Toronto is representative of the contemporary class of global cities around the world. It has become a major world centre for industry, innovation, tech, and immigration side by side with cities such as London, Paris, New York and Dubai. Resonance Consultancy, based out of New York and Vancouver are the leading advisors in tourism, real estate and economic development around the world. For almost a decade now, they have been ranking the top 100 cities in the world to live, based on criteria such as tourism, real estate, economic development, education, global investment and immigration. Toronto came in at 13th in the 2021 rankings, 4 spots higher than last year. Toronto placed just between Chicago and San Francisco. Canada’s largest city is poised for big things in the next few years! With almost half the city populace born outside of Canada, Toronto is fuelled and charged by incredible diversity, industry, innovation, and education. However, Toronto’s diversity is much more connected to the long-term opportunity rather than migrant labor. Ryerson University’s Centre for Urban Research and Land Development in the summer of 2020 crowned Toronto as the fastest growing metropolitan area in all of North America!
When compared to New York, Toronto had almost three times as much population growth from immigration in 2019. Toronto’s real estate appeal and wealth are set to only grow in the coming years and real estate prices are on track to match that of New York, London and San Francisco in the next decade. Buying into a pre-reconstruction project today will ensure the highest rate of return not to mention in ten years real estate will just be unaffordable for most. Buying a detached home is already far too inaccessible for most people in the city or even in the outlining suburbs. Buying a single-family home comes with a lot of upkeep and maintenance as well. Condominiums offer property ownership at a much more affordable price and far easier to rent for higher returns than a single-family home. Pre-construction offers great return on your investment, in 2015 the average price per square foot in the Greater Toronto Area was just under $600, today it averages $1,300 sqft. The math is very simple, when you purchase a pre-construction unit your return on investment is amazing, whether you decide to use as your home or as a rental income.
Anila is deeply dedicated to representing her clients in the successful acquisition of preconstruction residential projects. She has done the work and has educated herself on which projects are the best to call home or to build your real estate investment portfolio. She will never let clients buy something she feels is not a 100% the “best buy” for them and thier needs.
