The Greater Toronto Area’s condo market is facing unprecedented challenges, with a dismal 165 units sold last month, marking what the industry expects to be its worst year on record. This dramatic slowdown is occurring as Toronto City Council has approved a hike in the land transfer tax for luxury homebuyers, potentially impacting the higher end of the market. Meanwhile, Mayor Chow has announced further delays to the highly anticipated Eglinton Crosstown LRT, pushing its opening beyond next month. Other news includes discussions on high-speed rail for Canada, debates on e-bike regulations, and concerns over potential sewage overflows related to Ontario Place construction. For a deeper dive into these stories, please visit the original article on UrbanToronto.ca.
Read the original story here: https://urbantoronto.ca/news/2025/12/news-roundup-december-18-2025.60076
