Toronto has a strong economy due to a large presence of financial institutions as well as major corporations. Some examples include Thomson, Rogers Communications, and Four Season Hotels. The city is also home to Canada’s major banks such as Toronto-Dominion Bank and Royal Bank of Canada. The financial status of the city is further bolstered by the Toronto Stock Exchange, one of the largest in the world. Such a solid economy consists of a job market of highly qualified professionals. Naturally, businesspeople seek to find residence near the financial district of Toronto.
Of course, Toronto is also an excellent place to work and play as it offers plenty of cultural and entertainment venues. The Royal Ontario Museum and Art Gallery of Ontario feature some of the finest collections of art in Canada. Sports fans can cheer on various professional teams such as Maple Leafs, Blue Jays, Raptors, Toronto F.C., and Argonauts. Additionally, the sports stadiums such as Air Canada Centre also host music concerts and other shows. The Eaton Centre offers unique shopping experiences in one of the largest retail centers in North America. Toronto residents can enjoy all of this and much more.
Toronto has an excellent public transportation system that is provided by the Toronto Transit Commission. The TTC operates buses, metro trains, and streetcars throughout the city. Combined with pedestrian friendly sidewalks, Toronto is very easy to navigate. Also, Pearson International Airport is located right on the outskirts of the city.
Just like the economy, the real estate market in Toronto has been steadily growing in recent years. Downtown Toronto condos are very popular among various demographic groups such as businesspeople and retirees. The main reason is that downtown is home to most of the city’s attractions, important facilities, and transportation access.
Before talking about new Condos Toronto, potential buyers should be familiar with the local districts in Toronto. Downtown Toronto officially refers to the financial district that is located between Bloor Street, Bathhurst Street, Don River, and Lake Ontario. The University of Toronto defines the northern border of this district. The downtown area consists of more than 20 specific districts such as The Annex, Grange Park, and Yorkville.
There are several reasons why anyone would consider buying downtown Toronto condos. First of all, the premier location means that there is a great demand for such condominiums. In real estate, location often determines the price. In this case, downtown condos could cost more than twice as much than condos in remote Toronto districts such as North York and Scarborough. Buying new Condos Toronto would be a smart investment, because they can be sold later on for great profits.
While offering financial security for the future as an investment, Toronto condos also provide comfortable living. One of the main advantages of living in a condominium is that it eliminates the headaches associated with home maintenance. Condo buildings may also feature amenities such as fitness centers, community centers, and swimming pools. There are assigned parking spaces in outdoor lots or even indoor garages.
There may be concierge and maintenance services that serve condo owners. Toronto condos are typically located in high rising towers, which feature high speed elevators. These skyscrapers offer breathtaking views of the city skyline and Lake Ontario, which can be enjoyed from balconies. New Toronto condos are typically furnished with hard wood floors, modern kitchen appliances, and spacious layouts with large transparent glass windows. One or two bedrooms are the common options.
Prices for downtown Toronto condominiums vary widely between $300,000 to over $2 million. For example, a two bedroom condo unit along Front Street can be bought for just over $450,000 with yearly tax rates of about $3,000. Such a unit is within walking distance from the CN Tower, Rogers Centre, and the city’s harbor.