Land prices and government fees and charges are the most significant of these costs. New condominiums have been key in maintaining some equilibrium in the housing market to this point. In the past, as development costs grew, affordability was maintained through design innovation, with builders offering smaller but more efficiently laid-out units. Land costs are rising because intensification is forcing the redevelopment of infill properties to accommodate new housing. So if you think home prices have been accelerating rapidly so far, fasten your seatbelt: Intensification Turbo could be about to kick in.

Source: thestar August 27, 2016 10:30 UTC