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Chinatown Toronto Neighbourhood
Chinatown is an ethnic jurisdiction that extends along Dundas Street West, Spadina Avenue, College Street, and University Avenue, and it is located directly south of the pivotal College and Spadina intersection. Many Chinese residents and business are centrally located here, making it one of the largest Chinatowns in North America. The major Chinese malls in the area are Chinatown Centre and Dragon City.
This pocketed community is known for its quaint outdoor market feel with fresh produce, bakeries, butcher shops, vintage clothing stores, cafes, and eclectic shops. It’s the third most walkable neighbourhood in Toronto.
There are approximately 18,458 residents who call this area home. The streets are lined with century old homes, Victorian style rowhouses as well as newly built condominiums. The price of homes in the area have been generally strong due to its adjacency to the downtown core. Many take great value in living so close to the city, therefore, the local real estate market is quite strong.
Chinatown largely features condos, accounting for 89% of sales, accompanied by townhouses at 6% and semi-detached houses at 2%. Condo apartments are the common trend and the majority of properties have one bedroom. The average price in Chinatown over the past year has been $570,458, an increase of 9% over the same term in the previous year. The average cost of condos over the past year was $476,174, as compared to the average freehold price of $1,449,682, over the same period.
The TTC is the main mode of transportation in this neighbourhood because driving can be a little chaotic due to city congestion and traffic. Regardless, The Gardiner Expressway and Lakeshore Boulevard can be reached within minutes for those who do opt to drive. Streetcar services are readily accessible throughout Bathurst Street, Spadina Avenue, Dundas Street and Queen Street, all of which connect to the subway line making getting around a breeze.
Although the area is still considered predominantly working class, the neighbourhood has welcomed several new condo developments, mostly mid-rise in stature, thereby increasing its population density.
The average household income for the area is $61,063 and the median is $43,721.
Real estate properties feature a range of modern condominiums to restored Victorian houses, both of which will breathe new life into this neighbourhood. Before you know it, you’ll feel right at home. Who doesn’t want to live close to all city amenities at your doorstep? Make this neighbourhood your new home address.