Toronto ranks as the wealthiest and most densely populated city in Canada. Since there exist millions of families and less space to accommodate them, living expenditure is sky-high. The area consists of some of the most luxurious homes and apartment complexes that make up for some of the most expensive neighborhoods in Canada.
Therefore, if you are a broker who works within the real estate industry or just a tenant looking to find a place for rent, you have come to the right places. This blog displays retail prices for numerous housing schemes that fit your budget needs. The jest of this article describes a couple of the most expensive neighborhoods with houses costing over $1,000,000 even!
Neighborhoods in Toronto
The Yonge-St. Clair’s neighborhood in Toronto is also called Deer Park and gets considered a tranquil place with above-average residential plots in Toronto’s Midtown. Houses here usually start at $2,000,000, while in some restricted areas of the neighborhood, average townhouses can never get priced anything below $3,723,000.
Condos are especially hot selling in this neighborhood since they get preferred most by seniors and professionals, with an average condo priced at $$1,388,000.
You can find all sorts of housing in the district, such as detached and semi-detached housing, to the more expensive multi-family houses adopting various architectural patterns. Some buildings hold greater significance than others and hence get priced accordingly. These include revamped 19th-century Victorian homes converted into modern-designed housing, such as townhomes and condos. Balmoral, Farnham, and Walker Avenues are some of the most scenic streets in the area and get visited the most.
Toronto receives recognition for its education sector and makes sure every individual benefits equally irrespective of their residency. Like most expensive neighborhoods in the city, Yonge St. Clair also receives its fair share of amenities. These facilities include peculiar-styled streetcars, a busy atmosphere, and the best private schools in town, such as The De La Salle College and The York School.
Perhaps what would stand out the most to you about this neighborhood is how it is less than 10 minutes away from the city financial center. It cuts down on time and money spent commuting for families, so they instead invest the money into long-term housing.
If you fall under the category of homeowners who can afford expensive housing, you should look into the Casa Loma neighborhood in Toronto. The reason why most people prefer the place is because it gives respite to them from the hustle of the city. Its prime location is yet another asset, accompanied by spacious outdoor spaces, schools that receive good rankings in league tables, and stunning properties on sale. However, housing in this neighborhood is different from the neighborhood described above. Accommodation ranges between detached houses inside spacious lots, combining English Cottage, Tudor, Edwardian and Georgian styles. You will find houses in Casa Loma priced highly in real estate listings, which is around $2,645,000.
Some other residential real estate choices available include luxury condo high-rise buildings that you can find situated mainly around Davenport, Spadina, and Avenue Rd.
The Annex is one of the best neighborhoods in Toronto for families with streets ideal for late-night walks with your significant other. Other amenities include the best shopping complexes in town and the most fun-filled recreational activities.
Hence, the neighborhood should be on your list of priorities, especially if you can afford the housing. On the real estate listings, a single-family house costs about $2,512,000 on average. Property here dates back from 1880 to 1930 and comprises different architectural variations, such as Victorian, Queen Anne, Richardsonian, and Romanesque.
The Annex does not have towering skyscrapers, making it an ideal residence for those who wish to detach from the main city hustle. Residential areas in the area are peaceful and feature stunning three-story mansions lined with trees across beautifully constructed streets. If you wish to shift here with family, it might work in your favor that most of the multi-unit houses recently got converted back to single-family homes. Some condo buildings retail at around $2,512,000 for each unit, while townhouses are slightly pricier, retailing at $3,339,000.
The heart of the Annex is Bloor Street, and it offers the best shopping experiences with several stores and boutiques as startups by local designers. Since the area also houses The University of Toronto, the neighborhood has good public transportation with a diverse set of people. If you choose to build your new home here, some amusements close to you include Korea town, The Royal Ontario Museum, Chinatown, and Kensington Market.
This blog was only an overview of a couple of neighborhoods in Toronto, but you can head to your nearest real estate website to get a better insight into the perfect fit for you. Make sure to get in touch with a broker before making such a once-in-a-lifetime decision, but once you know how the market operates, decision-making will surely come naturally to you!