.

View all current and past Palace Place listings for sale here.

New Listing Alert: Palace Place, 1 Palace Pier Court, Suite 3501

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NEW LISTING: Palace Place, 1 Palace Pier Court, Suite 3501 – $2,999,000

Modern living and classical elegance captivatingly merged without compromise.

Suite 3501 is a newly renovated, lavish, and palatial condominium residence, with approximately 2,836 square feet of luxury living space, 3-bedrooms, and the most enchanting views of the lake, the city skyline, and High Park. This spectacular residence has been thoughtfully built using the finest materials, refined finishes, one-of-a-kind details, and quality craftsmanship that have been beautifully combined to create timeless appeal.

Click for brochure

  • Why Palace Place - Residences That Are Sublime
  • Why Palace Place - Forever View
  • Why Palace Place - Private Shuttle
  • Why Palace Place - Valet Parking

Contact Luke Dalinda now for your exclusive opportunity to tour this masterpiece!

Be sure that you SUBSCRIBE to this blog to be the first to know of new listings even before they hit MLS! Stay tuned. The Subscribe link is to the left of this post.

Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.

Follow @LukeDalinda on Instagram!

View all current and past Palace Place listings for sale here.

E: LDALINDA@DALINDA.NET • TEL: 416-725-7170

Luke Dalinda, Realtor. Royal LePage Real Estate Services Ltd., Brokerage.

View all current and past Palace Place listings for sale here.

Palace Place is Unprecedented!

With the release of the new Palace Place Budget, Crossbridge Condominium Services, which now manages over 800 condos in Ontario, has taken the time to comment on the success at Palace Place.

“Any one of the projects that Palace Place has undertaken in the last year, any corporation would be proud to say they were successful in that, but when you start stacking all of these projects that you’ve undertaken over the past year on top of each other it is, I think, certainly from my seat looking at over 800 condominium corporations, it’s unprecedented.

And I’ll say that again, it’s unprecedented. The leadership that you have, the community that supports you is, by far, I think one of the most engaged and one of the most successful that I’ve seen from where I sit, and I wanted to share that with everyone and I wanted to congratulate the board, the staff, and certainly the management team that we’ve put in place there on so many successes. It is, again I use that word and I don’t use it very often, unprecedented.”

Crossbridge Condominium Services Ltd., the biggest property management firm in Canada, with a portfolio of now over 800 condos.

I am really proud of this because my team and I work exceptionally hard to ensure that Palace Place remains the best managed condominium residence in Ontario.

Call today to learn how we set the bar higher!

Luke Dalinda

E: LDALINDA@DALINDA.NET • TEL: 416-725-7170

Be sure that you SUBSCRIBE to this blog to be the first to know of new listings even before they hit MLS! Stay tuned. The Subscribe link is to the left of this post.

Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.

Follow @LukeDalinda on Instagram!

View all current and past Palace Place listings for sale here.

Luke Dalinda, Realtor. Royal LePage Real Estate Services Ltd., Brokerage.

View all current and past Palace Place listings for sale here.

JUST LISTED: Palace Place, 1 Palace Pier Court, Suite 809

Palace Place, 1 Palace Pier Court, Suite 809 – $1,399,000

Suite 809 is a highly sought-after, newly renovated condominium residence, with approximately 1,388 square feet of living space, 2-bedrooms, 2-full baths, and breathtaking views of Lake Ontario, the Humber Bay Shores parkland, the Humber River, and Swansea village.

Click for brochure

  • Why Palace Place - Residences That Are Sublime
  • Why Palace Place - Forever View
  • Why Palace Place - Private Shuttle
  • Why Palace Place - Valet Parking

Contact Luke Dalinda now for your exclusive opportunity to tour this masterpiece!

Be sure that you SUBSCRIBE to this blog to be the first to know of new listings even before they hit MLS! Stay tuned. The Subscribe link is to the left of this post.

Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.

Follow @LukeDalinda on Instagram!

View all current and past Palace Place listings for sale here.

E: LDALINDA@DALINDA.NET • TEL: 416-725-7170

Luke Dalinda, Realtor. Royal LePage Real Estate Services Ltd., Brokerage.

View all current and past Palace Place listings for sale here.