Baker Real Estate has been selling new construction condominiums, townhomes, and resorts since 1993; they have been one of the largest players in the new construction industry in Toronto in the past 15 years.
Epoch Times talked with the company’s principals—president and CEO Barbara Lawlor, VP Jeff Clark and VP Harley Nakelsky—about changes in the real estate market in Toronto and the GTA between 2000 and 2015.
The three agreed that one of the biggest changes in the industry has been in the luxury sector. Fifteen years ago there were few luxury condominiums on the market, but One Post Road on Toronto’s famed Bridal Path changed all that.
“One Post Road was a leader in luxury living—there was so little luxury in our city—One Post road really captured the imagination. It was the beginning of the luxury market in Toronto,” says Lawlor. “Today, we have five 5-star hotels with residences atop and we have other really glorious buildings like One Bloor and The Ritz Carlton, so the luxury market has really grown.”
According to Nakelsky, one of the biggest changes in the market has been pricing.
“Real estate prices have consistently gone up over the years and condominium prices have risen exponentially as well. It’s fantastic for the industry, it’s fantastic for investors and it’s especially fantastic for the first time buyer who is making appreciation on their home,” he says.
