Toronto and East TorontoSpans from Highway 427 to the west, the Rouge River to the east, Steeles Avenue in the north and Lake Ontario in the south. Established in 1793 Toronto has been Canada's focal point in Business and Financial for more that 100 years. With a population close to 3 million Toronto is by far Canada's largest city. We have seen a major transition in Toronto over the past 100 years. The growth has seen it's biggest change happen over the past 50 years. Toronto offers it's residence everything that major cities offer.
Toronto Housing Real Estate:
Toronto offers ever type of houses throughout the city. Most neighbourhoods are integrated with different dwellings. There are a few high end neighbourhoods such as Rosedale, Forest Hill, The Bridle Path, and The Kingsway, but for the most part you are able to find homes that meet your needs everywhere. It is so that the closer to the downtown you are the higher the price but there are some areas in the downtown that are very reasonable like the Dufferin area and close to the CNE. Over the past 15 years we have seen prices soar in Toronto to the point that the average detach home is over a million dollars. This did not slow the market and buyers continued to flood the market buying homes. We have seen different government levels step in to even make it tougher to buy in Toronto, first local added a second land transfer tax, taxing buyers up to as much as 2% for a home over $400,000 (which is the majority of houses). We then saw the provincial government tax foreign investments 15% for buying houses. These measures were to slow the rising costs of real estate in Toronto.
Toronto's greatest challenge now is growth. We will continue to see growth in the condo sector but due a lack of land new projects are few and far between. When new projects arrive they come at a premium. I will focus and give you all information on these projects as they are tough to come by. You will find most projects tend to be in the far east and west of the city though we still see smaller builds in the city more townhouse projects.
Why Live in Toronto?
Toronto is still a very multi cultural city. You never need to travel more than a few miles to a special neighbourhood that offers unique shopping and restaurants. Toronto offers what all world cities offer. In many neighbourhoods you don't need a car because Toronto offers public transportation. Most move for the excitement of the city you can be minutes away from the downtown but still be in a quiet neighbourhood. Most neighbourhoods have been built around the original hamlet or towns and still have kept a bit of that small town feel.