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Toronto New Condos for Sale
Why Should You Invest In Toronto Real Estate?
The city has experienced a period of architectural resurrection, with several buildings by world renowned architects having opened during the late 2000's. Imagine living in one of many landmark condo buildings in the downtown core and its vast surrounding neighbourhoods.
It is projected by 2020, Toronto will have the highest number of high-rise condominiums in the world. Young single professionals between the ages of 25-35 do prefer the core as a desired location to live; where the city condo market has exploded in the last decade. There is an abundance of new pre-constructed condos for sale to choose from, adding to Toronto's growth, competitive edge and quality of life. For those who love the big cities; such places like New York and Los Angeles, but with less crime -Toronto is a great fit.
Average Price of Condos in Downtown Toronto
The average price of a resale condominium apartment for Toronto in 2017 is around $521,842 – up 24.3 per cent compared to 2016. The average index selling price for condo apartments continued to grow, rising 20% to 21% year-over-year increase. Price growth was stronger in the core where supply has become more strained, with sold index prices up between 22% to 25% annually.
In the pre-construction sector the average price was $733 psf in the City of Toronto, the average selling price rose 24% annually to $510,000 while the per square foot average value increased by 28%. The GTA is averaging at $694 psf rising 5% over new launch prices in 2016 at $659 psf.
Toronto, A Dynamic, Diverse, Rising City with Optimal Business Environment
Toronto is Canada's economic powerhouse and is largest city and is North America's fifth most populous municipality. It is bordered by Steeles Avenue to the north, the Rouge River to the east, Lake Ontario to the south and Etobicoke Creek/Highway 427 to the west. Home to a diverse population of about 2.8 million people.
Toronto is a lively, bustling metropolis with a core of soaring skyscrapers, multi-storey condominiums and office towers, all overshadowed by the iconic CN Tower. Toronto is a dynamic, diverse, rising city that provides the optimal business environment for companies looking for a competitive edge, since it is Canada's financial and business capital.
Toronto is rated as one of the top global cities with economic clout, only behind New York. it's a global centre for finance, business, arts and culture, it is consistently ranked one of the world's most liveable cities in the world.
① Canada's economic powerhouse
② North America's fifth most populous municipality.
③ Home to a diverse population of about 2.8 million people.
④ A dynamic, diverse, rising city with optimal business environment
⑤ Canada's Financial and business capital
According to Statistics Canada Labour Force Survey data, over 1.26 million of Toronto residents are employed. Eighty-five percent of City’s residents work in the service-producing industries.
The economic outlook through 2017 is for further expansion in this advancement phase with employment increasing at rapid pace and the unemployment rate falling well below eight percent. The housing market enterprise will continue to increase, with continued growth in prices, sales and construction.
This awe-inspiring city has virtually everything you could ever want or need within a small radius. There is always something going on, every weekend throughout the year, however in the summer the city comes alive with multiple festivals and events going on simultaneously.
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Accessibility / Getting Around
Toronto is one of the most accessible cities in North America. The TTC (Toronto Transit Commission) is a great option to get in and around the city. Their fleet consists of subways, streetcars and buses. Toronto has North America's third largest public transit system after New York City and Mexico City.
Another advantage is to use the PATH system, which is the largest underground pedestrian walkway in North America. It connects 1200 restaurants and stores, approximately fifty office towers, twenty parking garages, six subway stations and a railway terminal over its; 28 km span. Each letter in PATH embodies a different colour, each representing a direction. The P is red which represents south. The orange A directs pedestrians to the west, while the blue T directs them north. The yellow H which points to the east.
Another project worth noting is the incoming Under Gardiner Park, new LRT lines and bike lanes, will be implemented to dedicate in creating a more pedestrian-friendly streetscape.
The city is easy to maneuver with a durable grid street design, it’s one of the most extensive public transit systems in North America and has a large number of concentrated walkable pathways, trails, alleyways and bridge access.
Toronto is a blast: however one may call it, whether it be Hogtown, Hollywood North, T.O., The Megacity, T-dot, We The North,The 416 or just simply the 6ix. It's a vibrant, big-time city abuzz with endless activities. Therefore come and explore what this great city has to offer. Live, work and play harder!
Who wants to live in Toronto? I do! you do! we all do!
Find New Condo Developments by the Neighbourhood
List of New Condos in Toronto
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Questions & Answers
Where in Toronto should I purchase / invest in a condo?
The best place to purchase / invest in Toronto is a location close to the Toronto Transit system. Walking to a nearby subway station is always more convenience than taking a bus or streetcar to a subway station. Walking distance from a school or hospital is also ideal. The downtown professional and University student would be your main tenant or purchaser. They are looking to live in an area with instant access to transit, schools, hospitals, restaurants and a nearby shopping mall wouldn’t hurt. Reach out to one of our sales representatives and we will guide you in the right direction on where to investment in up and coming condo projects.
What is my Land Transfer Tax amount in Toronto?
When buying residential real estate in the province of Ontario it is subject to a land transfer tax. If you are buying a house or condo in Toronto you will also be required to pay a separate land transfer tax to the city as well. If you are a First Time Home Buyer (meaning you have not owned property before in your lifetime anywhere in the world) you are eligible to receive rebates from both the Province of Ontario and the City of Toronto. In order to qualify for the rebates you must occupy the property you are buying as your principal residence. Click Here to calculate your Land Transfer Tax.
How can I profit from the Toronto Condo Market?
This is a loaded question. In short, every condo investor’s goal is to get a positive cash flow, the tenant paying down your mortgage balance and last but not least, investing in an area that have capital appreciation. Our GTA-Homes sales representative will guide you through the process to find the right investment condo to achieve your investment requirements.
Learn More About The GTA Real Estate Market
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