New Condos Toronto
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Investing in New Condos in Toronto
Home to over 2.8 Million people of every culture from all over the globe, Toronto is one of the most diverse and exciting cities in the world. Located in Southern Ontario just North of Lake Ontario, Toronto is one of the most iconic and picturesque cities in the world.
In the past 10 years, new condos in Toronto have drastically changed the city’s skyline. The revitalization of the Downtown Core is now home to approximately 400 new condo projects alone. This has once again made Downtown and the Waterfront a highly demanded place to call home.
Currently, there are roughly 2000 new condos in Toronto that draw the attention of all types of homeowners. The Toronto real estate market is one of, if not, THE hottest in the country with an average of 4000 new condos for sale at any given time and roughly 2000+ condos being sold monthly. Over the past 5 years, the average price per square foot for a new condo in Toronto has grown from $434/Sq.ft to $760/Sq.ft (that’s up 75%!). At times, the Toronto condo resale market has even outperformed the Toronto Stock Exchange, making new condos in Toronto an investment worth getting involved in.
Investing by the Numbers
• New Condos in Toronto = 4.95% increase in value year over year.
• Avg. price per square foot in Toronto = $760/Sq.ft
• Average rent in Toronto = $2505/month
• 75% increase in avg. price per square foot in Toronto since 2014.
• New Condos Downtown Toronto = $961/Sq.ft
• Average rent Downtown Toronto = $2641/month
• Roughly $1.95 billion in sales of Toronto condos in Q1 of 2019.
Toronto is one of the largest new condo markets in the country with nearly 4000 condos for sale at any given time. Toronto, from a broad perspective, covers a large area with a variety of unique and luxurious neighbourhoods such as Midtown, Liberty Village, King West, and more.
On the low end of the spectrum, new condos in Toronto average prices of $446/Sq.ft in neighbourhoods like Scarborough. However, most neighbourhoods are in excess of $800/Sq.ft, hence the high overall city average.
Buying a new condo in Toronto is a popular investment due to the desire to be at the heart of the city and everything that comes along with it. New condo developments outside of the city make a conscious effort to make it easy to travel into the city. However, for buyers who would rather skip the commute and buy or rent minutes away from their work, world-class entertainment, and any restaurant you can think of, Toronto is the place to be.
Toronto is the perfect location for those looking for a strong work-life balance. Depending on the neighbourhood of choice, buyers’ daily commute can range anywhere from a 5-minute walk to a 30-minute subway ride. Either way, when the workday ends new condo buyers of Toronto aren’t far from home.
Transportation in and out of Toronto is crucial to the city’s overall function. Union Station acts as the hub for all commuters traveling in and out of the city. Here you can catch the GO Train/Bus, VIA Rail, UP Express to Pearson Airport, and the TTC Subway.
GO Transit is the regional public transit service for the Greater Toronto and Hamilton Area. Serving more than seven million people across 11,000+ square KM riders can travel to Hamilton and Kitchener-Waterloo in the west, Newcastle and Peterborough in the east, Orangeville and Beaverton in the north, and Niagara Falls in the south.
Canada’s famous VIA Rail also stops at Union Station. Whether you want to travel to Montreal for the weekend, or plan a vacation to Vancouver VIA Rail has you covered. Travel safely coast-to-coast by rail and your new home in Toronto will be right here waiting for you.
TTC is the public transit service that services the entire city of Toronto. With a strong network of four subway lines (soon to be five), buses, streetcars, and LRT’s riders can access virtually anywhere in the city. New condos built near subway lines and bus stops attract Toronto home buyers who want to explore their city.
On the other hand, if you are looking to purchase a new condo in Toronto you should also know that you are steps away from fun and entertainment any night of the week. Enjoy the best food and drinks at the Distillery District on the east side of Downtown, plan a day of fun on the Toronto Islands, or catch a game or concert of your choice at one of Toronto’s world-class venues.
When buying a new condo in Toronto you are given the luxury of either cooking at home or having any cuisine of the world cooked for you. Toronto has every restaurant you can think of whether it be a large food-chain or a mom and pop bakery.
New condos in Toronto come loaded with their own private amenities that add to the comfort of home. However, despite the Downtown core being a concrete jungle, there are countless options for golf courses, parks, beaches, sports, and indoor activities.
Buying a new condo in Toronto you’re moments away from the best entertainment in the world. Catch a Jays, Leafs, Raptors, TFC, or Argos game any night of the week or take a trip to the Scotiabank Arena or Budweiser Stage to indulge in the world’s biggest names and talents.