Downtown Toronto is a hot housing market. Young professionals, families and everyone in between are interested to see what the husting city can offer them. Downtown Toronto does offer plenty of excitement, but that’s not all.
Before moving to your new place, you’ll have to do a comprehensive search of what the city and neighbourhood offer you. Even more so, you should be sure to look into other information, like the potential for job opportunities nearby, transportation, and extra entertainment in the city.
We have all of this information organized for you below, so you can have an idea of what Downtown Toronto offers you before you jump on a pre-construction condo deal in Downtown Toronto. Downtown Toronto is an amazing living experience for every resident, and it surely has something to offer you.
Best Neighborhoods for Pre-Construction Condos in Downtown Toronto
Queens Quay
In the heart of Downtown Toronto, we have Queens Quay, a well-known as much loved neighbourhood. Queens Quay gives residents the mix of downtown living with a shimmery view of Lake Ontario.
This neighbourhood is very easily accessible, both by walking or commute to accommodate the many professionals choosing to live here. The area is bright and lively and will almost always have events going on to entertain locals.
Yonge-Eglington
The area you probably think of when you imagine living in Downtown Toronto is Yonge and Eglinton, a busy core area marking the central Toronto intersection. This area is filled with high-rise condo buildings and pre-construction condos in Downtown Toronto.
This neighbourhood offers residents a short walk to all amenities because after all, Yonge Street is the core of Toronto. This area has everything you could possibly imagine, plus more. It even hosts Eglington Park which is some of the best greenery found in Toronto.
Kensington Market
Kensington Market is well known as one of Toronto’s most vibrant and exciting neighbourhoods. The many thrift stores, bars, bookstores, and fresh markets have an eclectic feel that gives the neighbourhood its appeal.
The neighbourhood is located in the core of Downtown Toronto and can be accessed from major streetcar routes and subway stations. The central location is great for commuters and is within walking distance of nearly all amenities.
King West
King West is in the core of Downtown which gives it a dynamic, busy feel that residents love. In this neighbourhood, you will never feel bored or unmotivated. King West is specifically known for its ideal location for condo living, which has given it a reputation for accompanying much of the younger population. Pre-construction condos in Downtown Toronto are always a great option in this area.
The King West area is most loved for its convenience. Everything you require will be close by, and even the extra amenities like bars and fun restaurants are not a far walk away. A bonus to this neighbourhood is being only steps away from the Air Canada Centre.
The Annex
The Annex is a popular neighbourhood in Downtown Toronto because of its prime location and comfortable atmosphere. This neighbourhood is a central hub for young professionals working or studying in Toronto.
The area is filled with older homes and plenty of restaurants of bars to enjoy after hours. The main strip within the Annex has also been home to many shops and businesses that recently opened, building on the community-like feel.
Average Price of Homes & Pre-Construction Condos in Downtown Toronto
Downtown Toronto homes are priced similarly across the district, although types of homes can differ pretty significantly. Condos across the city are based on location, and better spots featuring greater amenities are higher priced based on the spot you’ll be living in.
Currently, standalone homes in Downtown Toronto are selling for about $1.15 million on average, which speaks to the great location and competition seen in the housing industry. Condos, on the other hand, are all selling at an average price of $720,000, significantly lower than houses but also much smaller. Condos come with separate amenities, such as building usually having in-house gyms and even party rooms or common spaces for residents.
These are the condo price trends over 2013 – 2021 for new condos in downtown Toronto:
| 2013 | $483,000 |
| 2016 | $673,000 |
| 2019 | $745,000 |
| 2020 | $819,000 |
| 2021 | $883,000 |
Transportation in Toronto
The Toronto Transit Commission is one of the best systems in North America. Comprised of buses, streetcars, and an elaborate subway system, many citizens rely on this for their daily commute to skip the busy street traffic.
Toronto’s Union Station is also a commuter hub, giving residents access to Go Trains to neighbouring cities and also VIA Rail Trains which will take you to cities much further away.
Entertainment in Toronto
Entertainment in Toronto is vast, and you’ll almost never run out of activities to try. There are numerous stadiums and sports centres if you want to check out a Toronto Maple Leaf’s hockey game or a Blue Jays baseball game.
Each street also holds its own bars, shops and residents unique to the area that residents love and enjoy on the weekend and weeknights. The CN Tower is a getaway enjoyed by tourists and residents alike.
If you’re an outdoor enthusiast, you can check out Toronto’s Harbourfront. This area gives you a beautiful view of the lake and you can eat at one of the local restaurants or food trucks to get the full experience.
Toronto has something for every resident to enjoy, from indoor events to street festivals.
Employment rate in Toronto
The Toronto unemployment rate is about 8.9%. The city, however, is home to many central industries and major corporations, giving all residents infinite job opportunities. The Downtown core is filled with businesses that all hire locally.
The city offers resume workshops and skills-building centres to increase the employability of community members. If you’re new to the city and looking to land a prosperous job, be sure to check these out!
Facts About Downtown Toronto
Here are a few facts to finish off your home search for Downtown Toronto to familiarize you with the area.
- Toronto is the largest city in Canada, and even the fourth largest in North America. The city also has the fastest growing population in North America.
- The Toronto Zoo is the largest zoo in Canada, and one of the largest zoos found throughout the entire world.
- Toronto’s Yonge Street is one the largest streets in the world. The street in it’s entirety stretches for more than 56 kilometres.
- The city of Toronto represents more than 200 individual ethnic origins. The city is extremely multicultural, with more than 50% of residents being born elsewhere.
- Toronto’s PATH is the largest underground shopping tunnel in the entire world! Skip the rain and walk below to see the many stores and restaurants living underneath.
Summary
With all this information you now know everything Toronto has to offer, and exactly how you would fit in. Each lively neighbourhood hosts a different aesthetic that appeals to different crowds, but the city itself can find a spot for everyone.
Toronto is filled to the brim with job opportunities for all, and a great transportation system that supports the busy resident lifestyle. Living in Downtown Toronto can never be boring, and there is entertainment for all to enjoy, every day of the week.
Keep an eye out for pre-construction condos in Downtown Toronto to guarantee a home in your favourite neighbourhood.
