Toronto has been growing exponentially in the past two decades with the population ballooning to 6.5 million in 2016 from merely 2 million in 1990. With this population growth comes millions of new residents looking for homes, driving up home prices more so in established areas. Your best bet in scoring a deal is to look for emerging neighbourhoods and buy a home there. Luckily for you, we’ve compiled 10 of the hottest such neighbourhoods in Toronto below.
Yonge and Sheppard
Disguised by a suburban vibe and situated in Sheppard station, Yonge and Sheppard is no doubt right in the hottest spot for Toronto condo development. Be quick to invest while prices are still competitive and people are still thinking it’s a bit too far north. It is only a 25 minute ride away from Dundas station right in downtown Toronto.
Leslieville East is not the same as Leslieville and is actually right between Leslieville and The Beaches. It is 20 minutes away by streetcar ride to downtown Toronto and prices are incredibly low, especially by Toronto standards.
Danforth Village is near to both downtown and midtown Toronto and is where Greek Town is. Commuting is made accessible by streetcars and a lot of renovated homes are for sale at great prices.
Not yet at its peak which explains the amazing condo prices, Downsview has a lot of shops and restaurants that are bound to keep growing as more and more are discovering the neighbourhood. Access to the rest of Toronto is made easy by the Downsview station.
Though considered as a low-income neighbourhood, Regent Park real estate has been steadily rising up in prices as community services have improved in recent years. The neighbourhood in Regent Park is also being revitalized with a mix of rental apartments, condominiums, and public housing.
Birch Cliff is right along Lake Ontario. It is on top of the western side of the Scarborough Bluffs, making it an even more beautiful neighbourhood. Though homes here are usually big and quite expensive, the condos are a lot more wallet-friendly. You’ll also love the sprinkling of restaurants and coffee shops.
Gerrard East is east of Riverdale. A lot of real estate are still awaiting owners with very attractive prices. With how fast the neighbourhood is growing, this won’t be for long.
Rockcliffe-Smythe was named as one of the top 3 neighbourhoods in Toronto for those who are looking for their first home. There are lots of green spaces and schools plus a newly opened mall and a community centre in early 2017.
The West Don Lands
The neighbourhood of West Don Lands is still being constructed but most of the real estate has been turned to residential area from being an industrial zone. The area has a few high rises, a huge park, some low income housing, and student housing.
Yonge and Finch
The Yonge and Finch neighbourhood is at the last stop of the main yellow subway line and has been a Toronto condo development hotspot for years. Persian and Korean food come aplenty and rent is really cheap. Not a bad place to stay for someone who want to save on rent.