Condo Neighbourhoods

The concept of a condo was invented so that more people could have the opportunity to own real estate in the most popular areas of a city. As a consequence, the neighbourhoods with the best views, best access to amenities and best nearby job opportunities tend to be the most condo-heavy. Unlike a home for sale, where the neighbourhoods are a little bit smaller and quieter, and there's a chance of getting a detached home for less than the development budget of the first space shuttle, condos downtown can be extremely expensive and in-demand, so make sure you familiarize yourself with the advantages and disadvantages of each of Toronto's major condo neighbourhoods for example, before you make your decision.

The original city of Toronto is the district with the most expensive real estate. Toronto, Canada now consists of an enormous area containing at least six former cities that have all been amalgamated or annexed into the whole. While these areas are developing at an ever-increasing rate, it is the 'old city' of Toronto that remains in highest demand for condos due to the fact that there are more offices and infrastructure down there than in the outlying areas, given the head start it had in terms of development.

The old city is also known as 'downtown' or the 'central district', and sports spectacular views of Lake Ontario. Condominiums for sale are among the most expensive in the country, and not just for the views. Downtown is also the home of the hottest clubs, coolest theaters, biggest sporting arenas, and most expensive shopping boutiques, which means downtown condos are not just in demand for office workers who want to live close to their jobs, but also for film and sports enthusiasts who are planning on spending some time in the city. There are also numerous rail connections from the TTC and the GO train, and the nearby City Center Airport, which make it the ideal neighbourhood for traveling business people.

Moving farther away from the city, we have what are now known as the 'inner' and 'outer' ring suburbs. While not in as high demand as downtown, their lower property prices have made them popular among lower level downtown workers who have been squeezed out of downtown neighbourhoods because of the skyrocketing prices. The districts of York and East York used to be suburbs, but have become home to many new condo developments with the rise in population, especially around the transit stations.

These days, if you want to escape the high rise condo tower, you have to go out beyond the Toronto city limits . The so-called 'outer ring' suburbs of Toronto (Etobicoke, Scarborough, and North York), while still retaining some suburban-style detached home neighbourhoods, are also home to areas of rapidly developing condos. These high-rise clusters are often found around the transit stations like in York and East York, and the farther away from city center you get, the cheaper the prices become, which often means fewer well-off business people as residents, and more new immigrants.

If you enjoyed our article about Condo Neighbourhoods, you may also be interested in reading about "Choosing the perfect condo style for your real estate" by Toronto business

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Sunday, March 18, 2018